What a year it was for the S&P/ASX All Ordinaries Index (ASX: XAO). Talk about a whipsaw.
The ASX All Ords was going so well for the first half of FY22. It rose from 7,585 points at the close on 30 June 2021 to 7,926.8 points at the closing bell on the first day of trading for 2022 on 4 January.
That's a pretty encouraging 4.5% rise over a six-month period. Then, the turnaround. The ASX All Ords went down from there, falling to 6,746.5 points at the close on 30 June 2022.
So, the benchmark index finished FY22 in the red. Down 11.05%. Eek. But it was a vastly different story for these ASX mining shares.
These ASX mining shares had a rip-roaring year
The ASX All Ords covers the 500 biggest companies on the ASX by market capitalisation. Mining shares, as part of the basic materials segment, make up about 22.5% of the All Ords index.
Here are the five best-performing ASX All Ords mining shares in FY22, according to Capital IQ figures:
- Core Lithium Ltd (ASX: CXO) up 306.4%
- Argosy Minerals Limited (ASX: AGY) up 260%
- Yancoal Australia Ltd (ASX: YAL) up 172.4%
- Whitehaven Coal Ltd (ASX: WHC) up 148.2%
- Tigers Realm Coal Ltd (ASX: TIG) up 137.5%.
Why these miners soared in FY22
Of course, these five ASX mining companies had their own milestones in FY22 that helped push their share prices higher.
But they all had one thing in common.
The commodities boom pushed up the value of the stuff they dig out of the ground and sell.
According to Trading Economics commodities data, lithium carbonate has had a year on year gain of 434%. Yep, crazy good. And that obviously benefitted Core Lithium and Argosy Minerals.
The coal price also went up big time. By 182% to be exact. It ain't lithium-level growth, but it's still impressive. Of course, Yancoal, Whitehaven, and Tigers Realm were beneficiaries.
Both commodities are trading at historically high levels, providing an ongoing boon for these ASX mining shares.
Today, the lithium carbonate price is A$104,026 per tonne. The coal price is A$585 per tonne.
