Australia ups scrutiny of China-linked rare earth investors
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Sydney: Australia has escalated regulatory pressure on China-linked investors in rare earths developer Northern Minerals after key shareholders defied government orders to sell their stakes.
Under strict new restrictions, the Australian government will directly vet all prospective share sales involving Hong Kong-registered Qogir and Virgin Isles-registered Real International Resources to ensure equity is not secretly transferred to foreign associates.
Resolving this ongoing ownership deadlock is critical for Northern Minerals to secure prospective U.S. government and Pentagon defense funding. Its flagship Browns Range project aims to serve as a vital non-Chinese rare earth supplier.
The intervention follows a May directive ordering six China-linked investors controlling 17.5 percent of the firm to divest. Defiant shareholders were subsequently stripped of voting rights after missing compliance deadlines.
Western allies are accelerating efforts to secure critical minerals following Chinese export limits, making board transparency a paramount national security requirement.
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