Business Don't miss out on the headlines from Business. Followed categories will be added to My News. The head of Australia’s sovereign wealth fund has put Mineral Resources on notice over the tax evasion and other scandals surrounding the miner and its managing director Chris Ellison.
Future Fund chief executive Raphael Arndt also revealed he met senior BHP executives out of concern over the 2015 Samarco dam disaster and intends to follow up with the mining giant on its recent $45bn settlement with authorities in Brazil. Mr Arndt told a senate estimates hearing on Tuesday night that the Future Fund would seek more information from the MinRes board over Mr Ellison’s involvement in tax evasion and other dubious conduct exposed by whistleblowers and a subsequent company-ordered investigation by law firm Herbert Smith Freehills. The Future Fund holds about $88m in MinRes stock.
“We’ve raised the issue with our investment managers. We’ve asked them to engage with the company board on it and to let us know,” Mr Arndt said. “The issues raised are serious.
We’ve asked our fund manager to look into it and make sure they’re aware of it.” Mr Arndt said he didn’t usually get personally involved in major scandals involving mining companies but had felt compelled to speak directly with BHP over the Samarco disaster that claimed 19 lives and had a devastating impact on communities and the environment around Mariana in the Brazilian province of Minas Gerais. “However.
