3 ASX 200 mining shares that surged more than 5% today

What sent these resources shares higher today? We take a look.

| More on:
Three satisfied Whitehaven coal miners with their arms crossed looking at the camera proudly

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Three ASX mining shares surged by more than 5% today 
  • Two of these shares were lithium shares. Many lithium shares were in the green today 
  • The ASX 200 Resources Index also leapt 1.49% today 

The S&P/ASX 200 Resources Index (ASX: XJR) finished in the green today, but three ASX 200 mining shares soared higher than the index.

The ASX 200 Resources Index climbed 1.49% to 5,796.2 points. For comparison, the S&P/ASX 200 Index (ASX: XJO) also jumped 0.82% today.

Let’s take a look at which ASX 200 mining shares had a stellar day.

Pilbara Minerals (ASX: PLS)

The Pilbara Minerals share price surged 7.6% today. The company is one of many ASX lithium shares to enjoy a day in the green.

As my Foolish colleague James reported, this market sentiment appeared to be driven by a strong result from lithium giant Livent Corp (NSYE: LTHM) in the United States. Livent shares exploded 30% after the company performed ahead of market expectations. CEO Paul Graves spoke highly of the global lithium market. He commented: “Strong lithium demand has continued in 2022.”

Pilbara’s share price has surged 141% in a year but is down 11.5% this year to date. The company recently reported lithium prices jumped to record highs in the quarter ended March.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price rocketed 8.75% today. The company’s share price has risen 121% year to date and 392% over the past 12 months.

Core Lithium shares leapt today amid a strong day for ASX lithium shares. Other ASX lithium shares to rise include Allkem Ltd (ASX: AKE), up 4.79%,  Lake Resources N.L. (ASX: LKE), up 5.69%, and Liontown Resources Limited (ASX: LTR), up 7.72%.

Core Lithium has recently received environmental approval for the BP33 underground mine in the Northern Territory.

Chalice Mining Ltd (ASX: CHN)

Chalice Mining shares leapt 5.43% today. Chalice is exploring the Jumilar nickel, copper, and platinum group elements (PGE) project in the Avon region of Western Australia.

Copper prices are up 1.76% to US$4.4045 a pound, Trading Economics data shows. However, nickel prices have fallen 1.18%.

Chalice presented at the Macquarie 2022 Australia conference on Wednesday. The company noted Jumilar has the potential to be a “globally significant” source of class 1 nickel. Chalice said: “Julimar’s proximity to WA’s world-class power grid and infrastructure make it uniquely positioned to deliver low carbon intensity metals.”

The Chalice Mining share price has gained 5% over the past 12 months but is down 25% so far this year.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Resources Shares

A miner holds two hands full of coal, indicating share price movement for coal and energy companies
Resources Shares

Own Soul Patts shares? Here’s how much of its portfolio is exposed to coal

Is Soul Patts heavily invested in coal shares?

Read more »

Gold bars and Australian dollar notes.
Resources Shares

Do Evolution Mining shares pay a dividend?

The ASX 200 mining shares are known as good dividend payers -- is Evolution among them?

Read more »

A woman frowns and crosses her arms.
Resources Shares

What’s dragging on the Fortescue share price today?

Fortescue's shares have dropped into the red today...

Read more »

A mining worker wearing a white hardhat stands on a platform overlooking a huge mine as ASX 200 mining shares fall over the month of June
Resources Shares

How have ASX 200 mining shares fared over June?

We examine the share price performance of BHP, Rio Tinto, Fortescue, and South32.

Read more »

Two men sit in garden on chairs facing each other and fist bump while holding a beer.
Resources Shares

Own Rio Tinto shares? Here’s how the company is ‘canning’ carbon emissions

Let's have a CANdid look at what Rio is up to.

Read more »

Oil miner holding a laptop and mobile phone looks at his phone and sees the falling oil price and falling Woodside share price
Broker Notes

Can the Beach Energy share price hit $1.95?

Buoyant energy markets are continuing to bolster the case...

Read more »

A man wearing a blue jumper and a hat looks at his laptop with a distressed and fearful look on his face as he reads about the Core Lithium share price falling 30% in a month
Resources Shares

Down 30% in a month, what’s been driving the Core Lithium share price lower?

It's been a rollercoaster ride for Core Lithium shareholders in June.

Read more »

A group of people in suits and hard hats celebrate the rising share price with champagne.
Broker Notes

Goldman Sachs says Iluka shares are a strong buy with 40% upside

This resources share could be a strong buy according to Goldman Sachs...

Read more »