S&P/ASX 200 Materials Index (ASX: XMJ) shares — dominated by Australian miners — are 10% higher in 2026.
This compares to a 1.6% decline for the benchmark S&P/ASX 200 Index (ASX: XJO) in the calendar year to date (YTD).
The ASX 200 materials sector rose by 32% last year, largely due to soaring share prices for mining companies.
This year, ASX mining shares have fluctuated due to a metals sell-off in late January and today's continuing global oil shock.
The long-term picture is that Australia is in the midst of a new mining boom powered by a new commodities super cycle.
If you're looking for investment opportunities, here are 2 ASX mining shares recommended by experts this week.
Image source: Getty Images
Maronan Metals Ltd (ASX: MMA)
The Maronan Metals share price is 37 cents, up 2.8% today and down 15% YTD.
The company is developing the Maronan silver-lead and copper-gold deposit in the Cloncurry region of northwest Queensland.
The mine is one of Australia's largest undeveloped silver-lead-copper and gold deposits.
On The Bull this week, Tony Locantro from Alto Capital has a speculative buy rating on this ASX mining share.
Locantro explains:
The company recently secured about $22 million in strategic funding, strengthening its balance sheet and supporting an expanded drilling program. A second drill rig has now been deployed to accelerate resource growth and improve confidence in the starter zone.
The recent separation from Red Metal Ltd (ASX: RDM) has also simplified the investment case and increased market visibility.
While development stage projects carry funding and execution risk, the combination of a high quality resource, strong financial backing and upcoming catalysts support a speculative buy recommendation.
Deterra Royalties Ltd (ASX: DRR)
The Deterra Royalties share price is $4.35, down 0.1% today and up 5.2% YTD.
Deterra has a portfolio of 14 royalties and royalty-like offtake assets in 7 countries.
It is invested in iron ore, lithium, mineral sands, copper, molybdenum, and gold.
Mining royalties are agreements in which a third party provides financing to a miner in exchange for a portion of future revenues or production.
One of Deterra's royalty assets is Mining Area C (MAC) in the Pilbara, owned by BHP Group Ltd (ASX: BHP).
Investing in Deterra Royalties is an alternative to directly buying ASX mining shares.
Damien Nguyen from Morgans recommends buying Deterra Royalties shares.
Here's why:
DRR's royalty structure provides highly leveraged, low cost exposure to iron ore volumes with no operational risk, capital expenditure, or direct commodity price hedging.
As production ramps up further at Mining Area C (MAC) and BHP Group continues to invest in expanding capacity, Deterra's royalty stream is set to grow over the medium term.
The balance sheet is conservatively managed, and the company has a strong track record of returning capital to shareholders through fully franked dividends.
The market appears to be discounting near term iron ore price softness more heavily than the long term volume growth story warrants.
We see the recent share price as an attractive entry point.
