Top 7 ASX iron ore stocks to watch in 2026
One earns royalties from iron ore mines it doesn't run and another mines entirely in Canada.
Iron ore is the principal raw material in steel production. Six of the seven companies in this article are miners or mining-focused, with Deterra Royalties Limited ($DRR) as the exception – it earns royalty income from resource projects like the Mining Area C iron ore mine in the Pilbara, rather than extracting ore itself.
How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.
Company Name | Ticker | Share Price | Market Cap | In Watchlists |
|---|---|---|---|---|
BHP Group | BHP | $63.52 | $319.98B | 32272 |
Rio Tinto | RIO | $179.05 | $245.94B | 14447 |
Fortescue | FMG | $17.99 | $55.39B | 20589 |
Mineral Resources Limited | MIN | $64.83 | $12.87B | 8844 |
Deterra Royalties Limited | DRR | $4.39 | $2.32B | 896 |
Champion Iron | CIA | $3.50 | $1.96B | 743 |
Brockman Mining | BCK | $0.011 | $649.6M | 59 |
Past performance is not a reliable indicator of future performance.
Source: Stake market data. Figures in A$. Data updated as of 10 August 2026.
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1. BHP Group ($BHP)
BHP Group (BHP) share price over the last year: started at A$40.87, ended at A$63.52, a change of +55.4%. Range over the period: high A$65.59, low A$39.64. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $63.52 · Daily: 0.9% · Market cap: $319.98B · Sector: Basic Materials · Industry: Metals & Mining
BHP Group ($BHP) produces iron ore, copper, metallurgical coal, nickel and potash, with operations across Australia, Europe, Asia and the Americas. Its three reporting segments are Iron Ore, Copper and Coal. The Copper segment mines copper, silver, zinc, molybdenum, uranium and gold, with underground operations at Olympic Dam, Prominent Hill and Carrapateena in South Australia. Brandon Craig serves as chief executive, overseeing a workforce of 39,958 people.
The company describes copper as serving renewable energy infrastructure, nickel for electric vehicles, potash for sustainable farming, and iron ore and metallurgical coal for steel production. Revenue draws from copper, coal and potash operations alongside iron ore – so $BHP's earnings move with multiple commodity cycles.
2. Rio Tinto ($RIO)
Rio Tinto (RIO) share price over the last year: started at A$115.29, ended at A$179.05, a change of +55.3%. Range over the period: high A$194.47, low A$112.71. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $179.05 · Daily: 0.8% · Market cap: $245.94B · Sector: Basic Materials · Industry: Metals & Mining
Mining and processing materials across over 34 countries and six continents, Rio Tinto Limited ($RIO) covers iron ore, copper, aluminium, bauxite, lithium and a range of other minerals. Its iron ore business is anchored in Western Australia's Pilbara region, where $RIO owns and operates 18 mines, four port terminals and a nearly 2,000 km rail network to move ore from mine to port.
The iron ore segment also draws on the Iron Ore Company of Canada for iron concentrate and pellet production. Its Copper segment mines and refines copper, with gold, silver and molybdenum coming out as by-products. The Aluminium & Lithium segment runs the full chain from bauxite mining through to aluminium smelting and recycling, and includes lithium mining and processing. Simon Trott serves as CEO.
3. Fortescue ($FMG)
Fortescue (FMG) share price over the last year: started at A$19.42, ended at A$17.99, a change of −7.4%. Range over the period: high A$22.99, low A$17.80. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $17.99 · Daily: -0.2% · Market cap: $55.39B · Sector: Basic Materials · Industry: Metals & Mining
Fortescue Ltd ($FMG) mines and ships iron ore across a portfolio of Pilbara operations – Hedland, Chichester Hub, Western Hub and Iron Bridge among them. $FMG also holds exploration projects in Gabon, Latin America and Australia as it looks to extend its metals reach beyond the Pilbara.
The company runs a second segment focused on green energy, including green hydrogen, green ammonia and green electricity development. That work takes in the Arizona Hydrogen project, the Holmaneset project, the Pecem project and the Gladstone PEM50 Project, with CEO Dino Otranto leading the combined business.
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4. Mineral Resources Limited ($MIN)
Mineral Resources Limited (MIN) share price over the last year: started at A$38.12, ended at A$64.83, a change of +70.1%. Range over the period: high A$74.33, low A$35.08. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $64.83 · Daily: 1.0% · Market cap: $12.87B · Sector: Basic Materials · Industry: Metals & Mining
Mineral Resources Limited ($MIN) sits across several parts of the resources industry at once. It mines iron ore in the Pilbara and Onslow regions of Western Australia, produces lithium, and runs an energy business – but it also operates a substantial mining services arm through its subsidiary CSI Mining Services.
That services business covers pit-to-ship logistics, processing, manufacturing, rehabilitation and equipment supply for other resource companies. An engineering and construction division handles complex project delivery across iron ore, lithium and gas, as well as road and port construction. It means $MIN earns revenue from the mining activity of others, not just its own ore in the ground.
5. Deterra Royalties Limited ($DRR)
Deterra Royalties Limited (DRR) share price over the last year: started at A$4.45, ended at A$4.39, a change of −1.3%. Range over the period: high A$4.71, low A$3.73. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $4.39 · Daily: 0.7% · Market cap: $2.32B · Sector: Financials · Industry: Investment Services
Deterra Royalties Limited ($DRR) sits in a different part of the resources sector than most names in this article – it earns royalty income from mines rather than running them. Its two flagship royalties are Mining Area C, an iron ore mine in the Pilbara, and the Thacker Pass lithium project in Nevada, U.S. CEO Jason Neal oversees a portfolio that extends across bulk, base, battery and precious metals at various points in the mine lifecycle.
The royalty model means $DRR provides upfront finance to resource companies in exchange for a share of future revenue from those projects. That structure gives the company exposure to commodity production without bearing the direct operating costs of extraction. Beyond its two flagship assets, its bulk holdings include Koolyanobbing and several mineral sands projects, while its base and battery metals portfolio covers assets across multiple countries.
6. Champion Iron ($CIA)
Champion Iron (CIA) share price over the last year: started at A$4.21, ended at A$3.50, a change of −16.9%. Range over the period: high A$6.62, low A$3.31. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $3.50 · Daily: -0.3% · Market cap: $1.96B · Sector: Basic Materials · Industry: Metals & Mining
Champion Iron Limited ($CIA) is an Australia-based company whose iron ore operations are entirely in Canada. Through its wholly owned subsidiary Quebec Iron Ore Inc., $CIA owns and operates the Bloom Lake Mining Complex, an open-pit mine sitting near Fermont in Quebec's Labrador Trough region. Two concentration plants process the ore on site, and the facility draws its energy primarily from renewable hydroelectric power.
From Bloom Lake, iron ore concentrate travels by rail to a ship loading port in Sept-Îles, Quebec, then on to customers across China, Japan, South Korea, India, the Middle East, Europe and Canada. Beyond Bloom Lake, $CIA holds a portfolio of exploration and development projects in the same Labrador Trough region – including the Kamistiatusset Project and the Cluster II portfolio – alongside Cluster I, Powderhorn and Gullbridge. David Cataford serves as CEO.
7. Brockman Mining ($BCK)
Brockman Mining (BCK) share price over the last year: started at A$0.017, ended at A$0.011, a change of −35.3%. Range over the period: high A$0.022, low A$0.010. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: $0.011 · Daily: 0.0% · Market cap: $649.6M · Sector: Basic Materials · Industry: Metals & Mining
Iron ore in Western Australia is the central focus for Brockman Mining Limited ($BCK). The company holds the Marillan and Ophthalmia projects through its Mineral Tenements in Australia segment. Both sit at the exploration and development stage, meaning $BCK is working to define and advance those tenements rather than producing ore. The same segment also covers exploration in other areas of Western Australia.
A second segment handles corporate services for the investment holding structure. Colin Paterson leads the company as CEO, with a total of 14 employees.
Common questions
How do I invest in iron ore stocks in Australia?
Every stock in this list trades on the ASX, so you can buy shares through any share trading platform with ASX access. You search the ticker, place an order, and settlement runs through CHESS – the ASX's electronic share settlement system. A couple of names here, including $BHP and $RIO, also have international listings, but their ASX-listed shares work the same way as any other local stock.
What are the key risks of iron ore stocks?
Iron ore is priced globally, and the price can move sharply when steel production slows – particularly in economies that consume large volumes of seaborne ore. A sustained fall in the iron ore price compresses margins across the sector, regardless of a producer's cost base. The AUD/USD exchange rate adds another layer of exposure, since iron ore is typically priced in USD while most Australian mining costs are denominated in AUD. Smaller or earlier-stage companies carry additional company-specific risk around project timelines, permitting and access to capital.
What drives the iron ore price?
Steel production is the primary driver – iron ore is the main raw material for making steel, so demand moves broadly with construction activity and industrial output in steel-consuming economies. Supply from major exporting regions and the cost of ocean freight also influence where prices settle. Because iron ore is priced in USD, movements in the AUD/USD rate affect how Australian producers' revenues translate into local-currency terms.
How does a royalty company differ from an iron ore miner?
A royalty company holds contractual rights to receive a share of revenue – or sometimes production – from mines operated by others, rather than running those mines itself. $DRR fits that model: its income flows from royalties over assets including the Mining Area C iron ore operation in the Pilbara, not from mining the ore directly. It doesn't carry the direct costs of equipment, labour or mine operations, but its income still moves with the iron ore price and the production volumes at the underlying mines.
Disclaimer
Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.
This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.
Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.
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This article combines AI and human review from our analysts to bring you accurate, informative investing content at speed. For questions or suggestions, contact stakedesk@stake.com.au.
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