Australia orders divestment of Northern Minerals stakes
Treasurer Jim Chalmers ordered six investors to sell their Northern Minerals stakes. The move prevents Chinese parties from controlling the rare earths miner.
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Australia Treasurer Jim Chalmers ordered six shareholders to divest their stakes in Northern Minerals on Monday. The move follows government concerns that entities linked to China attempted to seize control of the heavy rare earths producer. This intervention highlights the intensifying global race to secure critical minerals essential for defense and semiconductor manufacturing.
