SYDNEY - Australia said all decisions on foreign investment are made in its national interest and it expects trade talks with China to continue, after reports Beijing had protested against Canberra’s decision to block a Chinese investment in a rare earths mining company.
Foreign Minister Penny Wong and her Chinese counterpart Qin Gang discussed bilateral trade impediments on Thursday on the sidelines of the G-20 meeting in New Delhi, the statement said.Ms Wong told reporters after the meeting “both parties can grow our bilateral relationship while safeguarding our national interests, if we both navigate our differences wisely”.
Australia has previously said it would become more selective about who it lets invest in its critical minerals industry, amid concern about monopolies. Northern Minerals plans to become the first significant world producer of dysprosium, a key component for magnets for electric vehicles, outside China which controls 94 per cent of supply. REUTERS
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