CXO, AGY, YAL: Three best performing ASX All Ords mining shares in FY22

The fiscal year 2022 has come to an end. The year witnessed geopolitical tensions, a rise in inflation and interest rates and supply chain disruptions due to the COVID-19 pandemic. While the ASX All Ordinaries witnessed a 4.5% rise in the first half (from 30 June 2021 to 4 January 2022), the index fell 11.05% during the second half (as of 30 June 2022).

However, Australian mining shares had a different story and finished with significant gains. ASX mining shares (the materials segment) constitute nearly 22.5% of the All Ordinaries index. These shares were mainly boosted by a steep rise in commodity prices during the given fiscal period.

On this note, let’s discuss the three best performing ASX All Ordinaries mining shares in FY22.

Core Lithium Ltd (ASX:CXO)

Core Lithium is focused on the discovery and exploration of mineral deposits in the Northern Territory and South Australia. In FY22, shares of Core Lithium have given a return of 306.4%.

The share price of Core Lithium has mainly jumped on account of a significant surge in prices of lithium, copper and uranium. Lithium carbonate recorded a year-on-year gain of over 430%. Demand for lithium rose on account of relaxations in COVID-19 restrictions, which boosted global electric vehicle (EV) manufacturers.

Argosy Minerals Ltd (ASX:AGY)

Argosy Minerals operates in the metals and mining sector. In FY22, shares of Argosy Minerals have given a return of 260%.

The share price of Argosy Minerals also rose on account of a sharp increase in lithium prices in FY22. Recently, the miner carried out an inspection of its flagship asset Rincon project as total works for the processing plant is near completion.

Yancoal Australia Ltd (ASX:YAL)

Yancoal is a pure play coal producer. In FY22, shares of Yancoal have given a return of 172.4%.

The share price of of the company surged after coal prices hit record highs following Russia’s Ukraine invasion. Not only Yancoal but also other ASX-listed coal shares rose during the fiscal. Yancoal’s share price also got a major boost recently after the coal producer’s independent board committee rejected the takeover bid from Yankuang Energy.