Northern Minerals seeks AGM deferral amid foreign ownership inquiry

Northern Minerals Limited announced it is commencing proceedings in the Supreme Court of New South Wales to defer its 2025 Annual General Meeting (AGM), originally scheduled for Thursday, 27 November 2025. This decision follows the company's referral of potential beneficial ownership issues to the Foreign Investment Division of the Department of Treasury (FIRB). A review of its share register indicated possible breaches of foreign acquisition rules.

A Disposal Order, issued on 2 June 2024, required five shareholders, including Yuxiao Fund Pte Ltd and Indian Ocean International Shipping and Service Company Ltd, to divest 613,573,632 ordinary shares. Additionally, a Prohibition Order from 15 February 2023 prevented Yuxiao from acquiring an additional 9.92% interest, capping its stake at 9.98%. The company noted that FIRB's consideration may not be completed by the statutory deadline for the AGM.

Executive chair Adam Handley stated the deferral aligns with the company’s commitment to transparency and compliance with all regulations. This step is deemed important for the appropriate consideration of these matters, especially in light of the company's potential project finance opportunity announced on 21 October 2025.