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

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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.

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