Original article by Stephen Dziedzic, Daniel Mercer
abc.net.au – Page: Online : 1-Mar-23

Treasurer Jim Chalmers has blocked an application from the Singapore-registered Yuxiao Fund to increase its stake in rare earths producer Northern Minerals from nearly 10 per cent to 19.9 per cent. Chalmers is said to have signed an order to block the transaction on 15 February, following a recommendation from the Foreign Investment Review Board. Northern Minerals’ executive chairman Nick Curtis says the fund is an investment vehicle for Chinese national Yuxiao Wu. Northern Minerals operates the Browns Range mine in Western Australia’s east Kimberley region, and it aims to become the first substantial producer of dysprosium outside of China.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD