Top 5 ASX Mining Stocks for 2026

Production increases, costs improve, debt reduces, new projects start and over time these small changes become big growth stories. Looking closely at ASX stocks gives a good idea of how different mining and resource companies are growing in different ways.

Liontown Limited (ASX: LTR)

Liontown Limited (ASX: LTR) reported revenue of about $207.5 million for the half year which was more than doubled compared to last year due to strong increase in lithium production and sales volumes. 

Production increased significantly as the Kathleen Valley project ramped up underground production. The company reported a statutory net loss of about $184 million mainly due to non-cash charges, depreciation and finance costs during the ramp up phase. 

LTR ended the period with around $390 million cash and reduced gearing significantly after debt conversion. The company expects stronger performance in the second half as production increases and unit costs decline.

Mineral Resources Limited (ASX: MIN)

Mineral Resources Limited (ASX: MIN) reported half year result with the revenue increasing to around $3.1 billion and the underlying EBITDA reaching about $1.2 billion.

 Net profit after tax was around $573 million and the company generated free cash flow of about $293 million during the period. The company also reduced net debt to around $4.9 billion and improved liquidity to about $1.4 billion. 

The strong performance was mainly driven by iron ore operations, lithium operations and mining services business. The company also completed a transaction to sell a stake in lithium assets which will help reduce debt further.

Genesis Minerals Limited (ASX: GMD)

Genesis Minerals Limited (ASX: GMD) reported revenue of about $820 million for the half year which was up more than 140% compared to last year. 

Net profit after tax increased to around $238 million and EBITDA increased significantly as gold production and margins improved. Gold production during the period was approximately 147,000 ounces and it has maintained its FY26 production guidance in the range of 260,000 to 290,000 ounces.

The company closed the period with over $400 million in cash and bullion and had no significant debt on balance sheet. The Tower Hill project is progressing ahead of the schedule and is expected to support the future production growth.

Newmont Corporation (ASX: NEM)

Newmont Corporation (ASX: NEM) reported strong performance for the year 2025 with total sales of about $22.7 billion and net income of around $7.2 billion. 

NEM also generated operating cash flow of about $10.3 billion and free cash flow of around $7.3 billion during the year which reflects solid cash generation and operational performance. Gold production was close to 5.9 million ounces which was slightly lower than the last year mainly due to asset sales. 

It also reduced its debt and ended the year with strong cash position and good liquidity. 

Newmont declared quarterly dividend of about $0.26 per share and expects gold production of around 5.3 million ounces in 2026 which shows stable outlook for the business.

IGO Limited (ASX: IGO)

IGO Limited (ASX: IGO) reported half year revenue of approximately $194 million which was lower compared to last year mainly due to reduced nickel sales volumes.

The company reported a net loss of about $34 million however, it still generated underlying EBITDA of around $49 million and free cash flow of approximately $29 million during the period. The Greenbushes lithium operation remained the company’s strongest asset which is supported by strong margins and steady cash flow.

IGO ended the period with net cash of around $299 million which indicates that balance sheet remains solid. The company is currently focusing on cost control, cash generation and margin improvement rather than pursuing aggressive expansion.

(Source: Company Announcements)