Top ASX mining shares to watch in 2026

What are mining shares?

Mining shares are the stocks of publicly traded companies involved in the exploration, extraction and production of minerals and resources such as gold, copper, iron ore, lithium and rare earths. These materials are essential to modern economies, used in everything from construction and manufacturing to renewable energy and electric vehicles (EVs).

Why is mining important for Australia’s economy?

In Australia, mining plays a major role in the national economy. The ASX is home to hundreds of mining companies, ranging from global giants like BHP and Rio Tinto to small-cap explorers still searching for their first commercial discovery. This diversity makes the mining sector one of the most active and closely watched areas of the Australian share market.

What is the appeal of ASX mining shares?

Share traders are often drawn to mining shares because they can offer strong long-term growth potential, especially when global demand for key resources rises. The success of a mining company is closely tied to commodity prices, production costs and the progress of exploration projects – all of which can affect profits and share performance.

For CFD traders, mining shares can also provide short-term opportunities. Commodity markets often move quickly in response to economic data, supply chain news and changes in global demand. These price swings can translate into sharp movements in mining shares, creating opportunities for active traders to benefit from both upward and downward trends.

Advantages of mining shares

• Strong growth potential: When global demand for resources rises, such as for gold, copper or lithium, mining companies can see sharp increases in revenue and share prices
• Exposure to global trends: Mining shares give share traders a way to benefit from major global shifts like the clean energy transition, EV growth and infrastructure expansion
• Dividends from established miners: Large, profitable mining companies often pay attractive dividends, providing regular income alongside potential capital gains
• Diversification benefits: Adding mining shares to a portfolio can diversify exposure beyond financials, technology or property sectors, especially since commodity cycles often move differently from other markets

Risks of mining shares

• Commodity price risk: Mining company profits depend heavily on commodity prices, which can fluctuate sharply due to global demand, supply issues and geopolitical tensions
• High operational costs and risks: Mining projects are expensive to run and can face delays, cost overruns or environmental challenges
• Volatility: Many mining shares, especially small and mid-cap explorers, experience large price swings based on news, drilling results and other factors
• Cyclical nature: The mining sector moves in cycles. During downturns, even strong companies can see their share prices fall significantly

Top 3 ASX mining shares for share traders to watch in 2026

We chose these three shares for their strong year-to-date (YTD) performance, solid production track records and exposure to long-term demand for gold. 

Overview of the shares in this section

You can share trade all of these stocks with us.

All figures are accurate as of 29 April 2026.

1. Rio Tinto (ASX: RIO)

Market cap: A$126.27 billion

Rio Tinto is one of the world’s largest metals and mining corporations, focusing on the extraction and processing of the earth’s mineral resources. While it’s best known as a global leader in iron ore production, it also maintains significant operations in aluminium, copper and lithium.

The company operates high-scale mines, refineries and smelting plants across the globe, providing the essential materials required for infrastructure, transport and the transition to renewable energy.

The company has recently reinforced its commitment to the energy transition by completing mechanical works on key lithium projects and announcing a major investment in regional housing to support its workforce in Western Australia.

Rio Tinto is often viewed as a reliable income and growth stock. It’s suitable for those seeking exposure to global industrial demand and consistent dividend payouts. The company’s massive scale and diversified portfolio provide a level of stability that is rare in the volatile mining sector. Its high liquidity makes it possible for share traders to build or exit large positions without significantly impacting the share price.

Risks:

• The primary risk for share traders is the company’s heavy sensitivity to the Chinese economy, which is the largest consumer of its iron ore. Any slowdown in Chinese construction or manufacturing can lead to a drop in commodity prices
• As a large-scale operator, it faces ongoing environmental and social governance (ESG) pressures, where any operational or safety incidents can lead to significant reputational and financial damage

2. PLS Group Limited (ASX: PLS)

Market cap: A$19.69 billion

PLS Group is a leading Australian lithium producer that owns and operates the Pilgangoora operation in Western Australia. It’s a pure-play lithium company, meaning its business model is centred on the extraction and processing of spodumene concentrate. This material is a critical component in the production of lithium-ion batteries, which power electric vehicles (EVs) and large-scale energy storage systems.

Notable news from the past six months includes a dramatic financial turnaround driven by a rebound in global lithium prices.

Share traders are attracted to the company for its direct leverage to the green energy transition. It’s suitable for those who believe in the long-term growth of the EV market and want a high-growth stock that has already moved past the risky development phase into profitable production. Unlike smaller explorers, it has a strong cash balance and proven operational history, making it a solid play within a speculative sector.

Risks:

• The inherent volatility of lithium prices. If EV adoption slows down or new battery technologies emerge that require less lithium, the company's margins could be squeezed

3. South32 Limited (ASX: S32)

Market cap: A$19.29 billion

South32 is a globally diversified mining and metals company that was originally spun out from BHP. It focuses on a wide range of commodities that are essential for a low-carbon future, including copper, zinc, lead, silver and manganese. The company operates a portfolio of high-quality assets across Australia, Southern Africa and South America. Rather than focusing on iron ore, it specialises in base metals and alumina, positioning itself as a key supplier for industrial manufacturing and the global energy shift.

In recent months, South32 has delivered strong financial results underpinned by rising prices for base and precious metals.

For share traders, South32 offers a unique way to diversify away from the iron ore-heavy majors like BHP or Rio Tinto. It’s suitable for those looking for base metal exposure and those who appreciate a management team focused on returning capital through dividends and share buy-backs.

Risks:

• The high energy intensity of its operations, particularly in aluminium smelting. Rising global energy costs or supply disruptions can significantly impact its profitability

Top 3 ASX mining shares for CFD traders to watch in 2026

We selected these three shares based on their recent share price volatility and strong connection to fast-moving commodities.

Overview of the shares in this section

These shares can all be traded with us via CFD trading.

All figures are accurate as of 29 April 2026.

1. Whitehaven Coal Limited (ASX: WHC)

Market cap: A$6.30 billion

Whitehaven Coal is the leading independent producer of high-quality coal in Australia. It operates several large-scale open-cut and underground mines in New South Wales and Queensland.

The company specialises in both metallurgical coal, which is used in the steel-making process, and high-energy thermal coal, which is used for high-efficiency power generation. By managing its own logistics and infrastructure, it ensures the reliable delivery of its products to major industrial customers throughout Asia.

The last six months have seen Whitehaven successfully integrate two massive new mines –Daunia and Blackwater – acquired from the BHP Mitsubishi Alliance. This acquisition has significantly shifted the company's production mix toward metallurgical coal.

CFD traders often gravitate toward Whitehaven Coal because it’s highly sensitive to shifts in global energy policy and commodity price fluctuations.

It’s a volatile stock that provides ample opportunities for short-term trading on both the long and short sides. Traders may find it attractive during periods of geopolitical tension or extreme weather, both of which can cause rapid spikes in coal prices. Its relatively high trading volume ensures that CFD positions can be opened and closed efficiently.

Risks:

• As a pure-play coal company, it’s often a target for divestment by large institutional funds, which can lead to sudden price drops regardless of its financial performance

2. Deep Yellow Limited (ASX: DYL)

Market cap: A$1.96 billion

Deep Yellow is an advanced uranium developer and explorer that’s working to become a multi-mine, global producer. It’s currently focused on two primary tier-one projects: the Tumas Project in Namibia and the Mulga Rock Project in Western Australia.

Notable news from the past half-year includes a strategic update on its Tumas Project, where the company has adopted a staged development approach while engineering and early works continue.

For CFD traders, Deep Yellow is a momentum stock. It’s highly reactive to news regarding the global nuclear energy sector and shifts in the spot price of uranium. Because it’s still in the development phase, its share price is driven largely by speculation and future expectations rather than current earnings. This makes it an ideal candidate for traders looking to profit from news-driven volatility or technical breakouts in the energy sector.

Risks:

• As the company isn’t yet producing revenue, it relies on its ability to raise capital and its projects reaching production on time and on budget. Any delays in permitting or construction can lead to sharp sell-offs

3. Champion Iron Limited (ASX: CIA)

Market cap: A$2.78 billion

Champion Iron is a high-grade iron ore producer that operates the Bloom Lake Mining Complex in Quebec, Canada.

While it’s listed on the ASX, its primary operations are in North America. The company focuses on producing a premium iron ore concentrate that’s in high demand because it allows steelmakers to reduce their carbon emissions and improve efficiency.

It manages its own rail and port logistics, ensuring its high-quality products can reach global markets efficiently.

Over the last six months, Champion Iron has reached several major milestones, most notably the completion of its acquisition of Rana Gruber, a Norwegian iron ore producer. This move provides the company with its first European operating base and diversifies its production.

CFD traders might find Champion Iron an interesting alternative to the Australian-based miners because its price is influenced by different regional factors, such as Canadian logistics and European steel demand.

Risks:

• Operational logistics, specifically the reliance on third-party railway services in Canada. Any derailments or weather-related closures can halt shipments and cause the share price to drop rapidly

How to trade ASX mining shares with IG AU

CFDs

1. Open a CFD trading account with IG AU
2. Search for ASX mining shares on the IG platform
3. Decide whether to go long (buy) or short (sell)
4. Choose your position size
5. Set stop-loss and limit orders
6. Place your trade and monitor it

Share trading

1. Open a share trading account with IG AU
2. Search for ASX mining shares
3. Choose the shares you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment and collect any dividends

FAQs about mining shares

Footnotes
 

1. TradingView, April 2026
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