ASX mining shares are lower on Thursday, with the S&P/ASX 300 Metal & Mining Index (ASX: XMM) down 0.7%.
The ASX 300 mining Index is 22% higher in the calendar year to date (YTD). This follows last year's spectacular 38% growth.
A new commodities super cycle is underway, with lithium and copper among the best performers in 2026.
By comparison, the S&P/ASX 300 Index (ASX: XJO) is up 2% this year and rose 7% last calendar year.
Major diversified miners, including Rio Tinto Ltd (ASX: RIO), have reset their historical highs this year amid rising commodity prices.
The Rio Tinto share price hit a new record of $195.84 on 3 June.
Copper miner Sandfire Resources Ltd (ASX: SFR) hit a record $21.75 on 30 January.
The ASX copper mining share then retreated for a period before returning to near-record highs this month.
Yesterday, Sandfire Resources shares traded at an intraday high of $21.64.
Despite the new mining boom now underway, experts don't have buy ratings on ASX mining shares across the board.
On The Bull this week, Warwick Grigor from Far East Capital names two mining stocks to sell.
But in both cases, the sell recommendation is for the best reason possible: to take enormous profits.
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Southern Cross Gold Consolidated (ASX: SX2)
The Southern Cross Gold share price is $4.51, down 2.6% today but up a whopping 82% YTD.
Grigor has a sell rating on this ASX gold mining share.
He explains:
The gold company operates three exploration projects. Two projects are in Victoria and one is in Queensland.
The company has reported high grade assays, most recently from the Sunday Creek Gold-Antimony project in Victoria where it drilled seven holes.
Any JORC mineral resource estimate in the future needs to meet investor expectations, or the share price may be punished.
The shares rose from $5.37 on August 1, 2025 to $12.04 on March 2, 2026. The shares were trading at $8.75 on June 11.
Investors may want to consider taking a profit.
Almonty Industries CDI (ASX: AII)
The Almonty Industries share price is $26.42, up 1.1% today and doubling in value YTD.
Grigor recommends selling this ASX tungsten mining share.
Almonty supplies conflict free tungsten, a strategic metal critical to the defence and advanced technology sectors.
The company is continuing to ramp up its tungsten mining operations in South Korea.
The company has ridden the tungsten boom and benefited from soaring tungsten prices.
However, the share price rise is losing momentum. It now has to deliver on some aggressive earnings estimates to justify its rating.
The shares have fallen from $32.51 on April 21 to trade at $22.18 on June 11. It may be time to cash in some gains.
