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Australian rare earths miner Northern Minerals courting Chinese investor

Kitco News

Aug 12 (Reuters) - Australian rare earths miner Northern Minerals Ltd on Monday said it was in negotiations with a Chinese entity for a A$20 million ($13.53 million) investment.

The company said it would make a private placement of shares to the entity at about A$0.062 per share if the transaction was approved by the board.

The miner also said it was in talks with other parties for an investment, although no substantial progress had been made in such talks.

($1 = 1.4786 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; editing by Christian Schmollinger)

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