Australia Orders 6 Chinese Firms to Sell Off Interest in Rare Earth Miner Australian Treasurer Jim Chalmers has mandated six shareholders, primarily based in Hong Kong and China, to divest approximately 17.5 percent of their holdings in Northern Minerals Limited. This action stems from concerns that a group of Chinese investors, previously ordered to sell their shares, instead transferred them to a Hong Kong-based company. Northern Minerals, a miner focused on extracting dysprosium and terbium in Western Australia, has consistently attracted Chinese investment interest.

• Treasurer Jim Chalmers has ordered six shareholders to sell their stake in Northern Minerals Limited.
• The shareholders represent about 17.5 percent of the company and are primarily based in Hong Kong or China.
• The order is reportedly linked to Chinese investors who allegedly bypassed a previous sell-off requirement by transferring shares to a Hong Kong company.
• Northern Minerals aims to extract dysprosium and terbium in Western Australia’s East Kimberley region.
• The company has been a frequent target for Chinese investment.