Bloomberg

Australian Pension Group Rejects Mineral Resources Pay Proposal

I.Mitchell35 min ago
A group representing Australia's A$3.9 trillion ($2.5 trillion) pension industry has recommended its members vote against the remuneration plan of scandal-hit Mineral Resources Ltd. at the company's annual general meeting on Thursday.

The Australian Council of Superannuation Investors wants to clarify what directors knew about Mineral Resources' investment in industrial property that was part-owned by Managing Director Chris Ellison . The Perth-based miner bought 49% of a company linked to Ellison that owned the property, the Australian Financial Review reportedBloomberg Terminal last week, the latest in a series of scandals that has seen the company lose more than half its value from a peak in May.

Read the full article:https://www.bloomberg.com/news/articles/2024-11-19/australian-pension-group-rejects-mineral-resources-pay-proposal
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