The ASX200 has been up 0.21% at 8,135 points.
Mineral Resources (ASX:MIN) founder and chief executive Chris Ellison will exit the company within 18 months after the board found he had not acted with integrity. Chairman James McClements also revealed he will leave within a year in a bid to rehabilitate the company’s reputation.
MinRes has been down 9.4% at $36.80.
Utilities has been the best performing sector, up 1.4%, followed by Information Technology 1.2%, and Telecommunication, up 1%.
Energy has been the worst performing sector, down 0.85%, followed by Materials, down around 0.6%.
Company News
Rio Tinto (ASX:RIO) has been down 1.2% as the fallout at MinRes affects the entire mining sector – Rio has not been immune.
Rio Tinto has been $119.87.
Ordell Minerals (ASX:ORD) has been up 57% on news of shallow intercepts of high-grade gold. This includes up to 47.5 grams per tonne (g/t) at its WA gold project.
Ordell Minerals has been 34.5 cents.
Woodside (ASX:WDS) has been down 0.9% after a 1% jump in the oil price. This was sparked by OPEC declaring a one-month delay to December production increases.
Woodside has been $23.85.