Australia Orders China-Linked Investors to Exit Rare-Earth Miner
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A Northern Minerals rare earth exploration site. Photo: Northern Minerals
Australia has ordered six foreign investors linked to China to divest their 17.58% stake in the country's largest heavy rare earths developer, Northern Minerals, citing national interest concerns.
The May 18 directive issued by Treasurer Jim Chalmers gives the group 14 days to sell nearly 1.68 billion shares. The targeted shareholders include corporate entities registered in the Chinese mainland, Hong Kong, and the British Virgin Islands, alongside two Chinese individuals.
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- Australia ordered six China-linked investors to divest 17.58% stake in Northern Minerals within 14 days, citing national security.
- This is the second intervention; the Browns Range project aims to challenge China’s ~80% global heavy rare earths dominance.
- Northern Minerals shares fell 13.8%; China criticized the move as disrupting normal investment.
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Who’s Who
- Northern Minerals
- Australia ordered six China-linked investors to divest their 17.58% stake in Northern Minerals, the country's largest heavy rare earths developer, citing national interest. This follows a 2024 order targeting other investors. Northern Minerals owns the Browns Range project, backed by the US and Australia, aiming to challenge China's rare earths dominance.
- Real International Resources Limited
- Real International Resources Limited, registered in the British Virgin Islands, holds the largest stake (6.48%) among six investors ordered by Australia to divest their 17.58% share in Northern Minerals due to national interest concerns. It is linked to China.
- Iluka
- Iluka is an Australian rare earths refiner operating a domestic refinery supported by A$1.6 billion ($1.1 billion) in government funding. The facility is slated to process heavy rare earths from Northern Minerals' Browns Range project.
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What Happened When
- June 2024：
- The Australian government issued a mandate forcing five Chinese investors to sell a 10.4% stake in Northern Minerals.
- October 2025：
- A bilateral critical minerals agreement was signed by U.S. President Donald Trump and Australian Prime Minister Anthony Albanese.
- May 18, 2026：
- Australia's Treasurer Jim Chalmers issued a directive ordering six foreign investors linked to China to divest their 17.58% stake in Northern Minerals, giving them 14 days to sell nearly 1.68 billion shares.
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