Top 3 ASX Mining Stocks to Watch Out in 2026

The following three ASX mining stocks stand out in 2026 because of their operational momentum and strategic growth projects which are poised to create shareholder value.

Lynas Rare Earths Limited (ASX: LYC)

Lynas Rare Earths Limited (ASX: LYC) has a current market capitalisation of $15.86 billion and it is the world's leading producer of rare earth materials outside China.

The company in the March 2026 quarter reported outstanding results as gross sales revenue rose 115% from the prior corresponding period to $265 million while total REO production increased from 1,911 tonnes to 3,233 tonnes. Cash and short term deposits increased to $1.07 billion which highlighted significant operational and financial progress.

Its outlook also improved after the company secured a 10 year renewal of its Malaysian operating licence and signed a new 12 year supply agreement with Japan that includes a US$110/kg NdPr floor price and received a US$96 million Letter of Intent from the U.S. Government.

Lynas also announced a long-term partnership with JS Link to develop a rare earth permanent magnet factory in Malaysia where it will invest approximately $50 million to support the project and secure an exclusive rare earth supply arrangement through 2038.

Capstone Copper Corp (ASX: CSC)

Capstone Copper Corp (ASX: CSC) has a current market capitalisation of approximately $12.2 billion and it achieved a record first quarter in 2026 as strong copper prices and solid operational execution helped it to post its sixth consecutive quarter of record adjusted EBITDA.

The company reported outstanding financial results as revenue grew 22% year-on-year to US$652.5 million while adjusted EBITDA rose 83% to a record US$329.1 million. 

Adjusted net income increased to US$94.8 million from US$8.1 million and Capstone also reaffirmed its 2026 production guidance of 200000 to 230000 tonnes of copper and kept its cost guidance unchanged. 

Capstone Copper has strong long term growth potential because of its diversified portfolio of large copper assets and a deep pipeline of organic growth opportunities which could significantly increase production and shareholder value in the years ahead.

Rio Tinto Limited (ASX: RIO)

Rio Tinto Limited (ASX: RIO) has a current market capitalisation of approximately $58.32 billion and in the second quarter of 2026 reported a solid operational update as copper equivalent production up 3% year-on-year.

The company reported resilient operational performance as H1 copper production increased 1% to 442kt while global iron ore production rose 5% to 169.9Mt and Pilbara iron ore production increased 6% while global iron ore sales rose 4% and alumina production increased 8% and lithium carbonate equivalent production surged 53% year-on-year.

Rio Tinto maintained all of its 2026 production guidance and expects major long-term projects to support future production growth across iron ore along with copper and lithium.

The company also benefits from favourable commodity markets because H1 realised copper prices increased 36% to 591 US cents per pound while aluminium prices rose and lithium demand is supported by rapid growth in battery energy storage which improves earnings potential across its portfolio.

Rio Tinto has compelling long-term growth potential through its world class asset base which position the company to benefit from rising global demand for commodities that are essential for electrification and the energy transition.

(Source: Company Announcements)