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MARKETS

Age of Empire ends

MINING millionaire Chris Ellison’s Mineral Resources is now a direct player in the oil and gas game, after it exercised its right to procure the shut-in Red Gully gas-condensate field and all of the assets of failed junior Empire Oil & Gas.

Haydn Black
Chris Ellison.

Chris Ellison.

MinRes backed Empire in mid-2016, becoming one of a handful of hard rock players willing to dabble in the oil and gas space, spending $8.62 million to buy out ERM Power, and guaranteeing a $15.1 million...

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