Australia Orders 6 Chinese Firms to Sell Off Interest in Rare Earth Miner

Northern Minerals, which hopes to extract dysprosium and terbium in WA’s East Kimberley region, has long been a target of Chinese interest.

Jars containing rare earth minerals produced by Australia's Lynas Corp from its Mount Weld operations northeast of Perth, Australia, Aug. 23, 2019. Melanie Burton/Reuters/File

Treasurer Jim Chalmers has given six shareholders 14 days to sell their interests—about 17.5 percent—in Australian rare earths miner Northern Minerals Limited.

The six shareholders include four companies and two individuals—all but one are based in Hong Kong or China.