Top ASX mining shares to watch in 2025

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 2025

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 28 October 2025.

1. Perseus Mining Limited (ASX: PRU)

Market cap: A$6.39 billion¹

Perseus Mining operates several gold mines, including the Edikan Gold Mine in Ghana and the Sissingué Gold Mine in Côte d’Ivoire. It’s also developing a new underground operation at the Yaouré Gold Mine, which is expected to start producing gold over the next few years. This new project could significantly boost the company’s overall gold output and strengthen its position in the region.

One of the company’s key strengths is that it doesn’t rely on just one mine. By having multiple operations, it spreads the risk, so problems at one site don’t have as big an impact. The company has also shown it can grow production while keeping costs under control, which is good for profits. So far this year, Perseus has done well thanks to higher gold prices and efficient mining.

Perseus Mining is appealing because it combines steady growth with exposure to gold – a commodity that tends to hold value even when other markets are shaky.

However, no investment is completely safe. Risks include changes in government rules in West Africa or big swings in gold prices.

Highlights:

• Its Nyanzaga Gold Project (NGP) remains on budget and is expected to produce its first gold in 2027 – a good indication of future revenue²
• The share price has increased by 76.06% YTD³

2. Capricorn Metals Limited (ASX: CMM)

Market cap: A$5.59 billion⁴

Capricorn Metals is a gold mining company focused on its main project, the Karlawinda Gold Project in Western Australia. The company has been steadily growing, and its focus on a single, high-potential project has allowed it to concentrate resources and expertise to maximise production and efficiency.

The Karlawinda Gold Project is a modern gold mine and has a large resource base, and Capricorn has been steadily expanding the project and improving mining processes, which helps support consistent growth. This makes it more attractive to share traders looking for long-term potential.

The company has demonstrated its ability to deliver strong results. In recent years, it’s reported solid production figures and maintained cost discipline, which has contributed to healthy earnings. YTD, Capricorn’s share price has shown good growth, reflecting both rising gold prices and share trader confidence in the company’s operations.

Highlights:

• The company’s focus on one major project does seem risky, but the project’s size and quality help mitigate that risk
• In its FY25 annual report, it indicated a record underlying revenue of A$528.2 million for the year⁵
• Capricorn’s share price value grew by 91.46% YTD⁶

3. Northern Star Resources Limited (ASX: NST)

Market cap: A$34.42 billion⁷

Northern Star Resources is one of Australia’s leading gold mining companies, with operations in Western Australia and Alaska. The company is known for combining solid mining practices with careful expansion, which has helped it deliver consistent results to investors.

Its mines are considered high-quality assets because they consistently produce gold at relatively low costs. Northern Star also invests in exploration, meaning it looks for new opportunities to expand its mining operations and increase future production.

The company’s track record has made it a reliable option for share traders. Over the past few years, the company has grown production steadily, maintained strong operational performance and kept costs under control. YTD, the company’s share price has seen solid growth, reflecting both higher gold prices and confidence in its long-term operations.

Highlights:

• It paid a final FY25 dividend of A$0.30 per share in September 2025⁸
• Its share price has increased by 51.43% YTD⁹

Top 3 ASX mining shares for CFD traders to watch in 2025

We selected these three shares based on their recent share price volatility and strong connection to fast-moving commodities like copper, rare earths and lithium – good foundations for the volatility that CFD traders look for.

Overview of the shares in this section

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

All figures are accurate as of 28 October 2025.

1. Petratherm Limited (ASX: PTR)

Market cap: A$98.79 million¹⁰

Petratherm Limited focuses on exploring and developing copper and other critical minerals in South Australia. The company’s projects are mainly located in the Olympic Copper-Gold Province, an area known for high-quality mineral deposits.

Unlike larger gold producers, Petratherm is still in the development and exploration stage, which makes it more suitable for traders looking for price movements rather than long-term share traders seeking a steady income.

A few months ago, the company made headlines when its share price jumped significantly due to promising exploration results at its Rosewood deposit, which contains copper and titanium. These kinds of discoveries can cause large swings in the share price, making it appealing to CFD traders.

Petratherm’s share price is highly sensitive to news, such as resource updates, drilling results and announcements about project funding, creating opportunities for traders to potentially profit from short-term moves.

Highlights:

• Its an early-stage company, and hasn’t recorded any revenue over the past year.¹¹ This opens it up for volatile conditions that CFD traders look for
• The share price has lost 12.70% value YTD¹²

2. Astron Limited (ASX: ATR)

Market cap: A$341.29 million¹³

Astron concentrates on exploring and developing mineral sands projects, with a particular emphasis on rare earth elements. Rare earth minerals are used in modern technologies like EVs, wind turbines and electronics, which makes Astron an interesting company for traders who follow market trends in critical minerals.

The company’s key project is the Goschen Project in Victoria. Unlike established gold producers, Astron is still in the development stage, which means its share price can swing significantly in response to news about exploration results, project updates or commodity price changes.

Astron has recently attracted attention due to increases in its share price over short periods, reflecting market reactions to its project milestones and positive share trader sentiment. These sharp price movements create the kind of volatility that short-term traders can take advantage of.

Highlights:

• Its flagship project, Donald, is thought to be one of the most significant rare earth resources outside China¹⁴
• The same project recently received government support, having achieved major-project status¹⁵
• 15.97% – this is how much the share price has increased YTD¹⁶

3. Pilbara Minerals Limited (ASX: PLS)

Market cap: A$10.56 billion¹⁷

Pilbara Minerals is one of Australia’s leading lithium producers and a major name in the global battery materials industry. The company owns 100% of the Pilgangoora Lithium-Tantalum Project in Western Australia – one of the largest independent hard-rock lithium operations in the world.

Lithium is a crucial component in batteries used for EVs, renewable energy storage and everyday electronics, which puts Pilbara Minerals at the centre of the clean energy transition.

The company produces and exports lithium concentrate around the world, particularly in Asia. Demand for lithium has surged in recent years, but prices have also been extremely volatile as global supply and demand have shifted. This volatility has flowed through to Pilbara Minerals’ share price, making it a popular stock for short-term traders.

Highlights:

• In its quarterly report ended September 2025, revenue increased by 30% compared to the previous quarter¹⁸
• Its balance sheet indicates it holds A$852 million cash balance with A$625 million in undrawn credit facility¹⁹
• The share price has soared 40% in value YTD²⁰

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 AI shares

Footnotes
 

1. TradingView, October 2025
2. Perseus Mining, October 2025
3. TradingView, October 2025
4. TradingView, October 2025
5. Capricorn, October 2025
6. TradingView, October 2025
7. TradingView, October 2025
8. Northern Star, September 2025
9. TradingView, October 2025
10. TradingView, October 2025
11. Simply Wall St, October 2025
12. TradingView, October 2025
13. TradingView, October 2025
14. Investing News, October 2025
15. Investing News, October 2025
16. TradingView, October 2025
17. TradingView, October 2025
18. Pilbara, September 2025
19. Pilbara, September 2025
20. TradingView, October 2025