Six companies and individuals based in China, Hong Kong and the British Virgin Islands who dominate the investor base of rare earth miner Northern Minerals have been ordered by Treasurer Jim Chalmers to divest their shareholdings.

Jim Chalmers has ordered six investors to dump shares in a rare earths mining company following concerns over Chinese influence over the company.

The Treasurer has intervened to force some Northern Minerals investors to sell their holdings, after previous orders were flouted.