It's a banner day for Rio Tinto Ltd (ASX: RIO), Evolution Mining Ltd (ASX: EVN), and BHP Group Ltd (ASX: BHP) shares today.
That's because all three of the S&P/ASX 200 Index (ASX: XJO) mining giants just charged to new 52-week plus highs.
Here's what's happening.
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Rio Tinto and BHP shares riding the copper wave
Rio Tinto shares are up 1.8% in late morning trade on Friday, changing hands for $142.53 apiece.
That's not just a new 52-week high for the ASX 200 mining stock, but it represents a new all-time high as well (if held to close).
Rio Tinto shares have gained 14.8% over the past year. Atop those capital gains, Rio Tinto stock also trades on a fully franked 4.2% trailing dividend yield.
BHP shares are also enjoying a strong run, up 1.8% today and trading for $45.94 each. That's its highest level since February 2024.
Shares in Australia's biggest miner are now up 9.7% since this time last year. BHP stock also trades on a fully franked 3.7% trailing dividend yield.
Atop their own operational successes, Rio Tinto and BHP shares have both been benefiting from rocketing copper prices and a resilient iron ore price.
On the iron ore front, last year this time, the majority of analysts had been forecasting that the industrial metal would be trading well below US$100 per tonne, with some expecting it to slump to US$80 per tonne.
Instead, iron ore, the top revenue earner for both BHP and Rio Tinto, has rebounded from US$93 per tonne in early July to a peak of over US$107 per tonne in early December. Iron ore is currently fetching US$102 per tonne.
It's an even better story on the copper front.
The red metal represents the second biggest (and growing) revenue earner for both BHP and Rio Tinto. And copper prices have been going ballistic.
Up 2.7% over the past 24 hours at US$11,872 per tonne, the copper price is now up more than 35% in 2025.
Which brings us to…
ASX 200 gold stocks shining bright
Evolution Mining shares join Rio Tinto and BHP shares in smashing new 52-week-plus highs today.
Shares in the ASX 200 gold stock are up 4% at the time of writing, trading for $12.74 each.
As with Rio Tinto, this also marks a new record high for Evolution Mining shares. Amid a historic run higher in the gold price (at US$4,275 per ounce, the gold price is up 63% in 2025), and its own mining successes, the Evolution Mining share price is now up an eye-popping 143.5% since this time last year.
Atop those very sizeable gains, the gold miner also trades on a 1.6% fully franked trailing dividend yield.
