One of the hottest trends on the ASX at the moment is mining companies. Thanks to rocketing commodity prices, ranging from copper and gold to nickel and silver, ASX mining shares are enjoying a notable resurgence in early 2026.
Commodity prices are notoriously fickle, making it hard to predict what the shares of companies that extract and process them will do next. But if commodity markets keep up their recent momentum, here are two ASX shares that I think could keep riding the boom.
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2 ASX mining shares that could keep riding the commodities boom
South32 Ltd (ASX: S32)
South32 is one of the largest and most diversified miners on the ASX. This company was created out of a BHP Group Ltd (ASX: BHP) spin-off over a decade ago. Today, it has extensive global operations spanning aluminium, copper, lead, silver, zinc, and manganese.
Many of these metals have been soaring in value in recent months. That's probably why the South32 share price has exploded from $2.50 a share in September to $4.38 today (at the time of writing). Yep, this ASX share is up more than 70% in just four months.
Given this company's diversified nature and exposure to future-facing metals like copper and silver, I think it is poised to continue to benefit from any further gains in global commodity prices.
Newmont Corporation (ASX: NEM)
Newmont is the ASX's largest gold miner. It is a US-based company, with its shares being present on the ASX thanks to its acquisition of the old Newcrest Mining a few years ago. Today, Newmont is one of the largest gold miners in the world. It has benefited spectacularly from the new record highs that gold has been minting in recent months.
12 months ago, Newmont was asking just $66.44 a share. Today, those same shares will set an investor back $179.05, having jumped a whopping 170% over the past year.
Conditions for gold remain favourable, given ongoing geopolitical and economic uncertainties on the world stage, as well as an insatiable appetite for the precious metal among central banks.
But Newmont isn't just a gold stock. Gold mining often yields significant levels of byproduct, particularly silver and copper. Newmont happily sells these byproducts alongside its gold yields. Both of these metals have also shot to the moon in recent months. If these trends continue, I wouldn't be surprised to see Newmont shares climb even higher going forward.
