If you're looking for some exposure to the mining sector for your portfolio, then one ASX 200 mining share to buy could be Chalice Mining Ltd (ASX: CHN).
That's the view of analysts at Bell Potter, which are very bullish on the mineral exploration company.
Why is this an ASX 200 mining share to buy?
Bell Potter is very positive on Chalice Mining due to its Julimar project in Western Australia and the globally significant PGE-NiCu deposit found within. This gives the miner exposure to highly sought critical minerals in one of the world's top mining jurisdictions. The broker commented:
CHN's 100%-owned Julimar project is a globally significant PGE-NiCu deposit. Located 70km north of Perth in WA, it represents a unique opportunity to establish new strategic PGE and base metals supply in a top mining jurisdiction.
Bell Potter also highlights that Chalice Mining's minerals feature on the United States' critical minerals lists. It added:
This is reinforced by the inclusion of PGE's nickel and cobalt on Australia's and the USA's critical minerals lists, due to their role in the lithium-ion battery and hydrogen fuel cell production value chain and Russia's market dominance. Exploration and project development updates in 2022 have reinforced the upside at the Gonneville deposit, and the Julimar project.
Major upside potential
According to the note, the broker has a speculative buy rating and $11.73 price target on the ASX 200 mining company's shares.
Based on the current Chalice Mining share price of $6.19, this implies potential upside of almost 90% for investors over the next 12 months.
However, with a speculative rating in the mining sector, this is likely to be an investment option that is only suitable for investors with a high tolerance for risk.
