On Thursday, 33 ASX shares hit 52-week highs and 22 of them were mining shares, including the major iron ore producers.
The BHP Group Ltd (ASX: BHP) share price rose 2.1% to a 52-week high of $45.49 per share.
The Fortescue Ltd (ASX: FMG) share price lifted 3.2% to a 52-week peak of $23.38.
The Rio Tinto Ltd (ASX: RIO) share price increased 2.6% to a 52-week high of $141.13.
Several ASX gold shares also ascended to new highs.
The Evolution Mining Ltd (ASX: EVN) share price rose 4% to an all-time high of $12.63 per share.
Emerald Resources NL (ASX: EMR) shares reached a record $5.71, up 2.9%.
Bellevue Gold Ltd (ASX: BGL) shares lifted 4.3% to a 52-week high of $1.47.
ASX silver share Andean Silver (ASX: ASL) lifted 6.8% to an all-time peak of $2.34.
Some ASX lithium shares also recorded new one-year highs today.
They included Elvira Lithium (ASX: ELV) shares, up 2.9% to $6.67, and Lake Resources NL (ASX: LKE), up 19% to 9.4 cents.
ASX copper share Hot Chili Ltd (ASX: HCH) rose 7.8% to a 52-week high of $1.25.
The S&P/ASX All Ordinaries Index (ASX: XAO) closed 0.1% higher at 8,877.5 points on Thursday.
Image source: Getty Images
What's pushing ASX mining shares higher?
Stronger commodity prices are contributing to a surge in mining stocks this month.
Here is a snapshot of the strongest performers.
| Metal or mineral | Commodity price rise past month | Commodity price rise in 2025 |
| Cobalt | 7.5% | 115% |
| Silver | 17.5% | 117% |
| Platinum | 3.5% | 87% |
| Palladium | 0.1% | 67% |
| Gold | 1% | 62% |
| Neodymium | 3.5% | 45% |
| Tin | 10.5% | 37% |
| Copper | 5.5% | 34% |
| Lithium | 12.5% | 23.5% |
| Aluminium | (0.2%) | 12.5% |
| Iron Ore | 3% | 3% |
Macquarie's take on ASX mining shares
Earlier this week, Macquarie released a note on commodities and named its preferred ASX mining shares.
Among the diversified major miners, the broker likes Rio Tinto over BHP, but prefers South32 Ltd (ASX: S32) overall.
The broker has an outperform rating on South32 shares with a 12-month price target of $3.70.
Macquarie has a neutral rating on Rio Tinto and BHP shares with price targets of $130 and $43, respectively.
The broker has an underperform rating on Fortescue shares with a price target of $19.50.
Among the gold miners, Macquarie prefers Newmont Corporation CDI (ASX: NEM) over Northern Star Resources Ltd (ASX: NST).
However, the broker has an outperform rating on both ASX gold shares with price targets of $175 and $34, respectively.
Among ASX lithium shares, the broker prefers lithium and nickel producer IGO Ltd (ASX: IGO).
The broker has an outperform rating on IGO shares with a 12-month price target of $7.50.
It also has an outperform rating on Elvira Lithium with a price target of $7.
The broker is neutral on the largest ASX lithium share, PLS Group Ltd (ASX: PLS), with a price target of $3.80.
Capstone Copper Corp CDI (ASX: CSC) is the broker's preferred ASX copper share.
Macquarie has an outperform rating on Capstone Copper with a share price target of $17.
