Fuelled by strong performances ASX mining stocks in spotlight

As global demand for lithium, nickel and iron ore accelerates, these ASX mining heavyweights are proving their resilience by delivering impressive production and advancing ambitious growth plans.

ASX mining stocks in spotlight

Pilbara Minerals Limited (ASX: PLS) 

IGO Limited (ASX: IGO) 

Nickel Industries Limited (ASX: NIC) 

Fortescue Limited (ASX: FMG) 

Pilbara Minerals Limited (ASX: PLS) 

kept building its name as one of the leading lithium producers in the world even though prices were weaker in FY25.
The company posted a record annual output of 755kt, up about 4% from last year as revenue stood at $769 million and underlying EBITDA was $97 million which was affected by a 43% fall in prices.
Pilbara ended the year with a solid $1 billion cash pile and total liquidity of $1.6 billion showing strong financial health.
FY26 guidance shows higher production between 820–870kt and lower costs ($560–600/t) as the company focuses on optimising output.

IGO Limited (ASX: IGO) 

had a tough FY25 but still managed to keep its operations solid especially at the Greenbushes Lithium Mine which is one of the biggest lithium mines in the world. 
Even though lithium and nickel prices were weak, Greenbushes still produced around 1.48Mt of spodumene concentrate at a cash cost of about $325 per tonne, giving an impressive 66% EBITDA margin and $1.5 billion in operating cash flow. 

The company ended up reporting a net loss of around $955 million due to non-cash impairments and ended year with $280 million in cash and another $300 million available in unused credit lines. 
For FY26, IGO plans to increase its spodumene production to between 1.5 and 1.65 million tonnes and focus on exploration across different regions.

Nickel Industries Limited (ASX: NIC) 

showed impressive performance in first half of FY25 even though nickel prices were weak because it has a mix of businesses through RKEF, HPAL and mining operations in Indonesia.
It reported sales revenue of about US$829.7 million and gross profit of US$114.8 million. Adjusted EBITDA came in at US$159.3 million which was 2% higher than the previous half. Net profit after tax jumped 81% to US$25.5 million.

The ENC HPAL project construction is almost done and is expected to start running by Q4 2025 which will boost the company’s nickel production.
With more capacity, focus on sustainability and upcoming refinancing to reduce costs, Nickel Industries looks in a good position for future growth.

Fortescue Limited (ASX: FMG) 

had another great year in FY25, managing to keep its iron ore business steady while also putting more money into green energy and decarbonisation plans. 

The company made around US$15.5 billion in revenue with an underlying EBITDA of US$7.9 billion and a net profit after tax of US$3.4 billion. The company made about US$6.5 billion from operating cash flow and around US$2.6 billion in free cash flow. 

At the end of the year it had US$4.3 billion in cash and US$5.4 billion in gross debt showing a healthy balance sheet. Shareholders got a fully franked total dividend of $1.10 per share which means about 65% payout ratio. 

For FY26, the company expects shipments between 195–205Mt as Fortescue aims to sustain its place as one of the top players in this space worldwide.

(Source: Company Announcements)