The Australian government has ordered six Chinese-linked investors to sell their stakes in rare earths miner Northern Minerals, citing national security concerns over foreign influence in the country’s critical minerals sector.
Australian Treasurer Jim Chalmers said the decision was taken to protect Australia’s national interest and ensure compliance with foreign investment laws. The affected investors collectively hold around 17% of Northern Minerals and have reportedly been given two weeks to divest their shares.
Northern Minerals is developing the Browns Range project in Western Australia, considered one of the country’s most strategically important heavy rare earth deposits. The project is expected to supply minerals such as dysprosium and terbium, which are critical for semiconductors, electric vehicles, renewable energy systems, and military technologies.
The move comes amid increasing efforts by Western nations to reduce dependence on China for critical mineral supply chains. Australia has tightened scrutiny of foreign ownership in strategic mining projects over the past few years, especially in sectors linked to defence and advanced technology manufacturing.
Northern Minerals confirmed it is reviewing the government order and considering its next steps. Shares in the company reportedly fell sharply following the announcement.
News as Reported.
