Australia blocks Chinese investment in rare earth firm

Sydney — Northern Minerals on Tuesday said Australia’s government blocked the heavy rare earths producer’s largest shareholder, China’s Yuxiao Fund, from increasing its investment on grounds of national interest.

“There is a special category of assets for any government to protect its national interest,” Curtis said. In November, Chalmers said Australia, which is the world’s top lithium supplier and a major producer of rare earths, would become more selective about who it lets invest in its critical minerals industry.

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