Northern Minerals Limited (ASX: NTU) has announced that the Federal Treasurer has issued further interim directions, amending previous orders concerning the disposal of shares held by two of its shareholders. Northern Minerals Limited is an Australian heavy rare earths-focussed company. It owns the Browns Range Heavy Rare Earths Project in Western Australia, known for its unique deposits of dysprosium and terbium. These new “Foreign Acquisitions and Takeovers (Interests in Northern Minerals Limited No. 2) Amendment Orders 2026” specifically impact Real International Resources Limited and Qogir Trading & Service Co., Limited.
The latest amendment orders build upon earlier directives issued by the Federal Treasurer. Previously, the May 2026 Disposal Orders required six shareholders, including Real and Qogir, to divest interests in shares by 2 July 2026 to non-associates. Subsequently, the July 2026 Interim Directions prohibited Hong Kong Ying Tak Limited (HKYT), Real, and Qogir from exercising voting or other rights related to shares held in contravention of the May 2026 orders. The background to these actions stems from matters referred to the Foreign Investment Review Board (FIRB) concerning possible breaches of foreign acquisition regulations.
Under the new Amendment Orders, Real and Qogir are now also explicitly directed not to dispose of their interests in Northern Minerals shares unless the Treasurer is notified in writing and confirms that the acquirer is not an associate of the foreign person. Furthermore, Northern Minerals itself has been directed not to register any transfer of these interests if they are disposed of contrary to these new pre-disposal notification and approval requirements. The company confirmed its intention to comply, instructing its share registry to apply holding locks to the relevant holdings pending Treasurer notification. Northern Minerals’ Executive Chair, Adam Handley, welcomed the amended directions, stating they are designed to prevent circumvention of the May 2026 Disposal Orders by ensuring scrutiny over potential acquirers. FIRB’s consideration of these matters remains ongoing.
