Ann: Revised Notice of Annual General Meeting and Proxy Form, page-5

I very much doubt Chris Ellison Minres (Gl1 10%) and Gina Rinehart ( GL1 under 5%) would be happy to see GL1 controlled by Chinese interests-
I hope the Takeovers Panel can see what Chen and Sincerity are trying to do and rule against them.
I’ve voted with Ron!

https://www.copyright link/companie...-over-foreign-influence-fears-20250113-p5l3qf


Global Lithium chair rejects board revamp over foreign influence fears

Mark WembridgeResources reporter
Jan 13, 2025 – 6.08p

Two board members will oppose an attempt by a rival director to seize control of Global Lithium Resources, pledging to vote against a proposal to reshape the West Australian critical minerals explorer.

Global Lithium chairman Ron Mitchell and non-executive director Matt Allen on Monday said they would defy a push by Dianmin Chen – and the 30-40 per cent bloc of shares they say are controlled by Dr Chen and his associates – to wrest control of the board.

The stand-off comes after Global Lithium sought orders from the Takeovers Panel to dissolve the stake and ratify board independence due to concerns about covert Chinese influence.


Global Lithium Resources has two WA operations, including its Manna project near Kalgoorlie.

The miner has been embroiled in a governance dispute since mid-2024 when minority shareholder Sincerity Development, controlled by Chinese-born businessman Liaoliang “Leon” Zhu, first attempted to change its direction.

The ASX-listed company has two lithium projects in Western Australia, which the miner says are vital to Australia’s policy of controlling critical mineral projects.

Global Lithium’s Manna project east of Kalgoorlie sits in the same region as the Mount Marion lithium mine, owned by Mineral Resources and China’s Ganfeng Lithium, and the Bald Hill mine owned by MinRes.

The small cap miner is backed by Chris Ellison’s MinRes with a 10 per cent stake, and Australia’s richest person Gina Rinehart, who owns just under 5 per cent. Other shareholders include China’s Canmax Technologies, Sincerity Development and Chinese mining services magnate Yongfang Guo.

“If there is a change in the directors of Global Lithium at the AGM, there is a risk that the shareholders ... will control the board ... and change the direction of Global Lithium and make decisions that may prove difficult to unwind,” the miner said.

On Friday, the Takeovers Panel confirmed it had received a submission from Global Lithium alleging that a shareholder controlling as much as 40 per cent of its shares had attempted to seize power, contravening foreign ownership guidelines.

Global Lithium claims Dr Chen and his associates want control of the board and have forced “previous independent directors to resign or be removed”.

In November, the WA Supreme Court delayed Global Lithium’s annual shareholder meeting to give the Foreign Investment Review Board more time to investigate claims of Chinese influence.


The meeting will be held on February 13, where Mr Mitchell and Mr Allen will vote against proposals including the re-election of Dr Chen, capping the number of directors at three, and the appointment of Mr Zhu to the board.

Chinese-born Mr Zhu controls 6.9 per cent of Global Lithium shares through his company Sincerity, which is part of a property development group with offices in Australia, China and South-East Asia.

Mr Zhu has raised concerns that the board was redirecting the miner’s focus away from lithium towards copper and gold exploration.

“This shift is concerning,” he said. “While lithium prices are currently down, we need to position the company to benefit when lithium market recovers.

“Lithium remains a highly valuable resource for the energy transaction in the future, and it is puzzling that the board has deprioritised this focus.”

Mr Zhu said his attempt to join the board “has been met by a smear campaign and strong resistance including costly applications to the Supreme Court”.


“Why has so much effort and cost have been put to exclude me from a board position? Surely shareholders should get to decide who sits on the board?” he added.

The ruckus has echoes of the battle over Northern Minerals, which last year resulted in the federal government forcing Chinese-linked shareholders to sell down their stakes in the strategic rare earths miner.

The Albanese government wants to limit foreign investment in critical minerals to “like-minded” parties, a phrase that is widely understood to exclude Chinese interests.

Northern Minerals has found heavy rare earths such as terbium and dysprosium at Browns Range in WA. China controls the world’s market for rare earths, which are used in the manufacture of high-tech weapons and other areas of national importance.

Northern Minerals’ Browns Range project will supply Australia’s first fully integrated rare earths refinerybeing built by Iluka Resources with a $1.25 billion government loan