Top 9 ASX lithium stocks to watch in 2026

Lithium is the key raw material in rechargeable batteries for electric vehicles and energy storage. The nine companies on this list approach the lithium supply chain from very different angles – Rio Tinto ($RIO) is a diversified global miner where lithium sits alongside iron ore and copper, while Vulcan Energy Resources ($VUL) pursues lithium from geothermal brines in Europe rather than hard-rock deposits in Western Australia.

How we built this list: We selected these companies based on their industry. 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.

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. Anson Resources ($ASN)

Anson Resources (ASN) share price over the last year: started at A$0.11, ended at A$0.047, a change of −57.3%. Range over the period: high A$0.12, low A$0.041. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.047 · Daily: 4.4% · Market cap: $76.1M · Sector: Basic Materials · Industry: Metals & Mining

Anson Resources ($ASN) is working toward lithium production in the United States, with its primary asset in the Paradox Basin of southern Utah. The Paradox Lithium Project covers 167 square kilometres and is at an advanced development stage, with the company focused on bringing it into production. About 50 kilometres to the northwest, the Green River Lithium Project adds a second lithium position within the same state.

Beyond lithium, $ASN holds the Yellow Cat Uranium-Vanadium Project in Utah and a set of exploration projects in Western Australia that target nickel, copper, cobalt and platinum group elements. CEO Bruce Richardson oversees the full portfolio across these commodities and geographies.

2. Rio Tinto ($RIO)

Rio Tinto (RIO) share price over the last year: started at A$116.72, ended at A$179.05, a change of +53.4%. 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: $247.01B · Sector: Basic Materials · Industry: Metals & Mining

Rio Tinto Limited ($RIO) mines and processes minerals across more than 34 countries. Lithium sits within $RIO's Aluminium & Lithium segment, alongside bauxite mining, alumina refining, and aluminium smelting and recycling. That segment covers a chain running from raw ore through to finished metal.

The Iron Ore segment runs 18 mines, four port terminals and a nearly 2,000 km rail network in the Pilbara region of Western Australia, plus iron concentrate and pellets through the Iron Ore Company of Canada. The Copper segment covers copper mining and refining, with gold, silver and molybdenum among the by-products. Simon Trott leads the company as chief executive.

3. PLS Group ($PLS)

PLS Group (PLS) share price over the last year: started at A$2.29, ended at A$4.72, a change of +106.1%. Range over the period: high A$6.74, low A$1.97. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $4.72 · Daily: 3.1% · Market cap: $15.22B · Sector: Basic Materials · Industry: Metals & Mining

PLS Group Limited ($PLS), formerly Pilbara Minerals, mines lithium from hard rock at the Pilgangoora Operation in Western Australia, 140 kilometres southeast of Port Hedland in the Pilbara region. $PLS owns 100% of that operation, which sits on Nyamal and Kariyarra Country. The company also holds the Colina Lithium Project near the town of Salinas in the Brazilian state of Minas Gerais.

Going further down the supply chain, $PLS participates in a joint venture with POSCO Pilbara Lithium Solution Co. Ltd in South Korea. That partnership manufactures battery-grade lithium hydroxide, adding a processing and refining dimension to what is otherwise a mining-focused business. CEO Dale Henderson leads a workforce of 877 people across those operations.

4. Mineral Resources Limited ($MIN)

Mineral Resources Limited (MIN) share price over the last year: started at A$37.50, ended at A$64.83, a change of +72.9%. 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 – mining lithium and iron ore, but also running the equipment, logistics and services that other miners rely on to get product out of the ground. Through its CSI Mining Services subsidiary, $MIN offers what it calls pit-to-ship services: mining and processing, transport, rehabilitation and parts supply, all aimed at the broader resource sector in Western Australia.

Its iron ore operations cover the Pilbara and Onslow regions, and its engineering division takes on complex construction projects across lithium, iron ore and gas, as well as roads and ports. That mix of commodity exposure and in-house services infrastructure makes $MIN a different kind of entry on a lithium list – the lithium business is one segment among five, not the whole story.

5. IGO Limited ($IGO)

IGO Limited (IGO) share price over the last year: started at A$5.42, ended at A$7.72, a change of +42.4%. Range over the period: high A$10.03, low A$4.12. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $7.72 · Daily: 3.6% · Market cap: $5.85B · Sector: Basic Materials · Industry: Metals & Mining

Nickel, copper and lithium are the three materials at the centre of IGO Limited's ($IGO) business. $IGO runs underground nickel operations at Nova and Forrestania in Western Australia, with a third nickel project – Odysseus – under development at Cosmos.

Its lithium exposure comes through a 49% stake in Tianqi Lithium Energy Australia (TLEA), a joint venture with Tianqi Lithium Corporation. TLEA owns the Greenbushes Lithium Mine and the Kwinana Lithium Hydroxide Refinery, which processes spodumene concentrate into battery-grade lithium hydroxide.

6. Liontown ($LTR)

Liontown (LTR) share price over the last year: started at A$0.92, ended at A$1.20, a change of +30.4%. Range over the period: high A$2.64, low A$0.77. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $1.20 · Daily: 1.7% · Market cap: $3.81B · Sector: Basic Materials · Industry: Metals & Mining

Liontown Limited ($LTR) produces battery minerals from two hard-rock lithium deposits in Western Australia. The Kathleen Valley Project – about 680 kilometres north-east of Perth – is the primary operation, drawing spodumene from an established mining region near Leinster. The Buldania Project, in the Eastern Goldfields Province roughly 600 kilometres east of Perth, sits close to road and rail links that connect through to the Port of Esperance.

Beyond mining, $LTR is investigating whether an integrated refinery could upgrade Kathleen Valley's spodumene concentrate into higher-value lithium products, extending further along the battery materials supply chain.

7. Vulcan Energy Resources Limited ($VUL)

Vulcan Energy Resources Limited (VUL) share price over the last year: started at A$3.15, ended at A$2.97, a change of −5.6%. Range over the period: high A$6.29, low A$2.48. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $2.97 · Daily: 3.8% · Market cap: $1.42B · Sector: Basic Materials · Industry: Metals & Mining

The Lionheart Project, located in Germany's Upper Rhine Valley Brine Field, is where Vulcan Energy Resources Limited ($VUL) is working to produce lithium from geothermal brines. Alongside lithium extraction, the Germany segment also supplies geothermal energy and provides engineering services. $VUL has developed VULSORB, an in-house sorbent designed to extract lithium from brine. Exploration activity in France and Italy rounds out the company's European footprint.

8. Core Lithium ($CXO)

Core Lithium (CXO) share price over the last year: started at A$0.13, ended at A$0.31, a change of +144.0%. Range over the period: high A$0.38, low A$0.10. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.31 · Daily: 7.0% · Market cap: $987.2M · Sector: Basic Materials · Industry: Metals & Mining

Core Lithium ($CXO) centres its operations on the Finniss Lithium Operation on the Cox Peninsula in the Northern Territory. The site sits 88 kilometres by sealed road from Darwin Port, which gives the operation direct access to export infrastructure for its hard-rock lithium ore.

The ore from Finniss is destined for battery manufacturing – specifically for electric vehicles and energy storage applications. Beyond Finniss, $CXO holds a spread of exploration projects across the Northern Territory and South Australia, including Shoobridge Lithium, the Anningie and Barrow Creek licences covering roughly 2,000 square kilometres, and the Yerelina and Mt Freeling projects.

9. Wildcat Resources Limited ($WC8)

Wildcat Resources Limited (WC8) share price over the last year: started at A$0.19, ended at A$0.40, a change of +110.5%. Range over the period: high A$0.66, low A$0.17. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.40 · Daily: 3.9% · Market cap: $552.7M · Sector: Basic Materials · Industry: Metals & Mining

Wildcat Resources Limited ($WC8) is an exploration company, which means its business is finding mineral deposits rather than producing them. Its flagship asset is the Tabba Tabba Lithium-Tantalum Project in the Pilbara region of Western Australia, sitting on granted Mining Leases about 80km by road from the Port Hedland export hub. The project's location puts it close to two established hard-rock lithium operations: Pilbara Minerals' Pilgangoora Project and Mineral Resources' Wodgina Project.

Beyond Tabba Tabba, $WC8 holds additional ground through the Bolt Cutter Gold and Lithium Project, which covers 913 km² of the Mallina Basin across six granted exploration licences and 14 licence applications. The company also holds the Mt Adrah Gold Project in New South Wales, a 493 km² package along the Gilmore Suture Zone in the Lachlan Fold Belt. Early-stage tenements and applications in Western Australia round out the portfolio. Because $WC8 is at the exploration stage, it carries the risks typical of pre-revenue mining companies – resource definition, permitting, and funding all remain ahead of it.

Common questions

How do I invest in ASX lithium stocks in Australia?

Every company in this list trades on the ASX, so shares can be bought through any share trading platform during ASX trading hours – you search by ticker and place an order. Settlement in Australia goes through CHESS (Clearing House Electronic Subregister System). Another route is an ASX-listed ETF holding a diversified basket of resources or mining stocks, which can spread exposure across multiple companies at once, though how much of that basket is weighted toward lithium depends on the individual ETF's methodology.

What are the key risks of ASX lithium stocks?

Lithium prices are the most direct risk – producer revenues move with the commodity price, which can swing sharply. Companies still in exploration or development face an additional layer of uncertainty: projects can hit funding gaps, permitting delays or technical setbacks that prevent them from ever reaching production. Even operating mines carry geological, cost and logistical risk. For companies with projects outside Australia – $ASN in Utah and $VUL in Germany – movements in the Australian dollar against foreign currencies add further financial exposure.

What's the difference between pure-play lithium exposure and a diversified miner?

Some companies here – $RIO and $MIN, for example – generate substantial revenue from iron ore, copper, mining services and other commodities, with lithium sitting as one part of a larger portfolio. Others, like $PLS and $LTR, run operations where lithium is the central business, making their financial results more directly tied to where the lithium price sits. A diversified miner may be able to absorb weakness in one commodity through strength in another; a focused lithium producer generally can't.

What drives the lithium price?

The lithium price is shaped by supply from mining operations globally and demand from battery manufacturers, particularly those producing cells for electric vehicles and energy storage. Unlike commodities traded on a centralised exchange with a live spot price, much lithium is sold under contracts negotiated directly between producers and buyers – which can make price moves slower to register and harder to monitor in real time. For producers in this list, price changes flow through to revenue relatively directly. For explorers and developers, price movements tend to influence how the market values future project economics.

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.

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