Bartolucci guides feds.

• Author: Louiseize, Kelly
• Position: Rick Bartolucci

Mining companies are seeking to secure long-term sustainability at a time when commodity prices are being fueled by the biggest boom in 20 years.

Ontario possesses a strong investment climate and flourishing mineral sector. As a result it is the focal point for a number of significant proposed deals. There has been some debate and speculation as to how these deals should unfold.

For northern Ontarians there is a lot more at stake than just market share, says Rick Bartolucci, Minister of Northern Development and Mines. The region's jobs, opportunities and hopes for lasting economic prosperity are top of mind.

The process is complex and involves many players, but before any takeover transactions are completed, the offers still need to be approved by shareholders, and authorities in Canada, the United States and the European Union he says.

In Canada, the lead for reviewing large acquisitions of a Canadian business and a non-Canadian business is Industry Canada. Its job is to ensure the acquisition is a net benefit to the country.

The Investment Canada Act sets out considerations to be addressed in evaluating net benefit transactions. This includes confidentiality provisions to protect commercially sensitive information but also not to influence shareholders within the competitive process.

"Ultimately the bid review process is the responsibility of the federal government and I must respect their jurisdiction," Bartolucci states.

However, it is important to ensure the federal government is aware of Ontario's mineral sector interests and concerns, to help guide them through the decision-making process.

"The...