Australia Uses National Interests as Excuse to Prevent China from Increasing Investment in Local Rare Earth Company

Published: Mar 7, 2023 10:14

Source: SMM

Save

Australia's Northern Minerals said last Tuesday that the Australian government has blocked Yuxiao Fund, its largest shareholder, from increasing the investment on the grounds of national interest.

SHANGHAI, Mar 7 (SMM) - Australia's Northern Minerals said last Tuesday that the Australian government has blocked Yuxiao Fund, its largest shareholder, from increasing the investment on the grounds of national interest. Dysprosium is a key component of electric vehicle magnets. China holds 94% of the global supply of dysprosium and Northern Mining has a strong interest in becoming the first significant global dysprosium producer outside of China.

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

China's Supreme People's Procuratorate: Strengthening Guidance and Supervision of Major Sensitive Cases

The head of the Economic Crime Prosecution Department and a member of the procuratorial committee of the Supreme People's Procuratorate stated that procuratorial organs have always performed their duties in accordance with the law, severely punished smuggling crimes, fully safeguarded border security, and actively served the overall situation of higher-level opening up. Currently, smuggling crimes have exhibited new characteristics such as large-scale and organized operations, causing significant losses to national tax revenue.

3 hours ago

Pr-Nd Prices Remain High, Downstream Procurement Activities Decrease [SMM Rare Earth Weekly Review]

[SMM Rare Earth Weekly Review: Pr-Nd Prices Remain High, Downstream Procurement Activities Decrease] This week, the market quotation for Pr-Nd oxide remained high. Suppliers held optimistic expectations for the future market and were unwilling to sell at low prices. However, downstream buyers gradually began holidays and halted procurement, leading to a noticeable decline in the actual trading activity of Pr-Nd oxide. As of today, the price of Pr-Nd oxide fluctuated and rose to 747,000-753,000 yuan/mt.

3 hours ago

Jintian Co., Ltd.: Copper Semis Sales in Chip and Semiconductor Sector Exceed 40,000 mt by Year-End 2025, Net Profit Forecast to Increase in 2025

3 hours ago