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7 stories mentioning ASX:NTUUpdated 16d ago

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Asia

Northern Minerals Says Treasurer Blocks Voting Rights for Three China-Linked Shareholders; Shares Gain 4%

Northern Minerals (ASX:NTU) said Australia's Federal Treasurer ordered three stockholders not to exercise their voting power on any matters put forward at shareholder meetings, according to a Tuesday filing with the Australian bourse.The Treasurer's interim directions come after China-linked shareholders Hong Kong Ying Tak, Real International Resources, and Qogir Trading & Service failed to comply with an order to dispose of their stakes in Northern Minerals by a July 2 deadline, per the filing.Meanwhile, Northern Minerals has been directed not to recognize the exercise of any votes by the three shareholders.The company "welcomes the Federal Treasurer's interim directions regarding compliance with his May disposal orders," Northern Minerals Executive Chair Adam Handley said.The company's shares gained 4% in recent Tuesday trade.

ASX:NTU
Asia

Northern Minerals to Provide Share Registry Information to Government's Foreign Investment Division to Determine Compliance With Disposal Orders

Northern Minerals (ASX:NTU) will provide relevant share registry information to the Foreign Investment Division of the Australian Department of Treasury to assist in determining compliance with the new disposal orders made by the Treasurer in May, according to a Monday filing with the Australian bourse.The disposal orders relate to roughly 1.68 billion shares, representing about 17.58% of the total number of company shares on issue as of May 19, held by six foreign shareholders, the filing said.The Treasurer had ordered the six foreign shareholders to divest part or all their respective shareholdings in the company by July 2, per the filing.

ASX:NTU
Asia

Northern Minerals Secures Deadline Extension for Annual General Meeting

Northern Minerals (ASX:NTU) said the Australian Securities and Investments Commission granted the company an extension to the June 30 deadline to hold its 2025 annual general meeting, according to a Wednesday filing with the Australian bourse.The company must now hold the meeting either by Sept. 30 or within 42 business days following compliance with certain disposal orders, whichever is earlier.Australia's Treasurer in May issued disposal orders against six foreign investors in Northern Minerals, representing about 17.6% of the company's total issued shares. The orders require the investors to dispose of their shares by July 2.Northern Minerals said the extension will give it time to ensure that the orders are completed ahead of the annual general meeting. The company plans to set a new meeting date in due course.

ASX:NTU
Asia

Australian Shares Climb; Mineral Resources Plans Restart for Western Australia Lithium Mine

Australian shares climbed on Tuesday as US President Donald Trump claimed there was a good chance of a nuclear deal with Iran.The S&P/ASX 200 Index rose 1.17%, or 99.40 points, to close at 8,604.70.Iran sent a new peace proposal to the US, and President Trump said he had halted a planned attack to allow the negotiations to take place. Brent crude oil futures fell almost 2% to trade around $109 per barrel.On the domestic front, Australia's near-term underlying inflation has been revised higher due to the oil price shock, adding roughly 0.4 percentage points to underlying inflation by the March quarter 2027, Sarah Hunter, assistant governor at the Reserve Bank of Australia, said during a speech.The ANZ-Roy Morgan Australian consumer confidence rose 2.3 points to 66.4 in the week of May 11 to May 17. The four-week moving average inched up 0.5 points to 66.4 points.Australia's consumer confidence edged higher in May, but sentiment remained deeply pessimistic as interest rate hikes and cost-of-living pressures continued to outweigh modest budget-driven improvements, according to a survey by Westpac and the Melbourne Institute. The Westpac-Melbourne Institute Consumer Sentiment Index rose 3.5% to 83 in May from 80.1 in April.In company news, Mineral Resources (ASX: MIN) said that it would restart operations at its Bald Hill lithium mine in Western Australia, citing a sustained recovery in lithium prices and improved market conditions. The mine, which was previously placed on care and maintenance in November 2024. Its shares were up over 2% on market close.Technology One (ASX:TNE) reported fiscal first-half earnings of AU$0.2028 per share, up from AU$0.1908 a year earlier. Revenue for the six months ended March 31 was AU$322.7 million, compared with AU$291.3 million a year earlier. Its shares fell 2% on market close.Lastly, Northern Minerals (ASX:NTU) said it welcomes the Australian Treasurer's disposal orders related to around 1.68 billion shares held by six foreign shareholders. The Treasurer ordered the foreign shareholders, which include Hong Kong Ying Tak, Real International Resources, Qogir Trading & Service, Chanoyu Cong, Vastness Investment Group, and Zhongxiong Lin, to divest part or all of their holdings in Northern Minerals by July 2. Its shares jumped 26% on market close.

ASX 200ASX:MINASX:NTUASX:TNE
Asia

Northern Minerals Welcomes Australian Treasurer's Share Disposal Orders; Shares Jump 22%

Northern Minerals (ASX:NTU) said it welcomes the Australian Treasurer's disposal orders related to around 1.68 billion shares held by six foreign shareholders, according to a Tuesday filing with the Australian bourse.The Treasurer has ordered the foreign shareholders, which include Hong Kong Ying Tak, Real International Resources, Qogir Trading & Service, Chanoyu Cong, Vastness Investment Group, and Zhongxiong Lin, to divest part or all of their holdings in Northern Minerals by July 2."Maintaining a transparent share register aligned with Australia's national security interests is critical to Northern Minerals' ability to secure funding and advance [the] Browns Range [heavy rare earths project]," said Executive Chair Adam Handley.The company is evaluating the impact of the disposal orders on the proposed timing of its next annual general meeting.Shares of Northern Minerals jumped 22% in recent Tuesday trade.

ASX:NTU
Asia

Australian Treasurer Orders Six China-Linked Entities to Sell 1.68 Billion Northern Minerals Shares, Shares Fall 8%

Northern Minerals (ASX:NTU) said the Australian Treasurer has exercised his power to make further disposal orders against various entities holding interests in Northern Minerals shares, according to a Monday Australian bourse filing.The orders relate to 1.68 billion Northern Minerals shares, the filing added.The Treasurer's attached order with the filing showed that a total of six China-linked entities have been ordered to sell their interest in the company."We operate ​a robust and non-discriminatory foreign investment framework, and will take further action if required to protect our national interest in relation to this matter," Treasurer Jim Chalmers said, as quoted by Reuters.The company's shares fell 8% in recent Monday trade.

ASX:NTU
Asia

Export Finance Australia, US Export-Import Bank Issue Letters of Up to $500 Million Each for Ardea's Western Australia Nickel Project

Export Finance Australia (EFA) and the US Export-Import Bank (EXIM) issued letters of support/interest of up to $500 million each for Ardea Resources' (ASX:ARL) Kalgoorlie nickel project in Western Australia after Australia's Minister for Resources and Northern Australia Madeleine King and the US Secretary of the Interior Doug Burgum agreed on priority critical minerals and rare earths projects under the two countries' bilateral Critical Minerals Framework, according to a Monday statement.The critical minerals include nickel, cobalt, gallium, magnesium, vanadium, and graphite.Other projects supported under the framework include Alcoa (ASX:AAI) Gallium recovery project in Western Australia, Arafura Rare Earths's (ASX:ARU) Nolans rare earths project in the Northern Territory, Astron's (ASX:ATR) Donald rare earths project in Victoria, Northern Minerals' (ASX:NTU) heavy rare earths project in Western Australia, VHM's (ASX:VHM) Goshen rare earths project in Victoria, and EQ Resources' (ASX:EQR) Mt Carbine tungsten project in Queensland.Ardea's shares were up over 2% in recent trading on Monday, while those of Astron rose nearly 1%. Shares of Alcoa fell 1%, Arafura fell 1%, VHM declined 5%, and those of EQ Resources decreased 9%.

ASX:AAIASX:ARLASX:ARUASX:ATRASX:EQRASX:NTUASX:VHM

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