Australia orders Chinese investors to sell down stake in rare earths miner
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2024
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Should l Buy ?
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.
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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.
