Top 5 ASX mining stocks for November 2025

As demand for base metals and critical minerals accelerates, these five ASX mining stocks stand out for their improving production results and expanding project pipelines making them the top names to watch out for in November.

 Best 5 ASX mining stocks for November

South32 Limited (ASX: S32) 

Pilbara Minerals Limited (ASX: PLS)

Evolution Mining Limited (ASX: EVN) 

Viridis Mining and Minerals Limited (ASX: VMM) 

Rio Tinto Limited (ASX: RIO) 

South32 Limited (ASX: S32) 

had a solid September 2025 quarter showing great operations and steady progress across its global mining sites. 
Payable copper equivalent output at Sierra Gorda went up by 12% helped by better ore grades and higher molybdenum production while Australia Manganese volumes jumped 33% after exports got back on track following Cyclone Megan issues. 
South32 also got support from the U.S government for its high grade copper and zinc assets in Alaska.
Progress was seen at Hermosa’s Taylor zinc-lead-silver deposit and the Clark battery-grade manganese project.
With a net cash of US$64 million, the company looks in good shape to keep growing steadily, stay diversified and build long term value for shareholders in the critical minerals space.

Pilbara Minerals Limited (ASX: PLS) 

is showing constant focus on building its name as one of the leading lithium producers in the world even though prices were weak in FY25.
The company posted a record annual output of 755kt, up about 4% from last year as revenue came in at $769 million and underlying EBITDA was $97 million which was because of 43% fall in prices.
Pilbara ended the year with a solid $1 billion cash and total liquidity was $1.6 billion which shows disciplined cost management.
FY26 guidance shows higher production between 820–870kt as the company aims to execute its plans and deliver better results in future.

Evolution Mining Limited (ASX: EVN) 

had a really great FY25 with EBITDA touching $2.2 billion and Net profit after tax jumped to $926 million while gearing dropped to 15% showing a big improvement in financial strength.
The company met its targets producing around 751,000 ounces of gold and 76,000 tonnes of copper, keeping its AISC at $1,572 per ounce.
Some major highlights were finishing the Mungari Mill Expansion early and under budget and also getting board approval for the Cowal Open Pit Continuation Project which now extends mine life till 2042. 
The Ernest Henry Mine Extension Feasibility Study also confirmed mine life till 2040 which gives strong copper exposure for long term. The company announced total dividends of 20 cents per share, giving back $400 million to shareholders.

Viridis Mining and Minerals Limited (ASX: VMM) 

has quickly made a name for itself in the global rare earth space, mainly because of its big Colossus Project in Brazil. 
A Pre-Feasibility Study released in July 2025 showed really strong numbers, with a pre-tax NPV of around US$1.41 billion and an average yearly EBITDA of about US$197 million over a 20-year mine life.
Brazilian banks BNDES and FINEP picked Viridis for possible funding of up to BRL$5 billion, and it also teamed up with Ionic Rare Earths to work on refining and magnet recycling. 
With around $58.5 million in cash and government support, Viridis looks set to become a major rare earth producer.

Rio Tinto Limited (ASX: RIO) 

had an impressive September 2025 quarter showing 9% year on year growth in copper  production.
Pilbara shipments went up 6% from the last quarter to 84.3 Mt, making it the second highest Q3 result since 2019.Bauxite production also reached a record level of 16.4 Mt which made the company raise its full year target to 59–61 Mt.
Some key updates include the first ore movement at the Simandou iron ore project in Guinea and also steady progress at the Rincon Lithium Project in Argentina after it got environmental approvals.
The balance sheet stayed strong with strict cost management as  Rio Tinto looks well set for consistent earnings growth and delivering long term value for shareholders.

(Source: Company Announcements)