If you're looking to diversify your portfolio with a little bit of exposure to the mining sector, then the 2 shares listed below could be worth a closer look.
Here's what you need to know about these ASX 200 mining shares:
Orocobre Limited (ASX: ORE)
The first ASX 200 mining share to consider is Orocobre. It is a dynamic global lithium carbonate supplier and an established producer of boron.
Following its merger with Galaxy Resources, the company has a number of high-quality assets in its portfolio. These include Olaroz, the Cauchari Lithium Project Joint Venture, Mt Cattlin, the Sal de Vida brine project, and the James Bay spodumene project.
Combined, this makes Orocobre a top 5 global lithium mining company. This puts it in a great position to benefit from the increased demand and strong prices for battery-making ingredients.
Citi is a big fan of Orocobre. It currently has a buy rating and an $11 price target on its shares.
South32 Ltd (ASX: S32)
Another ASX 200 mining share to consider is South32. It is a diversified mining and metals company producing bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead, and zinc. It has operations in Australia, Southern Africa, and South America.
The company has also recently announced a key earnings accretive acquisition that gives it exposure to copper through the Sierra Gorda copper mine in Chile.
But the commodity that is getting investors particularly excited right now is aluminium. With the metal believed to be in the early stages of a multi-year bull market, South32 has been tipped to benefit greatly from strong prices in the coming years.
It is for this reason that Goldman Sachs has a conviction buy rating and a $4.40 price target on its shares. Goldman is also forecasting double-digit dividend yields through to at least FY 2026.
