Australia Blocks Chinese Investment in Northern Minerals

Australia's Treasurer Jim Chalmers announced on Monday the mandate for six shareholders to divest from Northern Minerals, amid apprehensions about Chinese control over the rare earths company.

This move follows counsel from the Treasury and Australia's Foreign Investment Review Board to secure the country's national interests while adhering to the foreign investment framework.

Emphasizing an uncompromising and equitable approach to foreign investment, Chalmers confirmed readiness to undertake further action if needed to protect national interests in this matter.

(With inputs from agencies.)