Australia's wealthiest woman has thrown embattled WA mining mogul Chris Ellison a billion-dollar lifeline, just days before he learns the outcome of an investigation into allegations of tax evasion.
So why has Mrs Rinehart now swooped with cheque book in hand, and how will it change the face of WA's gas industry? It was alleged Mr Ellison and his associates arranged for Mineral Resources to buy mining equipment from the BVI companies at massively inflated prices, the spoils of which were then transferred into their individual offshore accounts which they paid no tax on.The investigation also alleged Mineral Resources used the inflated prices it paid for the machinery to claim increased tax deductions in depreciation costs.
"She's going to be the person who brings on more gas for the Perth market, along with Strike Energy and its partners."What does it mean for gas in WA?