Kwasi Kwarteng has reportedly been offered an advisory role at Aussie commodities giant Fortescue Metals Group.
Andrew Forrest, Fortescue’s founder and executive chairman, has approached the former chancellor – who could begin work with the company as soon as this year, according to the AFR.
Kwarteng would not be Forrest’s first appointment of a politician, with Lord Sebastian Coe currently sitting on Fortescue’s board, while former Australian president Malcolm Turnbull is chairman of the group’s green energy arm, Australian Fortescue Future Industries.
There is no specific indication of the role Kwarteng would hold, but the Conservative MP is an outspoken advocate of green energy and mineral procurement.
Fortescue Future Industries has previously described Kwarteng as a friend of the company.
The news comes just days after the departure of chief executive Fiona Hick after just six months at the helm, with the gorup posting its weakest profits in three years.
Her mutually agreed exit was the tenth boardroom exit since 2020, with the company still reshuffling its senior team.
Forrest recently criticised the UK government’s decision to offer more oil and gas licences, warning that he would pull investments if it retreated from the green energy transition.
Earlier this year, Fortescue announced plans to boost the production of batteries and electric powertrains in the country.
“In accordance with the ministerial code, until the Advisory Committee on Business Appointments publishes advice Mr Kwarteng will not be taking up any appointments,” a spokesperson for the politician said when approached for comment.
Fortescue has also been approached for comment by City A.M.