Chalmers issues new orders for Northern Minerals shareholders

• Treasurer Jim Chalmers issued new amendment orders requiring specific foreign investors to seek written approval before disposing of shareholdings.
• The regulatory updates followed earlier non-compliance with May divestment directives regarding 1.67 billion shares.
• The company stated it intends to comply with the directives while the Foreign Investment Review Board continues its review.

Federal Treasurer Jim Chalmers issued new amendment orders requiring Real International Resources and Qogir Trading and Service to notify him before disposing of any shareholdings in Northern Minerals (ASX:NTU).

The fresh directives build upon interim directions issued on July 14 that stripped several shareholders of voting powers for violating earlier May orders to sell out.

"Northern Minerals welcomes the Federal Treasurer’s amended July interim directions regarding compliance with his May disposal orders," said Northern Minerals executive chair Adam Handley.

Under the latest rules, the rare earths miner has been officially directed not to register any shareholder register changes without appropriate government approval.

The Foreign Investment Review Board continues to review matters affecting the company as broader compliance monitoring proceeds.

Following the announcement, the Northern Minerals share price was unchanged at $0.027.

The federal government has repeatedly utilised foreign investment review powers over the past three years to restrict overseas influence on domestic critical mineral assets.

Such regulatory interventions target key mining projects holding deposits of critical rare earth elements like dysprosium and terbium.