So far, this year has been rough for many of the market's favourite ASX mining shares. But looking to the longer term, the materials sector has been a strong performer.
Despite posting a 7% year-to-date fall, the S&P/ASX 200 Materials Index (ASX: XMJ) has gained around 50% over the last 10 years. Meanwhile, some ASX mining shares have posted gains that dwarf the index's performance.
Indeed, an investor who bought these three ASX mining shares in October 2012 would be laughing all the way to the bank today.
Keep reading to discover which ASX mining shares have turned $10,000 into more than $500,000 over the last decade.
3 ASX mining shares that turned $10,000 into $500,000
If you ever needed a reminder of the power of investing, you've come to the right place.
| ASX mining company | Gains over the last decade | Recent value of $3,333 invested |
| Chalice Mining Ltd (ASX: CHN) | 2,606% | $85,482 |
| AVZ Minerals Ltd (ASX: AVZ) | 7,700% | $259,974 |
| Liontown Resources Ltd (ASX: LTR) | 4,550% | $154,984 |
It's been a good 10 years for these ASX mining shares – and anyone who invested in them in 2012.
A $10,000 investment spread across the three stocks back then would have been worth $500,440 at Friday's close.
The biggest gains of the last decade came from AVZ Minerals. Interestingly, the company hasn't traded since May amid an ownership dispute over the Manono Lithium Project.
However, before the stock was frozen it was trading at 78 cents – up from around 1 cent this time 10 years ago. Back then the company was known as Avonlea Minerals. It was renamed AVZ Minerals in December 2012.
The Liontown share price was the next best performer. Stock in the lithium favourite lifted from 4 cents in October 2012 to $1.86 as of Friday afternoon.
Finally, the Chalice Mining share price has lifted from around 17 cents this time last decade to its previous close of $4.36.
The key takeaway
While volatility has reigned supreme this year, there are likely plenty of winners still to be found among ASX mining shares.
Indeed, the ASX has ultimately gained over the years, despite plenty of short-lived downturns such as that experienced in 2022.
