Highlights

  • ASX mining shares recorded fresh 52-week highs amid evolving global commodity demand patterns.
  • Energy transition and supply chain policies continued influencing industrial and critical mineral markets.
  • Recent updates from BHP, Fortescue and Sandfire aligned with heightened market activity.

ASX mining shares hit 52-week highs, as the S&P/ASX 300 Metals & Mining Index climbed 1.01% to 7,875.6. Movements across bulk commodities, base metals, and critical minerals reflected changes in demand driven by energy transition requirements, supply chain adjustments, and macroeconomic conditions.

Gold and silver remained supported by central bank purchases, lower US interest rate expectations, and changes in US dollar confidence. Copper, silver, and lithium continued to see demand due to their use in renewable energy infrastructure, data centres, and electric vehicles. Lithium prices increased as previous oversupply eased. In October 2025, China’s EV sales exceeded internal combustion vehicle sales, showing a shift toward electric transportation and ongoing demand for energy transition metals.

BHP Approaches 52-Week High Following Infrastructure Agreement
BHP Group Ltd (ASX:BHP) shares rose 2.98% to AUD 49.56, approaching a 52-week high of AUD 49.75. The stock has climbed 11.94% over the past month and 25.81% over the last six months.

In December 2025, BHP announced a binding USD 2 billion infrastructure agreement with Global Infrastructure Partners (GIP), part of BlackRock. The arrangement relates to inland power infrastructure supporting Western Australia Iron Ore (WAIO) operations in the Pilbara. A new trust structure will be established, with BHP retaining a 51% interest and GIP holding 49%. BHP will continue to control operations while paying a usage-based tariff over a 25-year period. Completion is expected toward the end of FY2026, subject to regulatory approvals.

Fortescue Trades Near Peak Levels After Copper Acquisition Update
Fortescue Ltd (ASX:FMG) shares traded at AUD 22.80, up 0.64% on the day and near a 52-week high of AUD 23.38. The stock has risen 35.85% over the past six months.

In December 2025, Fortescue entered a binding agreement to acquire the remaining 64% stake in Alta Copper Corp via a Canadian Plan of Arrangement. Alta shareholders are set to receive CAD 1.40 per share in cash, valuing the company at approximately CAD 139 million. Alta owns the Cañariaco Copper Project in Peru, which hosts large-scale copper resources. The transaction is expected to close in the March quarter of 2026, subject to approvals.

Sandfire Nears 52-Week High Ahead of Quarterly Report

Sandfire Resources Ltd (ASX:SFR) shares ended the day at AUD 19.38, rising 1.63% and nearing a 52-week peak of AUD 19.61. The stock recorded a 75.54% gain over the past six months.

Sandfire provided a preliminary update for FY26, maintaining its Group Copper Equivalent production forecast midpoint at 157 kt. The company adjusted its anticipated production distribution to 46% in H1 and 54% in H2. As of 31 December 2025, Sandfire reported an unaudited net cash balance of USD 13 million.