Brockman boss charged with bribery
The chief executive of Brockman Mining Luk Kin Peter Joseph has been charged with bribery offences over a $15 million company sale.
The charges do not relate to his current position at Brockman Mining.
Hong Kong's corruption body said Mr Luk, a former executive director of China Mining Resources Group (CMRG), faces two charges over the sale of a CMRG subsidiary.
Hong Kong's Independent Commission Against Corruption (ICAC) alleges Mr Luk offered and accepted an "advantage consisting of 1.5 million shares of the company in relation to the sale of one of its subsidiaries at $15 million".
Mr Luk also faces one count of conspiracy to use a document with intent to deceive their principal.
It comes at a sensitive time for Australian-listed iron ore junior Brockman which is battling for access to Fortescue Metals Group's railway in the Pilbara region of Western Australia.
The charges date back to 2008 and relate to Mr Luk offering CMRG shares worth $330,000 (HK) to former CMRG financial controller Yu Oi-kee as a reward for processing the sale of a company subsidiary, Cell Therapy Technologies Centre (CTTC) Limited.
In a statement to the Australian stock-exchange Brockman said Mr Luk denied the charges and said the matter had taken place before he became a director of Brockman Mining.
Brockman, which has an office in Perth, said the charges do not relate to the company and the normal daily business of the group will not be affected.
"Mr Luk will continue to undertake and discharge his duties as the chief executive officer," Brockman said in a statement.
"Mr Luk refutes the charges and intends to defend the allegations made against him."
Mr Luk is on bail and expected to appear in Hong Kong's Eastern Magistracy court on Monday for transfer to the District Court.
Hong Kong-based Brockman is in a dispute with Fortescue Metals Group over access to its railway under the state's third party access laws.
Brockman has a large iron ore deposit in the Pilbara region of Western Australia but it does not have a way to transport iron ore to port for export.
Yesterday the WA regulator cut the amount that Fortescue can charge third parties after saying Fortescue's contract with the WA government meant it was obligated to provide reasonable access.
