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The Minister of Industry is giving the go ahead to one of China's biggest forays into Canada's natural resource sector, PetroChina International Investment Company Ltd.'s $1.9-billion investment in properties owned by Athabasca Oil Sands Corp.
In a statement late Tuesday, Tony Clement said he approved the deal to purchase a majority stake in the MacKay and Dover Oil Sands projects "because I am satisfied that the investment is likely to be of net benefit to Canada."