Australia's corporate watchdog ends probe into Mineral Resources, MD Ellison with no action

Mineral Resources

01/09/2026 08:18

By Keshav SinghChundawat and Kumar Tanishk
Sept 1 (Reuters) - Australia's Mineral Resources MIN.AX on Tuesday said that the country's corporate watchdog had concluded its investigation into the miner and Managing Director Chris Ellison over governance issues and does not intend to take further action.

Here are some details:
In 2024, the Australian Securities and Investments Commission (ASIC) launched an investigation into the miner and Ellison to probe issues such as tax evasion and misuse of company resources for personal matters.
ASIC said it "assessed the available evidence, applicable law, prospects of success and broader public interest considerations before determining that no further regulatory action was warranted".
The ASIC investigation also included Kali Metals' IPO, where Ellison took up substantial allocations.
"Institutional investors will read this (investigation conclusion) as removing a legal overhang, allowing them (MinRes) to focus on assessing more standard questions of governance," said Emanuel Ajay Datt, managing director of investment manager Datt Capital.
Mineral Resources' shares closed 0.6% higher at A$65.

 (Reporting by Keshav Singh Chundawat in Bengaluru; Editing by Sonia Cheema)
 ((Keshav.singhchundawat@thomsonreuters.com))