News Articles for Chris Ellison

Diversified mining services company Mineral Resources has announced plans to acquire Atlas Iron in a scrip deal that values the iron ore miner at $280 million.

The directors of Mineral Resources and Altura Mining have enjoyed solid growth in the value of their shares over the past month, according to data on Director Shareholdings tracked by Business News.

Altura Mining directors Allan Buckler and Paul Mantell and AusCann Holdings directors Mal Washer and Harry Karelis have been among a group of major Western Australian investors to have the value of their portfolios hit as markets have fluctuated in recent weeks.

Mineral Resources has announced a 16 per cent lift in half-year net profit to $163 million, helped by several one-off factors including a big revaluation of its stake in lithium miner Pilbara Minerals, partly offset by impairment charges associated with its Yilgarn iron ore operation.

Sydney-based oil and gas company AWE has backed a revised $526 million takeover offer from Mineral Resources as the Perth-based mining outfit seeks to gain control of the Waitsia gas field in the Perth Basin.

Tech company Hazer Group has signed a binding agreement with Mineral Resources to develop a facility to produce synthetic graphite.

SPECIAL REPORT: Chris Ellison's astute commercial achievements placed him at the top of our short list of nine people contending to be person of the year.

Mineral Resources has disclosed that its planned lithium processing projects in the Pilbara will cost in excess of $600 million to build, with managing director Chris Ellison also revealing ambitions for more downstream processing projects.

The environmental watchdog has given the green light for BHP Billiton's planned 80 million tonnes per annum South Flank iron ore development, with first ore targeted in 2021.

Mineral Resources founder Chris Ellison has raised $36.9 million from the sale of some of his shares in the mining services group, adding to a string of big share sales by WA company directors who have cashed in on strong market rallies.

SPECIAL REPORT: The five WA people with the largest holdings in listed companies have earned around $1.5 billion in dividends in the past five years, with Andrew Forrest and Kerry Stokes leading the way. Click through for our list of 50 directors and investors with holdings worth more than $11 billion between them.

Directors of Mineral Resources have survived a motion for a spill meeting after a second strike against their remuneration report today, as managing director Chris Ellison stood firm on mining the Jackson5/Bungalbin iron ore deposit.

China's great environmental clean-up is starting to produce knock-on effects in Western Australia, with none more interesting than the ‘quality clash' in the iron ore sector.

Diversified business Mineral Resources has delivered a turnaround result for the 2017 financial year, along with a higher dividend payout.

OPINION: The boom in lithium demand is driving growth at one of the state's quiet achievers, Mineral Resources.

A major shareholder in failed manganese company Mesa Minerals has lost its bid to have administrators replaced after the Supreme Court ruled there was no evidence of bias between Pitcher Partners and Mesa's largest stakeholder, Mineral Resources.

The joint venture partners behind the Mt Marion lithium mine near Kalgoorlie have heralded an inaugural shipment of ore to China, with Mineral Resources becoming the state's third lithium producer.

Mineral Resources managing director Chris Ellison has sold down a small portion of his stake in the diversified Perth business, netting $21.6 million from the transaction.

SPECIAL REPORT: Some of WA's top company directors have achieved extraordinary gains in their wealth over the past year, and while most held onto their shares, a group of 11 reaped more than $180 million from share sales.

Macmahon Holdings has unveiled the remuneration package for new chief executive Michael Finnegan, adding to a trend in the contracting sector for lower base salaries but greater potential for bonuses.

Mineral Resources and Pilbara Minerals have resolved their offtake dispute for the Pilgangoora lithium project, with MinRes to surrender its entitlements in return for a $50 million stake in Pilbara.

Diversified business Mineral Resources has increased the size of its dividend payout on the back of an improved underlying profit and despite a statutory net loss.

Mineral Resources was coy about its plans after today announcing it has agreed to buy mining tenements, including lithium deposits, and infrastructure at the Wodgina tantalum mine, which is owned by private group Global Advanced Metals.

Mineral Resources chairman Peter Wade has sold down a majority of his shareholding in the mining and contracting group, pocketing about $8.04 million.

Iron ore miner Mineral Resources has added another string to its bow, taking a 19.3 per cent stake in domestic gas supplier Empire Oil & Gas, a week after the company increased its slice of the Mt Marion lithium project.

Shares in miner and contractor Mineral Resources were up 13 per cent today after it announced dividends of 8.5 cents per share, about 60 per cent larger than what it committed to in November.

Western Australia's highest paid mining contractor is set to lose that title, after NRW Holdings joined most of its peers in cutting the salary of its chief executive by 40 per cent.

This year's Business News Rising Stars award winner, Seqta, has concluded a capital raising with support from a number of high-profile investors, including Mineral Resources chief executive Chris Ellison and chairman Peter Wade, Revel Systems investor Sean Tomlinson and Navitas co-founder Peter Larsen.

SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state's best chief executives are unexpectedly low down.

SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state's best chief executives are unexpectedly low down.

NRW Holdings chairman Ian Burston has announced plans to step down, while also announcing a remuneration review that will include chief executive Julian Pemberton, whose annual pay is substantially higher than his peers.

SPECIAL REPORT: For the second year running, the value of shares held by company directors in WA has fallen sharply, though some operators defied the trend.

Decmil Group founder and director Denis Criddle has spent another $500,000 buying shares in the contracting company, adding to a string of big trades by company directors includng his son Scott Criddle, Chris Ellison, John Rothwell and Enzo Gullotti over the past month, according to BNiQ data.

The latest round of annual reports has revealed some highly unusual movements in chief executive remuneration, including at Monadelphous Group and Mineral Resources.

Mineral Resources has highlighted new growth opportunities in mining services, infrastructure and manufacturing after posting a sharp fall in annual earnings and cutting its dividend payments to shareholders.

The state government has announced a $40 million package to reduce charges at the Utah Point bulk handling facility by up to $2.50 per tonne, in an effort to help junior miners continue to export iron ore.

Iron ore miner Mineral Resources is pressing ahead with plans for innovative ‘skyrail' and trans-shipping projects in the Pilbara, saying that together they can cut $25 per tonne off its operating costs.

The financial incentives for higher cost mid-tier miners to either share infrastructure or merge is at an all-time high, according to accounting firm EY.

Mineral Resources has highlighted its focus on its services business, including the development of innovative bulk transport solutions, after reporting interim results that were dragged down by its iron ore mining operations.

Mid-tier iron ore miner Mineral Resources has criticised port charges after digging into its stockpiles to export 2.8 million tonnes in the December quarter.