Shareholders seek ASIC probe into Todd-controlled Flinders Mines

Todd Corp has been pursuing a giant iron ore project in the Pilbara, like that pictured, since 2014. (Image: Getty)

Thu, 21 Jul 2022

Minority shareholders of Western Australian iron ore developer Flinders Mines have renewed their battle with Todd Corp, lodging a formal request for an investigation by the Australian Securities and Investment Commission into dealings at the ASX-listed company.Flinders minorities have been at war on and off with the board of Flinders Mines (FMS), which is controlled with a 59% shareholding by Todd Corp, the holding company for the estimated $4 billion of assets held by New Zealand’s wealthiest family.As a group, they represent no more tha...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

Bega's billionaire backer backs Fonterra brands bid

Twiggy Forrest has a net worth over A$30b.

Riley Kennedy 1:35pm

Markets

Shipping giant takes over NZ ocean freight firm Armacup

Armacup CEO Mark Ching steps down after 18 years.

John Anthony 10:45am

Shipping giant takes over NZ ocean freight firm Armacup

Markets

Being AI divests from education

The AI company says the move was needed to take $3.9m in liabilities off its books.

Staff reporters 9:45am

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Markets

Primary Sector

Bega's billionaire backer backs Fonterra brands bid

Twiggy Forrest has a net worth over A$30b.

Riley Kennedy 1:35pm

Markets

Shipping giant takes over NZ ocean freight firm Armacup

Armacup CEO Mark Ching steps down after 18 years.

John Anthony 10:45am

Markets

Auckland Airport's new cargo precinct should ease strain

Auckland International Airport (AIA) says a new cargo precinct should take some strain off roads and has today reported a big increase in some fresh produce freighted in summer.Overall, fruit and vegetable air freight was up 34% in December, January and February compared with the...

Staff reporters 10:30am

Markets

Being AI divests from education

The AI company says the move was needed to take $3.9m in liabilities off its books.

Staff reporters 9:45am

Shareholders seek ASIC probe into Todd-controlled Flinders Mines

More Markets

Your company has a subscription

Team