Treasurer Jim Chalmers orders Chinese-linked Yuxiao Fund to sell stakes in Australian rare earths miner Northern Minerals.
Treasurer Jim Chalmers has ordered Chinese-linked Yuxiao Fund and associates to sell their stakes in Australian rare earths miner Northern Minerals, as part of efforts by the US and its allies to counter China's dominance of critical minerals. The move also aims to limit investment in metals crucial for energy transition by China, which has a near-monopoly on rare earths production and processing.
June 03, 2024
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