https://newsletter.en.creamermedia.com
Mining|Projects|Resources|Services
Mining|Projects|Resources|Services
mining|projects|resources|services

Pension fund HESTA exits Mineral Resources, citing governance concerns

Chris Ellison founded Mineral Resources

Chris Ellison founded Mineral Resources

12th May 2025

By: Reuters

  

Font size: - +

Australian pension fund HESTA said on Monday it had sold its remaining stake in billionaire Chris Ellison-founded Mineral Resources, citing "serious governance concerns".

The mining services provider has been grappling with governance issues, primarily involving Ellison, with allegations including tax evasion and misuse of company resources for personal projects.

In an email to Reuters, HESTA confirmed it had divested approximately A$14-million worth of its stake in Mineral Resources.

HESTA said concerns about the company's governance were not addressed quickly enough, despite repeated engagement with the board.

It added that departures of directors on the ethics and governance committee were a "significant step backwards" in addressing the concerns.

A spokesperson for Mineral Resources, in an emailed response to Reuters, said that the company remains committed to strengthening corporate governance and the appointment of the new chairman is "well advanced".

"The Ethics and Governance Committee will be maintained going forward," the spokesperson said.

Edited by Reuters

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (09/05/2025)
9th May 2025 By: Martin Creamer
Magazine round up | 09 May 2025
Magazine round up | 09 May 2025
9th May 2025

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:0.186 0.276s - 168pq - 2rq
Subscribe Now