Why these 3 ASX 200 mining shares leapt into The Motley Fool's news this week

From iron ore to copper to green hydrogen, there was plenty of excitement amongst the ASX 200 miners this week.

| More on:
Three miners wearing hard hats and high vis vests take a break on site at a mine as the Fortescue share price drops in FY22

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

S&P/ASX 200 Index (ASX: XJO) mining shares made plenty of headlines this week.

Here's what drew The Motley Fool's attention to these three big mining stocks over the week gone by.

ASX 200 mining shares in the news

Fortescue Metals Group Ltd (ASX: FMG), BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) all grabbed our headlines on Wednesday following a bullish forecast for copper and iron ore prices from Citi.

The broker upped its three-month forecast for the iron ore price to US$140 per tonne while its analysts expect the copper price to reach US$8,600 per tonne. That forecast is largely based on expectations of increased stimulus measures out of China boosting the nation's struggling steel and copper-hungry property sector.

And with iron ore counting as the top revenue earner for all three ASX 200 mining shares (with copper coming in at number two), investors took note.

According to Citi:

We now expect in our base cases that China will likely increasingly push towards fiscal expansion to engineer investment-led growth, and this time with a focus on urban village redevelopment/affordable housing to support overall property market related activity in 2024.

The rebounding iron ore price has already offered some heady tailwinds for the big miners. Over the past month, the BHP share price is up 8.3%, the Rio Tinto share price has gained 12%, and the Fortescue share price is up 17.7%.

Rio Tinto shares made headline news separately on Wednesday when the ASX 200 mining share reported it had reached a settlement with the US Securities and Exchange Commission (SEC). That settlement relates to a 2017 case involving "disclosure of the impairment of Rio Tinto Coal Mozambique reflected in Rio Tinto's 2012 year-end accounts".

Rio Tinto did not admit to any fault in its book keeping or reporting requirements. But the miner agreed to pay a US$28 million penalty to put the case to rest.

And Fortescue grabbed our headlines on Tuesday when the ASX 200 mining share traded at fresh 52-week highs on the heels of announcing some major green project expansion plans.

Fortescue revealed plans to invest US$750 million in two green hydrogen projects and one green metals project over the next three years.

Should you invest $1,000 in Resapp Health right now?

Before you buy Resapp Health shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Resapp Health wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. 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 Resources Shares

Three miners wearing hard hats and high vis vests take a break on site at a mine as the Fortescue share price drops in FY22
Resources Shares

Did you catch what happened with the big 3 ASX 200 mining stocks in April?

BHP, Rio Tinto, and Fortescue all reported their latest mining results in April.

Read more »

Miner looking at a tablet.
Resources Shares

After its earnings result, what's Macquarie's price target on Fortescue shares?

Let’s dig into what Macquarie thinks of Fortescue after its quarterly update.

Read more »

Two mining workers on a laptop at a mine site.
Resources Shares

The Mineral Resources share price is down 72% in a year. Time to pounce?

Two top experts ran their slide rules over Mineral Resources shares. Here’s what they found.

Read more »

Miner looking at a tablet.
Resources Shares

Mineral Resources share price shoots 15% higher on third-quarter report

The ASX 200 iron ore and lithium giant has released its 3Q FY25 activities report.

Read more »

Image from either construction, mining or the oil industry of a friendly worker.
Resources Shares

Why Macquarie says this ASX 200 mining stock could rocket 67% in a year

Macquarie forecasts a big potential rebound for this diversified ASX 200 miner.

Read more »

Female miner smiling at a mine site.
Resources Shares

3 reasons why the Fortescue share price could still be a buy

Here’s why I view Fortescue as an opportunity.

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.
Resources Shares

Here's the latest earnings forecast out to 2029 for Rio Tinto shares

Let’s unearth what this mining giant is predicted to achieve.

Read more »

Female miner smiling in front of a mining vehicle.
Resources Shares

Is the BHP share price a buy? Here's UBS' view

Let’s dig into what an expert thinks of this mining giant.

Read more »