Activist Elliott Builds Over $716 Million Stake in Australian Miner Northern Star

Dow Jones06:57

By Rhiannon Hoyle

Elliott Investment Management has built a stake valued at more than 1 billion Australian dollars, equivalent to US$716 million, in Northern Star Resources and is seeking a strategic review of Australia's largest gold miner.

Elliott said that "Northern Star's recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action." It wants Northern Star to conduct a strategic review in tandem with its search for a new chief executive and a process aimed at identifying operational improvements.

A spokesman for Northern Star declined to immediately comment.

Northern Star recently announced that CEO Stuart Tonkin would step down in the coming months after nearly a decade in the role. A global search firm was being appointed to find Tonkin's successor, the company said.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

June 01, 2026 18:57 ET (22:57 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2640960458?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-02 06:57","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2640960458","market":"nz","top_or_hot":-1,"title":"Activist Elliott Builds Over $716 Million Stake in Australian Miner Northern Star","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Rhiannon Hoyle \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Elliott Investment Management has built a stake valued at more than 1 billion Australian dollars, equivalent to US$716 million, in <a href=\"https://laohu8.com/S/STIC.U\">Northern Star</a> Resources and is seeking a strategic review of Australia's largest gold miner.  \n</p>\n<p>\n  Elliott said that \"<a href=\"https://laohu8.com/S/NSTC.U\">Northern Star</a>'s recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action.\" It wants <a href=\"https://laohu8.com/S/NSTD.U\">Northern Star</a> to conduct a strategic review in tandem with its search for a new chief executive and a process aimed at identifying operational improvements. \n</p>\n<p>\n  A spokesman for <a href=\"https://laohu8.com/S/NESRF\">Northern Star</a> declined to immediately comment.  \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/NSTB\">Northern Star</a> recently announced that CEO Stuart Tonkin would step down in the coming months after nearly a decade in the role. A global search firm was being appointed to find Tonkin's successor, the company said.  \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 01, 2026 18:57 ET (22:57 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Activist Elliott Builds Over $716 Million Stake in Australian Miner Northern Star</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nActivist Elliott Builds Over $716 Million Stake in Australian Miner Northern Star\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-02 06:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Rhiannon Hoyle \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Elliott Investment Management has built a stake valued at more than 1 billion Australian dollars, equivalent to US$716 million, in <a href=\"https://laohu8.com/S/STIC.U\">Northern Star</a> Resources and is seeking a strategic review of Australia's largest gold miner.  \n</p>\n<p>\n  Elliott said that \"<a href=\"https://laohu8.com/S/NSTC.U\">Northern Star</a>'s recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action.\" It wants <a href=\"https://laohu8.com/S/NSTD.U\">Northern Star</a> to conduct a strategic review in tandem with its search for a new chief executive and a process aimed at identifying operational improvements. \n</p>\n<p>\n  A spokesman for <a href=\"https://laohu8.com/S/NESRF\">Northern Star</a> declined to immediately comment.  \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/NSTB\">Northern Star</a> recently announced that CEO Stuart Tonkin would step down in the coming months after nearly a decade in the role. A global search firm was being appointed to find Tonkin's successor, the company said.  \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 01, 2026 18:57 ET (22:57 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7506","symbol_name":"金矿股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2640960458","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2640960458","pubTimestamp":1780354620,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Elliott Investment Management has built a stake valued at more than 1 billion Australian dollars, equivalent to US$716 million, in Northern Star Resources and is seeking a strategic review of Australia's largest gold miner.Elliott said that \"Northern Star's recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action.\" It wants Northern Star to conduct a strategic review in tandem with its search for a new chief executive and a process aimed at identifying operational improvements.A spokesman for Northern Star declined to immediately comment.Northern Star recently announced that CEO Stuart Tonkin would step down in the coming months after nearly a decade in the role. A global search firm was being appointed to find Tonkin's successor, the company said.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7506":"金矿股","NST.AU":"NORTHERN STAR RESOURCES LTD","BK7104":"黄金"},"translate_title":"活动家埃利奥特持有澳大利亚矿业公司Northern Star价值超过7.16亿美元的股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NST.AU":0.9},"content_text":"By Rhiannon Hoyle \n\n\n \n\n\n  Elliott Investment Management has built a stake valued at more than 1 billion Australian dollars, equivalent to US$716 million, in Northern Star Resources and is seeking a strategic review of Australia's largest gold miner.  \n\n\n  Elliott said that \"Northern Star's recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action.\" It wants Northern Star to conduct a strategic review in tandem with its search for a new chief executive and a process aimed at identifying operational improvements. \n\n\n  A spokesman for Northern Star declined to immediately comment.  \n\n\nNorthern Star recently announced that CEO Stuart Tonkin would step down in the coming months after nearly a decade in the role. A global search firm was being appointed to find Tonkin's successor, the company said.  \n\n\n \n\n\n  Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 01, 2026 18:57 ET (22:57 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.4","shortVersion":"4.42.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640960458","isCrawlerRequest":true}