The Federal government has rejected a Chinese state-controlled mining company’s planned takeover of Canada’s TMAC Resources, after conducting a review of the potential security risks. Toronto-based TMAC Resources Inc. says Ottawa has turned down its deal to be bought by China’s Shandong Gold Mining Co. Ltd. following a review under the Investment Canada Act. TMAC says the deal will now not go ahead and it is in talks with Shandong regarding termination of the transaction. Shares in TMAC fell Tuesday morning after the company announced Ottawa had blocked the sale, down 15 cents at $1.15 in late-morning trading after falling as low as $1.05 earlier in the day. Shandong, one of the world’s largest gold producers, announced the deal in May to buy TMAC, owner of the Hope Bay gold mining project in Nunavut, for $230 million. The deal had received Chinese regulatory approvals and TMAC shareholders voted in favour …