Mineral Resources Limited has been informed by the Australian Securities and Investments Commission that its investigation into the company, its current and former directors and officers, and Managing Director Chris Ellison has concluded without any enforcement action being taken.

The regulatory clearance follows governance changes implemented by the board in November 2024 regarding Ellison. Those measures involved financial penalties totalling $8.8 million alongside an accelerated leadership succession plan aimed at securing an orderly transition within a 12 to 18 month timeframe.

In addition to the regulatory outcome, Mineral Resources Limited anticipates completing the POSCO transaction. The agreement will generate gross proceeds of US$765 million and is expected to reduce net debt to $3.2 billion, bringing the net-debt-to-Underlying EBITDA ratio to approximately 1.2 times. Finalisation of the transaction remains subject to the satisfaction of conditions precedent.

Read the full announcement: Conclusion of ASIC investigation