Controversial mining billionaire Chris Ellison has strengthened his grip on Mineral Resources, the company he founded, reneging on repeated promises to quit by mid-2026 despite being the target of ongoing probes by regulators.

The under-fire New Zealander – who was awarded almost $7 million in stock incentives by shareholders – said he would “ignore the noise” surrounding his conduct, which included his admission of defrauding investors and taxpayers in an alleged offshore tax rort and the use of company resources for personal gain.