S&P/ASX 200 Index (ASX: XJO) mining shares experienced an outstanding year in FY26.
The ASX 200 materials sector, dominated by miners, was the best of the 11 market sectors, rising 47% and returning 52% in total.
The S&P/ASX 300 Metals & Mining Index (ASX: XMM), which captures more of the explorers than the ASX 200, did even better.
ASX 300 mining shares rose 53%, and delivered a total return of 59%.
Australia is in the midst of a new mining boom driven by five key elements.
Many commodities rose in value in FY26, which boosted the earnings of the 5 best ASX 200 mining shares of the year.
Here, we look at three ASX mining shares that brokers recommend buying now for FY27.
BHP Group Ltd (ASX: BHP)
The BHP share price is up 2.6% to $58.35 today, and up 52% over 12 months.
BHP was one of the best performers for capital growth amongst the ASX 200 large-cap shares last year.
Blake Halligan from Catapult Wealth explains his buy rating on BHP shares:
The global miner holds dominant positions in iron ore and copper and is leveraged to increasing demand during the energy transition.
Despite the Jansen impairment and the risk of industrial action at iron ore operations in the Pilbara region of Western Australia, near term earnings momentum remains strong.
The balance sheet remains robust with low net debt, while a recent dividend yield above 3 per cent adds income appeal.
Read more about what the experts anticipate for BHP shares over the next 12 months.
Nickel Industries Ltd (ASX: NIC)
The Nickel Industries share price is 89 cents, up 2.3% today and up 21% over 12 months.
Bell Potter has a buy rating with a 12-month price target of $1.55 on this ASX 300 nickel share.
This implies potential capital growth of almost 75% over the next 12 months.
The broker said:
NIC offers nickel price leverage and diversified margin exposure across an integrated value chain.
The HPAL expansion transactions will further balance NIC’s earnings into downstream higher-margin operations and preserve earnings through the nickel price cycle.
Maronan Metals Ltd (ASX: MMA)
The Maronan Metals share price is 43 cents, down 1.2% today and up 93% over 12 months.
Maronan is developing a silver-lead and copper-gold deposit in Queensland’s Cloncurry region.
The mine is one of Australia’s largest undeveloped silver-lead and copper-gold deposits.
Morgans initiated coverage on this ASX silver share with a speculative buy call and a 66-cent target this month.
This implies a potential 53% upside over the next 12 months.
The broker said:
The wholly-owned Maronan Mineral Development Lease (MDL 2028) was approved in September 2025, after the Preliminary Economic Assessment (PEA) evaluated a 10-year underground mine life based on 22% of the total resource.
The resource to JORC Code (2012) standards contains 122Moz silver, 2Mt lead, 271kt copper and 0.76Moz gold, with yearly production 5.4Moz silver equivalent (AgEq) at an all-in sustaining cost (AISC) of A$30.18/oz (~US$20/oz) AgEq.
While the PEA is robust, MMA is yet to deliver a feasibility study, secure development finance, receive grant of a Mining Lease, and commence the path from construction to production.
With 40-45% exposure to silver and 20-25% to lead, commodity prices are also the key to the level of profitability.
The post 3 ASX mining shares to buy now: experts appeared first on The Motley Fool Australia.
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More reading
- ASX 200 snaps its losing streak as miners and banks rally
- 9 ASX 200 shares with reiterated buy calls this week
- Here’s what brokers tip for BHP shares over the next 12 months
- The bull and bear case for CBA and BHP shares
- Which ASX 200 sectors paid the highest dividend yields in FY26?
Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.