https://newsletter.en.creamermedia.com
Business|Mining|Resources|Equipment
Business|Mining|Resources|Equipment
business|mining|resources|equipment

Mineral Resources says investigation to finish by next week

Chris Ellison

Chris Ellison

28th October 2024

By: Bloomberg

  

Font size: - +

Mineral Resources said its investigation into undeclared payments made to companies linked to its tycoon founder, Chris Ellison, would be completed by next week.

Ellison, who is managing director and a major shareholder, said the payments pre-dated the company’s 2006 listing, and came from overseas entities he and his business partners operated, and which sold mining equipment and parts. He did not declare the income from the supply contracts.

“There has been considerable media coverage since October 19 and the board’s investigation has evolved to respond to statements that do not accord with the company’s understanding of the facts,” Mineral Resources said in a corporate statement Monday.

The company’s shares slumped 26% last week after a report that Ellison had struck a deal with the Australian Taxation Office to repay owed money.

Edited by Bloomberg

Comments

Projects

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 22 November 2024
Magazine round up | 22 November 2024
22nd November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.075 0.18s - 192pq - 2rq
Subscribe Now