There are some great value ASX 200 resources shares to buy right now. The S&P/ASX 200 Index (ASX: XJO) is down 12.94% in 2020 but the Aussie resources sector has so far underperformed the benchmark index.
It takes a savvy investor to sniff out value in such a complicated industry. For instance, you have to work out if ASX gold shares are better than iron ore shares.
While the Alumina Limited (ASX: AWC) share price is down 33.91% this year, others like Newcrest Mining Limited (ASX: NCM) have climbed higher.
So, where are the best value Aussie mining shares right now?
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3 ASX 200 resources shares to buy today
Speaking of Newcrest, I think it could be in the buy zone. The Aussie gold miner's shares are up 4.11% this year and could be climbing higher.
Investors are certainly bullish on the ASX 200 resources share. I'm not a big gold investor myself but Newcrest is certainly outperforming. If global gold prices remain high, the Newcrest share price could be one to watch.
But it's not the only ASX gold miner that's potentially in the buy zone right now. I think St Barbara Ltd (ASX: SBM) is worth watching this year. The Aussie gold miner's shares have surged 17.75% in 2020 thanks to high commodity prices.
I also think some of the large ASX miners could be undervalued.
BHP Group Ltd (ASX: BHP) is one that I've got my eye on. BHP shares have been making a steady recovery in recent weeks but are still down by 8.79% in 2020.
If we see iron ore prices continue to climb, BHP could be a bargain at $35.71 per share. The Aussie miner is far from a safe bet, but it does boast a $169.1 billion market capitalisation.
Foolish takeaway
There are a number of ASX 200 resources shares that could be undervalued in 2020. I think buying into the sector is a speculative play, but could be a valuable addition to a well-diversified portfolio.
