Reported 4 months ago
Australia has ordered Chinese-linked Yuxiao Fund and its associates to sell their stakes in rare earths miner Northern Minerals Ltd., aiming to counter China's dominance in critical minerals. The decision was made to protect national interests, with Yuxiao Fund, its associates, and Chinese nationals Xi Wang and Ximei Liu ordered to divest their stock in the Sydney-listed company. The move is part of efforts by Australia, the US, and other Western nations to restrict Chinese investment in minerals crucial for the energy transition and break China's near-monopoly on rare earths production and processing.
Source: YAHOO