Australia tightens curbs on two Northern Minerals shareholders ordered to divest (updated)

Northern Minerals

10/08/2026 02:21

Adds details and background, share moves in paragraph 7
Aug 10 (Reuters) - Australia has tightened restrictions on two Northern Minerals NTU.AX shareholders ordered to divest their stakes over national security concerns, the miner said, extending scrutiny of Chinese-linked investment in the rare earths developer.
Northern Minerals is developing the Browns Range heavy rare earths project in Western Australia as Western governments seek to reduce reliance on China for supplies of the minerals, which are used in semiconductors and defence equipment.
In May, Australian Treasurer Jim Chalmers ordered six offshore shareholders of Northern Minerals to divest their holdings over concerns that Chinese-linked parties were seeking control of the rare earths miner.
The company said on Monday Chalmers had amended interim directions covering Hong Kong Ying Tak, British Virgin Islands-registered Real International Resources, and Hong Kong-registered Qogir Trading & Service.
Under the amended directions, Real and Qogir cannot dispose of their shares unless the proposed sale is first notified to the Treasurer to confirm that the acquirer is not an associated party.
The six shareholders were ordered in May to divest a combined 1.68 billion Northern Minerals shares to non-associated parties by July 2.
Shares of Northern Minerals rose as much as 3.9% to A$0.027, while the broader ASX200 index .AXJO was trading 0.3% lower by 0026 GMT. 

 (Reporting by Rajasik Mukherjee, Additional reporting by Melanie Burton in Melbourne; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)
 ((Rajasik.Mukherjee@thomsonreuters.com;))