NOURF - Australia Orders China-Linked Investors To Divest From Rare Earths Miner Northern Minerals | Benzinga
Australian Treasurer Jim Chalmers ordered several China-linked investors to divest from rare earths miner Northern Minerals Ltd (OTCPK: NOURF). As green technologies gain importance, countries are becoming increasingly inclined to safeguard production.
“The decision, based on advice from the Foreign Investment Review Board, is designed to protect our national interest and ensure compliance with our foreign investment framework,” a spokesperson for Chalmers announced on Monday, per Australian Financial Review's report.
Northern Minerals is currently developing the Browns Range project. Located in the far northeast of Western Australia, it is one of the world’s most significant sources of dysprosium and terbium. These minerals are essential for manufacturing high-performance magnets and batteries, playing a critical role in the global transition to renewable ...