ASX mining shares were the star performers last quarter, with the basket coming clearly out on top.
The S&P/ASX 300 Metal & Mining Index (ASX: XMM) gained 14.7% between December 31 and March 31. The S&P/ASX 200 Materials Index (ASX: XMJ) also rose by 11.9% during the period. In contrast, the broader S&P/ASX 200 Index (ASX: XJO) edged just 0.74% higher.
While some names flourished and kept the sector easily afloat, it wasn't bonanza shareholder returns for everyone involved.
Here are the laggards of the mining sector for the three months of trade to 31 March 2022.
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Underperforming ASX mining shares last quarter
We'll talk in terms of percentage change for the quarter, as the list differs when talking in terms of points and dollars.
Taking out the top spot for ASX mining laggards is Australian Strategic Materials (ASX: ASM), which slid 28.8% for the three months. This was followed closely by Chalice Mining Ltd (ASX: CHN) with a 26.3% loss.
Perenti Global Ltd claimed third spot, falling 19.35%.
Perhaps surprisingly, nickel player Nickel Mines Ltd (ASX: NIC) saw an 11.9% down-step too. Even as nickel prices surged to record heights in the quarter, the company's relationship with a large nickel supplier and trader had the market nervous about the stock.
Not all the laggards were in the red, however. Further down the list are shares such as Alumina Limited (ASX: AWC) with a 7.5% gain. That's not bad, but not great compared to the other winners.
One of the larger ASX mining shares, Pilbara Minerals Ltd (ASX: PLS), finished flat for the quarter.
Below are the top 10 underperforming ASX mining shares for the March quarter in table form.
| Ticker | Company Name | Quarterly return (%) |
| ASM | Australian Strategic Materials | -28.8 |
| CHN | Chalice Mining Ltd | -26.35 |
| PRN | Perenti Global Ltd | -19.35 |
| RSG | Resolute Mining Limited | -15.38 |
| INR | Ioneer Ltd | -13.75 |
| SFR | Sandfire Resources Ltd | -13.68 |
| NIC | Nickel Mines Ltd | -11.89 |
| RMS | Ramelius Resources Limited | -8.28 |
| IMD | Imdex Limited | -8.14 |
