3 ASX mining shares going gangbusters on Tuesday

What do investors like about these ASX mining shares?

| More on:
A man in a hard hat and high visibility vest holds his thumb up in a gesture of confidence with heavy moving equipment in the background as on a mine site as the Chalice Mining share price rises today.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Three ASX mining shares are steaming ahead today 
  • One of these companies has identified 34 new exploration targets 
  • Another company has validated the process design for a sulphate of potash project 

The S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.11% at the time of writing, but three shares are outperforming the index on Tuesday.

The Kalium Lakes Ltd (ASX: KLL), Belararox Ltd (ASX: BRX) and Arafura Resources Ltd (ASX: ARU) shares are all steaming ahead.

Lets take a look at why these three ASX mining shares are attracting investor interest today.

Kalium Lakes Ltd (ASX: KLL)

The Kalium Lakes share price is surging 19.32% to 10.5 cents apiece at the time of writing. It's settled after jumping 25% to 11 cents earlier today. Kalium is developing the Beyondie Sulphate of Potash (SOP) Project in Western Australia. In today's news, the company advised it has validated the process chemistry and plant design for the production of about 400 tonnes of commercially saleable SOP. The company now targets commercial production in July 2022. Commenting on the news, CEO Len Jubber said:

Kalium Lakes is the first SOP producer in Australia, and we look forward to selling our first commercial production into the current extremely strong SOP price environment.

Belararox Ltd (ASX: BRX)

Belarox shares are soaring nearly 22% today. Investors appear to be buying up the mineral explorer's shares after it identified 34 new exploration targets outside the Belara and Native Bee resource areas. Belarox is exploring the Belara Project in the Lachlan Fold Belt of New South Wales. Of these targets, 11 had a combined strike of eight kilometres, eight times the known mineralisation. Belarox is searching for zinc, copper, gold, silver, nickel, and lead. The company is particularly focussed on clean energy metals, including those used in electric vehicles (EV). Commenting on the news today, managing director Arvind Misra said:

We are excited with the findings of the prospectivity modelling work and look forward to extending our knowledge with downhole EM surveys and additional targeted drilling in the highest prospective areas.

Arafura Resources Ltd (ASX: ARU)

The Arafura Resources share price is soaring 16.7% today despite no new news from the company. However, in a tweet yesterday, the rare earths explorer said it is continuing to introduce itself to "significant national and international investors". The company highlighted it presented at three conferences last week. These included the UBS Australian Emerging Companies Conference, the ALTA Presenter Breakfast, and the Austmine CEO Leadership Luncheon. Arafura is developing the Nolans Project for Neodymium-Praseodymium (NdPR) oxide in the Northern Territory. In the presentation to Austmine, Arafura highlighted the project is the only "NdPR focussed project in Australia" planning to mine and process ore to oxide at the one site. On 19 May, Arafura signed a non binding memorandum of understanding with Hyundai for the supply of NdPR oxide from the Nolans project.

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Materials Shares

A happy construction worker or miner holds a fistful of Australian dollar notes.
Materials Shares

$5,000 invested in BHP shares 5 years ago is now worth…

Will its shareholders be happy with their investment? Let's find out.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Materials Shares

Guess which ASX 200 stock is ending the week with a bang thanks to Rio Tinto

This stock has won a major contract from the mining giant.

Read more »

A man wearing a hard hat and high visibility vest looks out over a vast plain where heavy mining equipment can be seen in the background.
Materials Shares

Is it time to buy ASX lithium shares?

Lithium prices continue to sink. Has this created a buying opportunity?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Materials Shares

Mineral Resources shares sink on Onslow Iron blow

This miner is having a tough session. Let's find out why.

Read more »

A man sits in a chair hunched over a laptop and covered head to toe in frozen icicles to represent Envirosuite's trading halt
Materials Shares

MAC Copper shares in trading halt as miner flags 'potential control transaction'

MAC Copper shares are frozen while Sandfire Resources shares are the fastest risers of the ASX 200 today.

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Materials Shares

Bell Potter says this ASX lithium stock could rise ~50%

The broker has just put a buy rating on this lithium stock.

Read more »

A woman stands next to a large green battery smiling and eating an apple with a lifting green arrow line in the background, indicating rising stock prices.
Share Market News

Are Liontown Resources shares a buy, hold or sell according to Macquarie?

Here’s what the broker has to say about this Lithium miner. 

Read more »

A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.
Materials Shares

Rio Tinto share price tumbles on CEO bombshell news

The mining giant is now looking for a new leader.

Read more »