Australia sues China-linked rare earths investors

Australia is suing a Chinese-linked company and a former associate over a breach of foreign investment laws linked with rare earths miner Northern Minerals, the national treasurer said on Thursday, adding it was the first case of its kind. Indian Ocean International Shipping and Service Company was one of five foreign investors with ties to China subject to an order by Treasurer Jim Chalmers to divest shares on national interest grounds in June last year. Chalmers said in a statement he had lodged a legal action in the Federal Court and was seeking penalties, declarations and costs.