The Best ASX Mining Stocks: Top Gold, Lithium & Copper Shares To Watch

Australia is known the world over as a premier mining country. Australian mining stocks are in the top tier of the world’s producers of lithium, nickel, copper, gold, silver, and other metals and minerals.

The world runs on hard commodities that come from the earth. Australian investors are blessed with a wealth of stellar miners from which to choose, in virtually all commodity categories. Australian mining stocks are the subject of a cornucopia of investment analysis from industry experts and stock market analysts, enabling investor research.

There is no such thing as a “best” stock that meets the needs of all Australian investors. The choice depends on the individual investor’s strategy. Some are attracted to bargain, or value stocks, while others prefer stocks with high growth potential.

Market capitalisation is a measure of how market participants perceive the value of the stock. Demand for commodities rises and falls and large cap stocks are more likely to have the financial resources to weather the storm. Large market caps provide some safety for the risk averse.

For investors looking to invest in Australian mining stocks, we’re revisiting a shortlist of mining ideas as we head into the new reporting cycle.

ASX mining stocks comparison snapshot (as of Mar 2026)

The Best ASX Lithium Mining Stocks

Not long ago Lithium was on fire with the perception demand driven by our insatiable appetite for battery-powered electronic devices and the anticipated shift from ICE (internal combustion engine) powered vehicles to battery powered vehicles, from cars and buses and trucks up to airplanes. Oversupply conditions and a slow fall of electric vehicle sales in the midst of high interest rates put the lithium price in a dramatic downward trend.

Source: dailymetalprice.com

With some analysts predicting the oversupply conditions that led to the price collapse will morph into a supply deficit in 2026, some ASX lithium stocks remain best buys in the longer term.

Here is one of the best ASX lithium miners on the ASX and another former best buy with a new owner.

Pilbara Minerals (ASX:PLS)

Pilbara claims its wholly owned Pilgangoora Lithium-Tantalum Project is the largest independently owned hard-rock lithium operation in the world, with two mines in production. The company also holds a 70% in the Mt Francisco joint venture.

Pilbara is looking to expand into the entire lithium supply chain and has another joint venture in place, with South Korea’s POSCO – the POSCO-Pilbara JV Company to build a lithium hydroxide chemical processing facility to be located in South Korea.

Pilbara’s Full Year 2023 Financial Results showed a 647% increase in revenue and a 989% increase net profit, but collapsing lithium prices crushed the company’s financials in FY 2024, with revenues dropping from $4.06 billion dollars to $1.25 billion and net profit sliding from 2.39 billion dollars to 0.25 billion in FY 2024.

Source: ASX website 30 June 2025

Half-Year 2025 results continued the collapse, with revenue down 44% and underlying results swinging from profit to loss; Pilbara reported a statutory loss after tax of $69 million.

Year over Year the share price is up 162%, but over five years , the boom years drove the share price appreciation up to 385%.

Galaxy/Orocobre/Allkem/Arcadium History

ASX mining giant Rio Tinto (ASX:RIO) finally achieved its goal of expanding into lithium mining when it acquired lithium miner Arcadium Lithium (ASX:LTM). Arcadium came into being following the merger of Allkem Lithium with US-based lithium chemicals producer Livent Corporation, combining mining and chemical processing into one company. Allkem came into being when ASX listed hard rock lithium miner Galaxy Resource combined with lithium from brine producer Orocobre.

The RIO share price spiked upwards on the news of the acquisition of Arcadium in early October of 2024.

The Best ASX Nickel Mining Stocks

Demand for nickel has broken out of its traditional use in stainless steels, vaulting into the latest holy grail of investing – critical battery minerals. The commodity is now in high demand for its use in batteries for electronic devices and electric vehicles.

IGO Limited (ASX:IGO)

IGO’s mission statement is to mine the metals needed for a clean energy future. IGO’s primary focus is its three Australia-based nickel mining operations. The company also holds a 49% interest in a lithium joint venture project with privately held Tianqi Lithium, as well as a 25% interest in another joint venture with ASX listed lithium miner, St. George Mining Limited (ASX:SGQ).

Full Year 2022 Financial Results showed a 34% revenue increase with a 40% profit decline due to a one-off charge from an asset divestment. Full Year 2023 financials were markedly improved, but the global slowdown in commodity pricing hit IGO hard in FY 2024.

Source: ASX Website

Half-Year 2025 results did nothing to ease investor angst, as revenues fell from $438 million dollars to $284 million and underlying net profit after tax went from a profit of $454 million dollars to a loss of $84 million. IGO’s most recent half-year report shows revenue $194.1M (vs $284.0M prior), net loss after tax $34.1M. Year over year the share price has added 96% .

Nickel Industries (ASX:NIC)

Nickel Industries holds interests of between 70% and 80% in four different nickel mining operations in Indonesia. Although the price of nickel escaped the downturn experienced with lithium, an oversupply of nickel and weakening demand in China kept pricing in check in volatile trading.

The company posted rising revenues and stable profits through FY 2023but posted a loss in FY 2024.

Source: ASX Website

The analyst community and investors remain bullish on the company with an OVERWEIGHT rating on the WSJ and an OUTPERFORM rating on marketscreener.com .

Year over year the stock price is up 19% but a ten year price performance chart with 93% rise shows the impact of rising and falling commodity prices.

The Best ASX Copper Mining Stocks

Copper has long been considered a bellwether for the economy, given its use in so many industrial applications. While not uniformly classified as a critical battery mineral, copper’s role has long past evolved beyond electrical wiring and plumbing into use in electronic components of all types as well as the electrical grid itself, electric vehicles, and renewable energy delivery systems.

Australian investors have two of the world’s largest copper mining companies listed on the ASX – BHP Group and Rio Tinto.

BHP Group (ASX:BHP)

With a market cap of around $293 billion, BHP is one of the largest stocks on the ASX, and the largest mining company in the world by market capitalisation. The company bills itself not as a mining company, but as a provider of the essential resources needed for global growth and a transition to cleaner energy.

The company has operations in virtually every corner of the world, producing copper, iron ore, nickel, metallurgical coal, and potash. BHP is a prolific dividend payer and has bounced back from challenging times repeatedly over the last decade, rising about 50%:

Year over year the share price has added 34.6%. BHP’s net profit has dropped in the last two fiscal years, following a 13% increase in revenue from operations and a 173% increase in profit in FY 2022. BHP has completed the acquisition of Oz Minerals, an ASX listed pure play copper producer.

Source: ASX Website

Half-Year 2025 financial results showed no improvement with revenues down 8% and attributable profit down 23%, forcing the company to cut its dividend payment by 30%. The WSJ dropped its recommendation to HOLD, while marketscreener.com maintained an OUTPERFORM rating.

Rio Tinto (ASX:RIO)

Rio’s mission statement is to find better ways to produce what the world needs. The company has operations in eight countries around the world, producing iron ore, aluminum, copper, lithium, borates, diamonds, and salts.

While BHP has decided to stay out of the lithium market, Rio has a demonstration plant in the US state of California to recover lithium from waste rock, along with projects in Argentina, Canada and a project on hold in Serbia. Rio recently acquired Arcadium Lithium, with assets in both hard rock and lithium from brine operations along with chemical refining of lithium, giving the company substantial access to the lithium market. Rio Tinto completed the acquisition on 6 March 2025, and Arcadium is now part of Rio Tinto’s lithium business

Like BHP, Rio’s share price performance over the last decade shows the company’s resilience in recovering from troubled times, up 102.6% over the decade.

Year over the year the stock price is up about 38%. Rio’s Full Year 2022 Financial Results reflected the challenging conditions of the year Net cash from operations fell 36% while net profit after tax dropped 41%. By contrast, the full year 2021 results showed a 60% increase in net cash from operations and a 116% rise in profit after tax. Revenues and profit dropped again in both FY 2022 and FY 2023 with FY 2024 showed a slight revenue decrease and an impressive 14% increase in net profit after tax.

Source: ASX Website

The Best ASX Gold Mining Stocks

Historically, gold has attracted investor interest as a safe haven in troubled times. Interest rates remain a key factor for risk appetite and valuations, with commodities often impacted.

Acquisition activity is generally a welcome sight for investors in a specific sector, as best of breed stocks are often gobbled up by larger competitors. Newmont mining upped its initial offer to buy Australia’s largest gold miner — Newcrest Mining (ASX:NCM) — with the deal sealed in mid-May of 2023, making Newmont the largest gold miner on the planet.

Northern Star Resources (ASX:NST)

With a market cap of around $39 billion, Northern Star now ranks at the top of the heap of ASX gold miners, with a stunning share price performance history over the last decade – up 792%. Year over year the share price is up 53%.

The company’s revenues have increased in each of the last four fiscal years, but net profit has yet to match the FY 2021 figure.

Source: ASX Website

Half-Year 2025 financial results were outstanding, with an 18% increase in revenues and a stunning 155% increase in net profit attributable to members.

Unlike Newcrest, Northern Star has managed significant growth while still paying dividends. The company began its climb in the ranks of ASX gold miners in 2010, with its first major acquisition – the Paulsen mine in Western Australia. Northern Star continued its aggressive acquisition strategy, with the company maintaining its pledge to pursue attractive acquisitions to this day.

The company has three operational gold mining centres – two here in Australia and one in Canada

The Best ASX Silver Mining Stocks

Silver is also considered a safe haven investment but does not match the allure of gold. The result of investor preference for gold is lower liquidity for silver investors. Silver is thinly traded but it is cheaper for retailers to buy and has industrial applications in a variety of green technologies, including electric vehicles and devices as well as solar panels.

Silver Mines Limited (ASX:SVL)

Silver Mines does not meet the large market cap standard at its current market cap of $204.6 million dollars, but it is the only pure play silver miner listed on the ASX.

The company is the sole owner of the Bowden Silver Project in New South Wales, reportedly the largest undeveloped silver deposit in Australia, with a feasibility study in place. Silver Mines is seeking financing for the project. The share price is up an impressive 168% over the past 12 months, with the chart up and to the right.

South32 Limited (S32)

South32 ‘spun off from BHP and began trading on the ASX in May of 2015, rising a modest 32.8% since listing with a market cap of $13.11 billion dollars.

South 32 operates in Australia, South Africa, and South America with a highly diversified asset base. The company’s Cannington Mine in Queensland is one of the largest silver and zinc mines in the world.

The South32 Full Year 2022 Financial Results saw a 69% revenue increase and a 432% rise in underlying earnings, but the company has seen hard times since, with declining revenues and profits turned into losses in both FY 2023 and FY 2024.

Source: ASX website

Half-Year 2025 financial results were encouraging, with revenues up 25% and profit attributable to members up 579%. The stock price has been rising since the Half-Year Results release. Analysts are bullish on the stock with a consensus OUTPERFORM rating from 14 analysts reporting on marketcreener.com.

Market Capitalisation provides a measure of safety when seeking best stocks. A large market cap tells the potential investor other market participants regard the stock highly. While ASX mining stocks are among the best in the world, junior miners face the gauntlet of expense after expense bring a mining prospect into production.

Mining Stocks FAQs

How do you Invest in Junior Mining Stocks?

You can invest in Junior mining stocks by purchasing shares through a regulated broker. Junior mining stocks are new or smaller companies looking to develop a natural resource deposit. They are riskier than investing in major mining companies as they tend to have lower amounts of capital and shorter histories. Their popularity with Australian investors comes from the fact that their value can increase dramatically if they hit upon a large deposit of the resource they are mining. However there is no way to know how much of the natural resource is contained in the deposit, so their value can easily drop should the deposit not live up to expectation. Investors should always do their due diligence and have a risk management plan in place.

Which Companies are Mining Lithium?

Lithium is a commodity that is used in the manufacture of batteries. Demand for lithium has grown in recent years due to increasing sales of electric vehicles. Australian companies with lithium exposure include Pilbara Minerals and Rio Tinto (which acquired Arcadium Lithium, formerly Allkem

When is the Best Time to Buy Gold Stocks?

Gold mining stocks are companies whose value is closely tied to the price of gold, though their stock price is affected by other factors as well. Gold is an asset that is traditionally seen as a safe haven in times of uncertainty. Typically the price of gold rises in periods of high inflation and recession. On average the price of gold tends to climb during January and February before dropping off during the Spring and Summer months and climbing again in the Autumn. You should always do your own research before deciding to invest and never risk more than you can afford to lose.

Are Copper Mining Stocks Worth Buying?

Copper mining stocks could be worth buying. As global demand for electricity grows, copper mining stocks could prove to be a worthwhile investment. However, you should do your own due diligence and take into account your own financial situation before deciding to invest.