3 ASX mining shares rocketing higher on big news

These ASX mining shares have leapt as much as 30% on Wednesday.

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Three mining workers stand proudly in front of a mine smiling because the BHP share price is rising

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Wednesday is proving to be a good day to be invested in these three ASX mining shares as they rocket higher on the back of exciting news. In fact, one posted a gain of 30% at its intraday high.

So, which ASX miners have surprised the market today? Let's take a look.

3 ASX mining shares soaring on exciting announcements

Wednesday has brought a modest gain for the broader market. The S&P/ASX 200 Index (ASX: XJO) is up 0.35% right now while the All Ordinaries Index (ASX: XAO) has lifted 0.27%.

But the GME Resources Limited (ASX: GME) share price's performance has been anything other than modest. The stock is surging 26% right now to trade at 14.5 cents. And earlier today it hit a 52-week high of 15 cents, representing a 30% gain.

It follows a three-session trading halt within which the company announced an offtake agreement with Stellantis. The European automaker signed a non-binding memorandum of understanding for the future sale of battery grade nickel and cobalt products from the ASX miner's NiWest Project.

GME Resources also launched a successful $4 million capital raise to help fund the project's definitive feasibility study. The placement saw 42.1 million shares offered for 9.5 cents apiece.

Speaking of battery-grade nickel and cobalt offtake agreements, that's exactly what's driving the Queensland Pacific Metals Ltd (ASX: QPM) share price today. The ASX mining share is rocketing 17% right now to trade at 17.5 cents.

Queensland Pacific Metals announced a collaboration that will see General Motors Company (NYSE: GM) spending up to $108 million on an equity stake in the ASX-listed company.

Additionally, an offtake agreement will see General Motors purchasing any uncommitted nickel and cobalt from the TECH Project. The materials will be used to build electric vehicle batteries.

The final ASX mining share posting an eyepopping gain on Wednesday is Azure Minerals Ltd (ASX: AZS). It's up 5% at 22 cents right now.

The company revealed its latest lithium find this morning, with "abundant" targets discovered at the Andover Project.

The visible spodumene identified at multiple locations has been confirmed to house grades of up to 1.62% lithium oxide.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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