Australia cracks down on foreign investment in critical minerals

Australia will tighten scrutiny of foreign investment into mining and refining of critical minerals as part of an overhaul of its national regime, while speeding up approvals in low-risk areas to boost economic growth. Treasurer Jim Chalmers announced the changes in a speech to the Lowy Institute think tank in Sydney on Wednesday, saying Australia welcomes international investment “but only if it’s in our national interest.”