Roberts buys $30m MinRes stake

Perth rich lister and Mineral Resources director Tim Roberts has bought a $29.6 million stake in the diversified mining company. 

A statement released on the ASX today reveals the purchase through Mr Roberts’ private investment company Kingfisher Capital.

He acquired about 2 million shares at an average price of $14.80 each.

Mr Roberts previously held about 7,000 MinRes shares. 

The move gives him about a 1 per cent stake in the Chris Ellison-led company.

Mr Roberts was appointed as a non-executive director to the company in November 2016.

He is the youngest son of the late John Roberts, who founded construction company Multiplex.

Aside from a number of board positions, including Crown Perth and Warburton Group, Mr Roberts also runs the multi-billion dollar AVWest Aircraft business.