Neil Chenoweth

Sydney

Investigative Reporter at Australian Financial Review

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Articles

Inside Chris Ellison’s brutal executive meetings

Nov 22, 2024 | afr.com | Neil Chenoweth

Nov 23, 2024 – 5.00am or Subscribe to save articleEmailLinkedInTwitterFacebookSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? Mineral Resources founder Chris Ellison has always prided himself on speaking plainly. The process can be brutal. In the middle of last year, he held a meeting of senior executives in the MinRes boardroom, and he wasn’t a happy camper. Loading...
The $45m MinRes property deal – with the Ellisons on the other side

Nov 14, 2024 | afr.com | Neil Chenoweth |Mark Di Stefano

In the last weeks of May, as Mineral Resources began to struggle under a $4.4 billion debt load, the iron ore and lithium miner’s managing director, Chris Ellison, pulled out the company chequebook to do a deal worth tens of millions of dollars. It turns out he had personal skin in the game. But the big investment in rezoned industrial land north of Perth would remain a mystery to shareholders, mentioned only in passing in the company’s annual report published three months later. Loading...
Chris Ellison’s personal accountant Yenna Ong, and her rapid rise and disappearance

Nov 8, 2024 | afr.com | Neil Chenoweth

Nov 9, 2024 – 5.00am or Subscribe to save articleEmailLinkedInTwitterFacebookSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? The eyes are compelling, the smile carries a hint of mystery, but most of all the full-page studio portrait in the Mineral Resources 2023 annual report underlines the power that Yenna Ong wielded in the iron ore and lithium mining giant. It’s a name few outside the company know.
Inside the two-week unravelling of Chris Ellison’s hold on his empire

Nov 3, 2024 | afr.com | Mark Di Stefano |Neil Chenoweth

Nov 4, 2024 – 8.09pm or Subscribe to save articleEmailLinkedInTwitterFacebookSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? It was in the winter of 2019 that a string of incriminating emails began disappearing from the Mineral Resources servers.
MinRes paid a 70pc mark up to rent Chris Ellison-owned properties

Nov 3, 2024 | afr.com | Neil Chenoweth |Mark Di Stefano

Mineral Resources founder Chris Ellison and other senior executives charged up to 70 per cent above market rates for industrial properties that they have leased to the diversified mining group since 2006, according to independent valuations they themselves commissioned in 2020. The valuations by Knight Frank raise questions about aggressive rent increases which have resulted in MinRes paying $31.6 million to lease the Ellison properties since the company listed on the ASX.
Ellison’s executives revealed as owners in blockbuster lithium IPO

Oct 31, 2024 | afr.com | Mark Di Stefano |Neil Chenoweth

Three senior Mineral Resources executives who report to managing director Chris Ellison personally bought shares in Kali Metals, the lithium explorer whose share price spiked by more than 200 per cent in January because of aggressive buying by MinRes. Kali Metals is a Perth-based lithium hopeful with prospective ground in Western Australia, NSW and Victoria that made its sharemarket debut on January 8 after raising $15 million from investors at an offer price of 25¢ a share. Loading...
The documents the MinRes directors didn’t see

Oct 29, 2024 | afr.com | Neil Chenoweth

The Mineral Resources board’s latest attempt to cauterise the company’s governance crisis underlines the timing and disclosure challenges facing its directors. Are they satisfied with Ellison’s level of disclosure, and the extent of his co-operation with the board investigation involving Herbert Smith Freehills? Loading...
How secrets of Mineral Resources’ Chris Ellison came to light

Oct 25, 2024 | afr.com | Neil Chenoweth

Oct 26, 2024 – 5.00am or Subscribe to save articleEmailLinkedInTwitterFacebookSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? When mining group Mineral Resources asked Herbert Smith Freehills months ago to investigate scorching allegations against its founder, Chris Ellison, the law firm was thrust into one of the most contentious governance cases of the year.
MinRes sold farm equipment to Chris Ellison and Tim Roberts at a steep discount

Oct 24, 2024 | afr.com | Mark Di Stefano |Neil Chenoweth

Two Mineral Resources board members, including founder and managing director Chris Ellison purchased hundreds of thousands of dollars worth of mining equipment from the company for use at their luxury New Zealand estate at significant discounts to market rates. Mr Ellison and then-MinRes director Tim Roberts bought the heavy equipment from the company’s PIHA subsidiary in July 2017, according to an invoice obtained by The Australian Financial Review.
When did the MinRes board learn of Chris Ellison’s offshore scandal?

Oct 22, 2024 | afr.com | Neil Chenoweth

Five days after The Australian Financial Review reported that Mineral Resources founder Chris Ellison ran an offshore tax scheme for 10 years, the MinRes board is still to answer two core questions: when did they find out about it, and why didn’t they tell shareholders? Chairman James McClement told investors on Monday that a board investigation of the matter was “well advanced”, while minimising the seriousness of the issue and expressing “full confidence” in Ellison.