The enormous success of Mineral Resources has made many investors rich — but few more than TDM Growth Partners. Which probably goes a long way towards explaining the praise the Sydney outfit showered on the company and its chief executive Chris Ellison in an interview with Capital Brief last October.
“Ellison is a special person but more than that he’s created a special culture around him that is really something. That’s why we’ve kept owning that business through all of the ups and downs over the years,” TDM co-founder Hamish Corlett said in the interview.
Back in 2006, before most people had ever heard of MinRes, the burgeoning Sydney investment outfit fatefully backed the plucky iron ore and lithium miner. Its success became TDM’s success as it swelled from a $100 million company to a $15 billion juggernaut. Over two decades, TDM held tight and reaped the rewards.
TDM hasn’t said much publicly about its MinRes investment since that October interview, but many shareholders are still supportive of Ellison despite the stinging allegations of tax evasion and related party transactions levelled at him and the company over the past couple of months.
