Nick Curtis involved again - but not in Lynas, page-3

Yes, extracts AUST today:
CHINESE INVESTORS FORCED TO SELL DOWN MINER SHARES
Matt Bell
Jim Chalmers has ordered a Chinese-linked investment funds to significantly reduce their holdings in ASX-listed rare earths explorer Northern Minerals after the government decided the company’s holding was in Australia’s “national interest”. Northern Minerals has significant deposits of heavy rare earths in Western Australia, particularly the high-value element dysprosium – a rare element used in wind turbines, electric vehicles and control rods for nuclear reactors due to its ability to resist demagnetisation at high temperatures.
The Treasurer on Monday issued orders that Yuxiao Fund and four associates – Black Stone Resources, Indian Ocean International Shipping and Service Company, Ximei Liu and Xi Wang – dispose of about 530 million shares in the rare earths-focused explorer.
The Singapore-registered Yuxiao Fund, controlled by Chinese businessman Wu Tao, and the four other entities must sell holdings worth a combined 10.37 per cent of Northern Minerals’ register within 60 days. The decision comes ahead of a visit to Australia in the next fortnight from China’s Premier, Li Qiang, who is expected to raise foreign investment issues with Anthony Albanese.
The production of rare earth and critical minerals has become a major concern for Australia and its allies amid increasing competition and assertiveness from China, which is estimated to control about 70 per cent of the supply chain. The chairman of the Business Council of Australia’s global engagement committee, Warwick Smith, said issues around the production and holding of critical minerals had risen in importance for the government.
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In February last year, Dr Chalmers prohibited the acquisition by Yuxiao Fund of an additional 9.92 per cent stake in Northern Minerals, which would have increased its interest in the company to 19.9 per cent. Northern Minerals, which is focused on the Browns Range heavy rare earths project in WA, has come under scrutiny over Mr Wu’s bid to boost his stake in the business via his Singapore-based fund. The fund had also pushing to get rid of Northern Minerals chairman Nick Curtis at an extraordinary general meeting scheduled for June 6. The meeting was cancelled after a board restructure was announced on May 27 that resulted in Mr Curtis announcing his resignation.
Mr Curtis is now a strategic adviser and Adam Handley, who has been a director since late 2021, has been appointed executive chairman. Former finance director Shane Hartwig is the new managing director and chief executive. ……