Rare earths boss targeted by Chinese-linked shareholder

News Snapshot:

Yuxiao Fund is controlled by Chinese businessman Wu Tao, whose company, Africa Great Wall, is a big player in mineral sands mining in Mozambique and a supplier of ilmenite into China. Iluka’s core business is minerals sands and Africa Great Wall is a rival in ilmenite supply. Yuxaio Fund recently nominated Mr Wu for a seat on the Northern Minerals board with the nomination seconded by Sun Bo, who owns less than 1 per cent of the stock. Probing share-buying activity The request for a board seat and concerns about the share trading prompted Northern Minerals to delay its scheduled...