The 5 best ASX 200 mining shares for growth in FY26 all more than doubled in value as Australia's new mining boom continued.
The S&P/ASX 200 Materials Index (ASX: XMJ), dominated by miners, rose 47% and delivered a total return, including dividends, of 52%.
The S&P/ASX 300 Metals & Mining Index (ASX: XMM) rose 53% and produced a total return of 59%.
Experts say there is more growth ahead for ASX mining shares, with 5 key elements underpinning the current commodities supercycle.
Here are two ASX mining shares with buy recommendations from Bell Potter.
The broker believes these two stocks have the potential to more than double in value in the new financial year.
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Minerals 260 Ltd (ASX: MI6)
The Minerals 260 share price is 63 cents, up 4.5% today and up 423% over 12 months.
The gold share was the second-fastest riser of the entire S&P/ASX 200 Index (ASX: XJO) in FY26. (See the top five here.)
Minerals 260 is a mineral explorer that is building the Bullabulling Gold Project in Western Australia.
Bullabulling is one of Australia's largest near-term gold mines.
This week, Minerals 260 released an updated Mineral Resource Estimate (MRE) and the Pre-Feasibility Study (PFS) for Bullabulling.
The MRE increased 38% to 190Mt at 1.0g/t Au for 6.2Moz.
Bell Potter retained its speculative buy recommendation and lifted its 12-month target to $1.40.
This suggests Minerals 260 shares could more than double in FY27.
The broker said:
MI6 offers gold exposure via the 6.2Moz Bullabulling MRE, valuation uplift through discovery success, project advancement and de-risking as the BGP progresses towards production.
MI6 holds ~$250m cash, sufficient to fund to Final Investment Decision (FID) in early CY27, long-lead items and early site works.
WA1 Resources Ltd (ASX: WA1)
The WA1 Resources share price is $12.31, up 2.5% today and down 24% over 12 months.
Bell Potter has a speculative buy rating on this S&P/ASX 300 Index (ASX: XKO) copper share with a $27.20 target.
This suggests WA1 Resources shares could also more than double in the new financial year.
The broker said:
WA1 Resources Ltd (ASX: WA1) has announced scaled-up beneficiation testwork results across four composites representing key Indicated Mineral Resource Estimate (MRE) zones at its 100%-owned Luni Niobium Project (Luni) in Western Australia.
The testwork confirms a two-stage flotation regime can produce high-quality niobium concentrates with commercially relevant recoveries across the deposit, using raw site water.
The testwork is a significant metallurgical data point and materially de-risks the beneficiation stage of the processing flowsheet.
