The strained diplomatic relations between China and Australia have largely improved, but the situation is different at the corporate level where Chinese mining companies face regulatory hurdles from the Australian government.
Chinese Interest in Critical Minerals
The issue that sparked a negative reaction from the Australian government agency responsible for foreign investment is the Chinese interest in critical minerals such as lithium and rare earths, which have multiple industrial and military uses.
Recent Disputes with Regulators
The recent dispute with regulators involves the rare earth project developer, Northern Minerals, which plans to extract the largest known deposit of heavy rare earths dysprosium and terbium in the Browns Range area of northern Australia.
Australian Government Intervention
The battle over Bald Hill has prompted an Australian government response and resistance from Chinese interests, as an attempt was made to oust Curtis from the Northern Minerals board.
Chinese Control over the Rare Earth Industry
The complex corporate maneuvers surrounding Northern Minerals have attracted international attention due to Chinese control over the rare earth industry and its apparent attempt to take over a potential rival mine in Australia.
Source: https://www.forbes.com/sites/timtreadgold/2023/11/21/chinese-mining-companies-blunder-in-australia/
Leave a Reply