What sent these resources shares higher today? We take a look.
The post 3 ASX 200 mining shares that surged more than 5% today appeared first on The Motley Fool Australia. –
The S&P/ASX 200 Resources Index (ASX: XJR) finished in the green today, but three ASX 200 mining shares soared higher than the index.
The ASX 200 Resources Index climbed 1.49% to 5,796.2 points. For comparison, the S&P/ASX 200 Index (ASX: XJO) also jumped 0.82% today.
Let’s take a look at which ASX 200 mining shares had a stellar day.
Pilbara Minerals (ASX: PLS)
The Pilbara Minerals share price surged 7.6% today. The company is one of many ASX lithium shares to enjoy a day in the green.
As my Foolish colleague James reported, this market sentiment appeared to be driven by a strong result from lithium giant Livent Corp (NSYE: LTHM) in the United States. Livent shares exploded 30% after the company performed ahead of market expectations. CEO Paul Graves spoke highly of the global lithium market. He commented: “Strong lithium demand has continued in 2022.”
Pilbara’s share price has surged 141% in a year but is down 11.5% this year to date. The company recently reported lithium prices jumped to record highs in the quarter ended March.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price rocketed 8.75% today. The company’s share price has risen 121% year to date and 392% over the past 12 months.
Core Lithium shares leapt today amid a strong day for ASX lithium shares. Other ASX lithium shares to rise include Allkem Ltd (ASX: AKE), up 4.79%, Lake Resources N.L. (ASX: LKE), up 5.69%, and Liontown Resources Limited (ASX: LTR), up 7.72%.
Core Lithium has recently received environmental approval for the BP33 underground mine in the Northern Territory.
Chalice Mining Ltd (ASX: CHN)
Chalice Mining shares leapt 5.43% today. Chalice is exploring the Jumilar nickel, copper, and platinum group elements (PGE) project in the Avon region of Western Australia.
Copper prices are up 1.76% to US$4.4045 a pound, Trading Economics data shows. However, nickel prices have fallen 1.18%.
Chalice presented at the Macquarie 2022 Australia conference on Wednesday. The company noted Jumilar has the potential to be a “globally significant” source of class 1 nickel. Chalice said: “Julimar’s proximity to WA’s world-class power grid and infrastructure make it uniquely positioned to deliver low carbon intensity metals.”
The Chalice Mining share price has gained 5% over the past 12 months but is down 25% so far this year.
The post 3 ASX 200 mining shares that surged more than 5% today appeared first on The Motley Fool Australia.
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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 Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.