Top 3 ASX stocks to benefit from copper bull run

Copper is set for a long term bull run as the global economy has accelerated in areas of electrification and renewable energy. The high levels of adoption of electric vehicles and the expansion of AI powered data centres are also expected to drive substantial demand for the red metal. Supply is struggling to meet the high demand because ageing mines and lengthy project development timelines limit production growth. The lack of major new discoveries is another challenge. Here are three ASX stocks which are well positioned to benefit from this trend.

Best ASX Mining Stocks

AIC Mines Limited (ASX: A1M) is an Australian copper and gold producer which is focused on the development of a portfolio of exceptional mining assets. Its flagship Eloise mine in North Queensland and the nearby Jericho project offer significant opportunities to increase production.

The company during the September 2026 quarter produced 3,072 tonnes of copper and 1,562 ounces of gold in concentrate from Eloise and Jericho. Eloise also achieved an AISC of $4.86 per pound of copper sold and recorded its highest quarterly net mine cash flow of $33.4 million.

A major growth opportunity for the company is the planned expansion of the Eloise processing plant from 725,000 tonnes to 1.1 million tonnes per annum.

Management has retained its FY27 production guidance of 17,500-18,500 tonnes of copper and 7,250 to 7,750 ounces of gold in concentrate. Jericho is expected to reach commercial production in January 2027 while the combined Eloise Jericho mining operation has set an aim to ramp up production to 1.1 million tonnes annually.

Sandfire Resources Limited (ASX: SFR) is a global copper producer with operations in Spain and Botswana. Its MATSA and Motheo mines produced a combined 38.9kt of copper equivalent in Q1 FY27 which represents 25% of the midpoint of its annual guidance. The company has maintained its full-year production and cost guidance and currently has a market capitalisation of $9.61 billion.

The company in the quarter generated sales revenue of US$480 million and underlying EBITDA of US$272 million which translated into an impressive EBITDA margin of 57%.

Sandfire ended the quarter with US$342 million in net cash after it returned US$117 million to shareholders through its first fully franked dividend in four years.

The company has set a FY27 production target of 150,000-166,000 tonnes of copper equivalent. It also has a plan to develop 33MW and 21MW solar facilities at MATSA and Motheo respectively which are expected to provide lower-cost and more reliable energy while improving operational efficiency and supporting long-term growth prospects.

Capstone Copper Corp (ASX: CSC) is a copper producer focused on the Americas and it has several development and exploration projects that offer opportunities to increase copper production over the coming years.

The company in Q3 2026 produced 45,218 tonnes of copper at consolidated C1 cash costs of US$2.95 per pound while the realised copper price rose to US$6.61 per pound.

Capstone reported impressive financial performance during the quarter as revenue grew 19% to US$712 million and adjusted EBITDA rose 44% to a record US$358.3 million. Free cash flow from operations increased to US$63.7 million from US$23.2 million in the same period last year.

Management expects copper production in 2026 to reach the lower end of its 200,000 to 230,000 tonne guidance range while C1 cash costs are likely to be towards the higher end of the US$2.45-US$2.75 per pound range.

The company's balance sheet also improved considerably as net debt fell from US$780.1 million in December 2025 to US$564 million in September 2026 and its current market capitalisation is $11.51 billion.

(Source: Company Announcements)