S&P/ASX 200 Index (ASX: XJO) shares are down 0.67% to 8,627.9 points on Friday.
Among the 11 market sectors, the beaten-up healthcare sector is in the lead today, up 3.1%, while materials is the laggard, down 2.1%.
The materials sector is dominated by ASX 200 mining shares, which are falling on fears of lower iron ore export earnings.
However, the long-term outlook for mining remains positive. Experts say a new commodities super cycle is underway.
However, iron ore is unlikely to outperform in this next mining boom for Australia, given softening demand from China.
Let's take a look at three ASX 200 mining shares with buy ratings from the experts.
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Rio Tinto Ltd (ASX: RIO)
The Rio Tinto share price is $185.50, down 1.4% on Friday and up 33% over the past six months.
Rio Tinto and other ASX 200 iron ore mining shares have experienced heavy two-day falls on news of ramped-up production at Simandou.
Production began six months ago at the African iron ore project, which is the world's largest undeveloped high-grade iron ore deposit.
While the new production is beneficial for Rio Tinto, the extra supply is negatively affecting the global iron ore price.
The commodity slipped below US$102 per tonne today, and has fallen 6.5% this week.
JP Morgan renewed its buy rating on Rio Tinto shares on Tuesday.
The broker lifted its 12-month price target from $203 to $207.
This suggests a potential 12% upside ahead.
PLS Group Ltd (ASX: PLS)
The PLS Group share price is $5.97, down 2.8% on Friday.
Over the past six months, this ASX 200 lithium share has ripped 57%.
RBC Capital renewed its buy rating on PLS Group shares this week.
The broker raised its price target from $5.40 to $7.
This suggests a potential 18% upside ahead.
Formerly known as Pilbara Minerals, the stock hit a record $6.81 on Monday.
Lithium prices are rebounding strongly in 2026. The carbonate price is up 42% year to date and 179% year over year.
Newmont Corporation CDI (ASX: NEM)
The Newmont share price is $149.01, down 1% on Friday.
Over the past month, this ASX 200 gold share has dipped 2.4%.
UBS assigned a buy rating to Newmont shares with a $195 target on Monday.
This suggests a potential 31% upside ahead.
Gold has been on an amazing multi-year run, but growth in the gold price stalled this year.
Find out why the gold price has fallen 17% since the Iran war began.
