Qatar is making a strong push into Canada’s resource and technology sectors, signaling a growing interest in the country’s strategic industries. On September 17, Ivanhoe Mines announced a $500 million investment from the Qatar Investment Authority (QIA), giving Qatar’s sovereign wealth fund about a 4% stake in the Vancouver-based mining company. According to QIA CEO Mohammed Said Al-Sowaidi, the “strategic investment” aims to help Ivanhoe Mines find, develop, and sustainably supply the critical minerals vital to the global energy transition and advanced technology manufacturing.
This latest move follows other Qatari forays into Canada’s mining scene. Earlier in March, Qatari royal Sheikha Sara Nasser Al-Thani reached an agreement with Doubleview Gold Corp, another Vancouver-based mining company, to explore collaboration opportunities involving the QIA. Doubleview said it had received a statement of interest from the Sheikha regarding a critical metals deposit in northwest British Columbia.
Qatar’s investments in Canada extend well beyond mining. The Gulf nation has been expanding its presence across the country, mirroring a broader pattern of Qatari influence throughout Western economies. The royal family already holds significant real estate assets in London — reportedly surpassing the holdings of King Charles himself — and Canada may be the next Commonwealth nation to experience a similar influx of Qatari capital.
In the energy sector, Qatar’s involvement dates back over a decade. In 2013, Qatar Petroleum International (QPI) — now known as QatarEnergy — partnered with British energy company Centrica to acquire oil and gas assets in western Canada for $1 billion. A year later, QPI bought a 40% stake in Centrica’s Canadian natural gas business for an additional $200 million. According to QatarEnergy’s 2023 annual review, the company currently owns 40% of the licenses for two potential offshore drilling zones near Newfoundland and Labrador and 30% of another nearby exploration area.
Qatar’s ambitions also reach into Canada’s financial, technological, and academic institutions. In June, the QIA partnered with Montreal-based Fiera Capital to launch a $200 million fund aimed at boosting investment in Qatar’s stock market. The following month, it joined a $250 million financing round for Vancouver-based medical technology firm Kardium to help roll out an innovative treatment for atrial fibrillation.
The country’s links with Canadian academia date back more than a decade. In 2012, Qatar’s ambassador to Canada announced a $1.25 million donation to McGill University’s Islamic Studies Institute to fund conferences and a fellowship named after Qatar’s former prime minister. McGill’s Institute of Air and Space Law has also collaborated with Qatar Airways on various academic initiatives, including moot court competitions and conferences.
Despite Qatar’s growing footprint, analysts warn that Canadian companies and institutions should exercise caution when engaging with Qatari entities. While Qatar maintains diplomatic and trade relations with Ottawa, its activities often align with Islamist and anti-Western interests, raising concerns about influence and transparency.
To address these risks, Canada should strengthen its transparency laws regarding foreign investment and funding. Although Parliament passed the Foreign Influence Transparency and Accountability Act (FITAA) last year — establishing a framework for a Foreign Influence Transparency Commissioner and a public registry — implementation has stalled. The government has yet to appoint a commissioner or activate the registry.
Moreover, Canadian universities are not currently required to disclose foreign funding, leaving the extent of Qatar’s academic influence largely unknown. If Qatar’s donations to Canadian institutions mirror its substantial contributions to American universities, the total investment could easily reach hundreds of millions of dollars. Ottawa could look to Section 117 of the U.S. Higher Education Act, which mandates disclosure of foreign gifts and contracts, as a legislative model to ensure transparency and protect national interests.
