Five companies with ties to major Chinese entities are ordered by Jim Chalmers to divest their shares in this remote Australian rare earths mine 'to protect our national interest.'
five international companies linked to China to divest their shares in an Australian heavy rare earths project. Northern Minerals aims to become the first substantial producer of dysprosium in Australia.
Jim Chalmers told Yuxiao Fund — and four other international companies linked to China — to divest their shares in Northern Minerals Limited which operates the Browns Range mine in Western Australia's east Kimberley. Last year, Reuters reported Northern Minerals then-executive chairman Nick Curtis said the Singapore-registered fund was an investment vehicle for Chinese national Yuxiao Wu.
Yuxiao Fund Heavy Rare Earths Foreign Investment Jim Chalmers
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