Overview
- Treasurer Jim Chalmers, who on Monday ordered six China‑linked investors to sell 1.679 billion shares — about 17.5% of Northern Minerals worth roughly A$40 million — gave them 14 days to exit to protect the national interest.
- The company’s Browns Range project targets dysprosium and terbium used in high‑heat magnets for electric vehicles, wind turbines and some defence gear, in a market where China dominates refining.
- Northern Minerals paused ASX trading and said it is assessing the orders before a further update.
- Targets include Hong Kong Ying Tak, Real International Resources, Qogir Trading & Service, Vastness Investment Group, and individuals Chuanyou Cong and Zhongxiong Lin, after moves such as a bid to oust chair Adam Handley.
- The action follows 2024 forced sell‑downs and a 2025 court ruling that fined Indian Ocean International Shipping and its director Jing Tian A$14 million for breaching earlier orders, signaling closer checks on opaque share transfers.