Stuart Robert breached ministerial standards on a trip to Beijing in 2014, a report has found.
Prime Minister Malcolm Turnbull released on Friday the findings of an investigation into the trip and confirmed Mr Robert had asked not to be considered for a ministerial position in the pending reshuffle.
The prime minister's departmental secretary, Martin Parkinson, investigated the August 2014 trip by the minister.
"Mr Robert advised Dr Parkinson that at the time he travelled to Beijing in August 2014 he did not believe that he had any interest in or connection to Mr Paul Marks' company, Nimrod Resources," Mr Turnbull said.
"In the course of assisting the investigation, Mr Roberts advised Dr Parkinson that on checking his records he had become aware that shares in Metallum Holdings Pty Ltd, a company in which Mr Marks was also a shareholder, had been allocated to his trustee some time before the visit to Beijing."
Mr Robert told Dr Parkinson the share allocation had been done without his knowledge.
The minister also admitted to the inquiry Metallum Holdings Pty Ltd had an interest in Nimrod Resources.
"Mr Robert recognised that this connection would create the impression that at the time he went to Beijing he had something personally to gain from the Nimrod Resources project," Mr Turnbull said.
"As a result, Mr Robert has asked me not to consider him in the pending reshuffle of the ministry."
Dr Parkinson concluded Mr Robert had acted "inconsistently with the statement of ministerial standards", although the secretary accepted Mr Robert may not have intended to do so.
Mr Robert appeared to have not received any financial benefit and the conduct in question did not directly relate to his ministerial duties.
The prime minister's departmental secretary Martin Parkinson investigated the August 2014 trip by the minister.
"Mr Robert advised Dr Parkinson that at the time he travelled to Beijing in August 2014 he did not believe that he had any interest in or connection to Mr Paul Marks' company, Nimrod Resources," Mr Turnbull said.
"In the course of assisting the investigation, Mr Roberts advised Dr Parkinson that on checking his records he had become aware that shares in Metallum Holdings Pty Ltd, a company in which Mr Marks was also a shareholder, had been allocated to his trustee some time before the visit to Beijing."
Mr Robert told Dr Parkinson the share allocation had been done without his knowledge.
The minister also admitted to the inquiry Metallum Holdings Pty Ltd had an interest in Nimrod Resources.
"Mr Robert recognised that this connection would create the impression that at the time he went to Beijing he had something personally to gain from the Nimrod Resources project," Mr Turnbull said.
"As a result, Mr Robert has asked me not to consider him in the pending reshuffle of the ministry."
Dr Parkinson concluded Mr Robert had acted "inconsistently with the statement of ministerial standards", although the secretary accepted Mr Robert may not have intended to do so.
Mr Robert appeared to have not received any financial benefit and the conduct in question did not directly relate to his ministerial duties.
