Chinese Interference Sparks Forced Sale of Australian Rare Earths Miner

Five companies, based in China or Hong Kong, have been compelled to divest their stakes in Australian rare earths miner, Northern Minerals. Treasurer Jim Chalmers mandated the overseas-owned entities to sell their shares within 14 days. Northern Minerals, operating in Western Australia’s East Kimberley region, aims to extract dysprosium and terbium, crucial for manufacturing specialized magnets used in electric vehicles and industrial applications. The Australian government perceives the miner as vital in countering China’s dominance over global critical minerals supply chain. The forced sell-off, impacting 17.5% of the company’s shares valued at approximately $40 million, involves companies like Hong Kong…