Australia heavy rare earths-focused company Northern Minerals (ASX: NTU) has provided an update on the status of the Foreign Acquisitions and Takeovers (Disposal of Interests in Northern Minerals Limited) Orders 2024, which were published on the Federal Register of Legislation on 3 June 2024.
The orders required five existing shareholders to divest a total of 613,573,632 shares in the company (approximately 10.4 per cent of Northern Minerals’ issued capital at that time).
As Northern Minerals noted in its half-yearly report and accounts lodged with the ASX on 14 March 2025, as at the date of the report 146.2 million shares remained un-divested.
Northern Minerals is now able to confirm that those un-divested shares have been divested, effective 28 March 2025, which means all of the shares subject to the orders have been divested.
Northern Minerals is progressing a feasibility study for its 100 per cent-owned Browns Range heavy rare earths project, in the East Kimberley region of Western Australia. Browns Range is a globally significant heavy rare earths project containing high grades of dysprosium and terbium, which are essential for high-performance permanent magnets used in electric vehicles, wind turbines and specialist defence applications.
