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Wednesday, May 15, 2024

China-linked fund seeks ouster of Australian rare earth miner’s chairman

Sacks of rare earths concentrate waiting to be shipped to Malaysia, at Lynas Corp’s Mount Weld mine, northeast of Perth, Australia. (Photo: Reuters)

MELBOURNE – A China-linked fund that is a major shareholder in Australia’s Northern Minerals has filed a motion to oust the rare earth developer’s chairman after the fund’s move for a higher stake was rejected on national interest grounds early this year.

Singapore-based Yuxiao Fund, which owns a near 10% stake in…

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