this post was submitted on 17 Jul 2026
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Australia blocks voting rights of some China-linked investors in Northern Minerals (www.miningdiscovery.com)
submitted 5 days ago by Sepia@mander.xyz to c/australia@aussie.zone
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Australia's Foreign Investment Review Board (FIRB) said Hong Kong Ying Tak, British Virgin Islands-registered Real International Resources, and Hong Kong-registered Qogir Trading & Service failed to comply with earlier government orders to reduce their stakes in Northern Minerals [a mineral exploration and development company with headquarters in Perth, Western Australia].

In May, Treasurer Chalmers ordered six offshore shareholders to divest their holdings by July 2 over concerns that Chinese-linked parties were seeking control of the rare earths miner.

...

"Northern Minerals welcomes the Federal Treasurer's interim directions regarding compliance with his May Disposal Orders," Northern Minerals chairperson Adam Handley said on Tuesday.

Handley said a review of Northern Minerals' share register on July 10 found that most of the shares covered by the May divestment orders were still held by the investors targeted by those orders.

...

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[–] MisterFrog@aussie.zone 1 points 4 days ago* (last edited 4 days ago)

I think it's weird how we say it's totally chill that foreign investors are fine as long as they're from the US...

(I'm not pro-china, just think this is a weird double standard)