S&P/ASX 200 Index (ASX: XJO) mining shares outperformed the broader market last year.
The ASX 200 dropped more than 5% over the 12 months to 31 December 2022 amid soaring inflation, rising interest rates, and the war in Ukraine. But the S&P/ASX 200 Materials Index (ASX: XMJ) dodged the carnage, gaining around 5% in that time.
Perhaps unsurprisingly, it was lithium and coal miners that led the way.
Let's crown the three biggest share price gains posted among ASX 200 materials and resources shares in 2022.
3 best ASX 200 mining shares of 2022
Taking out gold as the ASX 200's top-performing mining share of 2022 is – drum roll please – lithium favourite Core Lithium Ltd (ASX: CXO).
After closing 2021 at 59 cents, the share shot up over the course of last year to finish at $1.02 – marking a 72.9% gain for the 12-month period.
Lithium was the talk of the town last year and Core Lithium was there to capitalise. The company is working to kick off production at its Finniss Project in the Northern Territory. It's set to ramp up in the current half.
The next best-performing ASX 200 mining share of 2022 was coal producer Coronado Global Resources Inc (ASX: CRN).
It rose from $1.24 at the final close of 2021 to end last year at $1.99 – a whopping 60.5% gain.
Much of its rise was seemingly driven by its soaring earnings, a result of sky-high coal prices. The black rock's value soared in 2022 as Russia's invasion of Ukraine sparked an energy crisis in Europe.
Finally, taking out bronze is another lithium favourite, Sayona Mining Ltd (ASX: SYA). The mining share was added to the ASX 200 in September.
Its shares closed 2021 at just 13 cents before leaping to exit last year at 19 cents – a 46.1% gain.
The company holds assets in Canada and Australia and is expected to restart its North American Lithium operation this quarter.
