AustralianSuper has injected an additional $150 million into Mineral Resources (ASX:MIN), cementing its position as the miner’s second-largest shareholder.
Substantial shareholder filings reveal the nation’s largest superannuation fund snapped up three million shares in late January, boosting its total stake to 9.34%.
The aggressive buying spree leaves only founder and CEO Chris Ellison, who holds 11.5%, with a larger slice of the company.
The fund’s renewed appetite marks a dramatic pivot from late 2024, when it slashed its holdings following "disappointing" corporate governance failures.
However, under the leadership of Chair Malcolm Bundey—who has worked to fortify the balance sheet and governance structures—AustralianSuper has nearly doubled its stake since late 2025.
The institutional backing coincides with a volatile but recovering lithium market; despite recent price pullbacks due to oversupply fears, spodumene concentrate prices have tripled since June, driving MinRes shares from a low of $14.40 in September 2025 to a recent peak near $64.
The turnaround is also set to reward Bundey personally; his first tranche of 200,000 stock options vests this July.
At current market prices, even after exercise costs, those options alone represent a projected $6 million gain, signaling that both the board and major investors are betting heavily on the Perth-based miner’s long-term resurgence.