Credit ratings agency Moody’s has cut its outlook for Mineral Resources to negative, citing the “potential negative implications of ... corporate governance issues” for downgrading the lithium and iron ore miner.
The downgrade will pile more pressure on the West Australian company’s board as it attempts to restore investor confidence after a tax scheme scandal that resulted in its billionaire founder Chris Ellison agreeing to stand down as managing director within 18 months.
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Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at mark.wembridge@nine.com.au
