US to force Chinese company to give up land

The US wants a company linked to China to sell its country. The country is close to a military base.

MineOne Partners Limited has purchased property near the US Air Force Base in Wyoming. It is owned by Chinese nationals.

The company purchased the property in June 2022.

The White House said the company’s proximity to a strategic missile base was concerning. It said it was “capable of facilitating surveillance and espionage activities.”

“It poses a national security risk to the United States.”

The property is one mile from the Wyoming-based Francis E. Warren Air Force Base.

The US action comes after other reported cases of Chinese companies found to be committing espionage.

The US and China had a falling out in 2022 over Chinese telecom equipment manufacturer Huawei. Washington had accused Huawei of espionage.

The Biden administration had put 23 Chinese entities on a trade restricted list in 2023.

MineOne Partners has not commented yet.

The MineOne Partners deal was reviewed by CFIUS. This is a panel led by the Ministry of Finance. It scrutinizes foreign investments in the US for national security risks.

A 2018 law expanded CFIUS’ authority to review foreign acquisitions.

U.S. Treasury Secretary Janet Yellen said in a statement Monday that the move highlighted “CFIUS’s critical gatekeeping role.”

(REUTERS)