Post by : Shakul

Australia has ordered several China-linked investors to sell their shares in rare earth company Northern Minerals, citing concerns over foreign influence in a strategically important sector.

The decision was announced on Monday as Australia continues efforts to protect critical mineral industries linked to national security and advanced technology supply chains.

Northern Minerals is one of Australia’s leading rare earth companies and is attempting to reduce China’s dominance in the production of dysprosium, a key mineral used in high-performance magnets for electric vehicles and advanced electronics.

Government officials said the move was necessary to ensure that Australia maintains greater control over industries connected to critical resources and future energy technologies.

Rare earth minerals have become increasingly important worldwide because they are used in electric vehicles, defense systems, renewable energy equipment, and electronic devices. China currently dominates much of the global rare earth supply chain.

The decision may increase tensions between Australia and China, especially as both countries continue to compete over trade, investment, and access to strategic resources.

Industry experts believe Australia is trying to strengthen its domestic rare earth production capabilities and reduce dependence on foreign-controlled supply networks.

Northern Minerals has attracted international attention in recent years because of its efforts to become a major supplier of dysprosium outside China.

#world news #Economy #Business