The company’s share prices has plunged more than 25 per cent in the past week since founder and managing director Chris Ellison issued an apology over tax avoidance.
Michael Masterman and his Element Zero team will fight a judge’s decision to not kill Fortescue search and seizure orders despite her findings of material non-disclosure.
Stockbroker RBC Capital Markets said Monday’s sell-off was exaggerated but warned there may not be a meaningful recovery until the outcome of a board investigation is known.
Shares in Mineral Resources plummeted after its founder and boss Chris Ellison admitted to a ‘serious lapse of judgment’ over his offshore tax affairs.
Persistent cost inflation and low-grade iron ore at Rio Tinto’s mining heartland is eating into margins and delivered a quarterly result labelled as ‘disappointing’.
Rio Tinto will can plans for a new deposit due to be part of its Rhodes Ridge expansion in the Pilbara, in a move it claims will help save the habitat of a population of ghost bats.
Rumours of iron ore’s price demise have been greatly exaggerated, according to some analysts, who now see a stellar reversal of fortune for the steel-making ingredient back towards $US120 a tonne.
Rio Tinto chairman Dominic Barton has declared the world needs more mines to cope with rising demand for key energy-transition metals like copper, with mergers and acquisitions unable to plug a supply gap.
Mining billionaire Chris Ellison on why he wants the meddling Federal Government to butt out of the nation’s resources powerhouse State and how China bashing is going to harm the economy.