ASX 200 mining shares enjoyed a strong finish to 2025 after several commodities surged over the year.
The silver price rose by a staggering 147% and reached a record US$83.62 per ounce in December.
Demand for silver increased due to surging industrial usage and the US designating it a critical material.
The gold price increased another 65% in 2025, its greatest annual rise in more than four decades, building on its 27% gain in 2024.
Strong central bank purchasing, lower interest rates, and less confidence in the US dollar as the reserve currency fuelled the rally.
A Goldman Sachs poll conducted in November found that one in three institutional investors expect gold to rise above US$5,000 this year.
Lithium began a long-awaited recovery in July after three years of dramatic declines followed by stagnation.
The lithium carbonate price rose 58% in 2025 amid improving demand for batteries, EVs, and new infrastructure.
Analysts at Trading Economics say the lithium carbonate price is now at a 19-month high.
Copper, which is a key ingredient in electrification, rose 42% as the green energy transition pushed global demand higher.
Commodity price strength led to the materials sector experiencing the strongest capital growth of the 11 market sectors in 2025.
The S&P/ASX 200 Materials Index (ASX: XMJ) rose by 31.71% and produced total returns, including dividends, of 36.21%.
Materials outperformed the benchmark S&P/ASX 200 Index (ASX: XJO) by more than 4:1.
The ASX 200 rose 6.8% and delivered total returns of 10.32%.
Mining stocks dominate the materials sector, so let's check out the top performers of 2025.
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5 best ASX 200 mining shares for capital growth
Pantoro Gold Ltd (ASX: PNR)
This ASX 200 gold share skyrocketed 220% to close out 2025 at $4.89.
Pantoro Gold only joined the benchmark index in the December quarter rebalance.
Its 52-week high in 2025 was $6.61.
Resolute Mining Ltd (ASX: RSG)
Fellow ASX 200 gold share Resolute Mining streaked 206% to finish the year at $1.23.
Its 52-week high was $1.32.
Liontown Ltd (ASX: LTR)
The Liontown share price roared 197% higher to finish the year at $1.58.
The ASX lithium share's 52-week high was $1.75.
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price exploded 196% to close at $7.55 on 31 December.
The ASX 200 gold share's 52-week high was $7.83.
Genesis Minerals Ltd (ASX: GMD)
The Genesis Minerals share price soared 194% to close out the year at $7.25.
Its annual high was $7.63.
