Australia orders Chinese investors to sell down stake in rare earths miner
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2024
0mins
Source: Yahoo Finance
- Australian Treasurer's Order: Australian Treasurer Jim Chalmers has ordered China-linked investors to sell shares in rare earths miner Northern Minerals for national interest reasons.
- Strategic Importance of Rare Earths: The Browns Range heavy rare earths project in Western Australia is crucial due to the strategic importance of rare earths in green energy and defense sectors.
- Iluka Resources' Eneabba Refinery: Northern Minerals' mine could supply feed for Iluka Resources' Eneabba rare earths refinery, which has significant funding from the Australian government.
- Australia's Critical Minerals Industry: Australia seeks friendly nations to develop its critical minerals industry as it moves away from reliance on China, a dominant producer.
- Foreign Shareholders Disposal Order: Other foreign shareholders like Yuxiao Fund and associates have been instructed to divest their shares in Northern Minerals within 60 days to comply with foreign investment rules.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
