3 ASX Mining Stocks Back in Focus as Tech Sells Off

Following are the top three mining ASX stocks which are in focus as tech sells off, supported by solid business fundamentals and impressive recent results.

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Rio Tinto Limited (ASX: RIO) is one of the leading mining-based ASX stocks which is currently trading at a market capitalisation of $55.65 billion and has a current annual fully franked dividend yield of 4.43%.

RIO had announced on 23 October 2026 that it will invest $1.9 billion to develop the Kangwinan bauxite project on the Western Cape York Peninsula in Queensland. It will add 20 million tonnes of annual bauxite production capacity in Weipa and replace production from the Andoom mine, which is reaching the end of its life by the end of this decade.

RIO had also announced on 14 October 2026 its third-quarter 2026 production update. Total copper production stood at 205kt for Q3 2026 and 646kt for 9M 2026. Global iron ore sales reached 90.8Mt, up 3% year on year. It has incurred pre-tax and pre-divestment expenditure on exploration and evaluation of $692 million compared with $537 million in 2025.

 Fortescue Limited (ASX: FMG) is one of the top mining-based ASX stocks which is currently trading at a market capitalisation of $44.92 billion and has a current annual fully franked dividend yield of 3.15%.

FMG had announced the September 2026 quarterly production report on 22 October 2026. Total iron ore shipments reached 46.8 million tonnes in Q1 FY27, including 2.5 million tonnes from Iron Bridge. It has iron ore sales of 42.9 million tonnes, affected by ongoing negotiations with China Mineral Resources Group (CMRG).

Fortescue has reported a Hematite C1 unit cost of US$21.98 per wet metric tonne (wmt) in Q1 FY27. Higher diesel prices have increased C1 unit costs by approximately US$1.40 per wmt compared to Q1 FY26.

It has incurred exploration and studies capital expenditure of US$106 million in Q1 FY27. FMG reported capital expenditure and investments of US$916 million. The cash balance reached US$3.2 billion.

Fortescue Limited is expected to do an iron ore shipment of 197-207 million tonnes, including 11-14 million tonnes for the iron bridge for FY27. It has guided metals capital expenditure of US$3.7-US$4.7 billion, energy capital expenditure of US$150 million and net operating expenditure of ~US$300 million for FY27.

Sandfire Resources Limited (ASX: SFR) is one of the promising copper based ASX stocks, which is currently trading at a market capitalisation of $9.48 billion.

SFR had announced on 27 October 2026 its September 2026 quarterly report. Group copper equivalent production is up 9% year on year to 38.9kt. Silver production increased by 32% year on year to 1.5 million ounces.

Motheo’s copper equivalent production increased by 16% year on year to 16.1kt and MATSA copper equivalent production grew by 5% year on year from 21.7kt in Q1 FY26 to 22.7kt in Q1 FY27.

SFR has reported a group sales revenue of US$480 million and an underlying EBITDA of US$272 million in Q1 FY27. It has returned US$117 million to shareholders through the payment of a fully franked dividend and has an unaudited net cash balance of US$342 million.

(Source: Company Announcements)