The Investing News Network presents its weekly roundup of the best-performing mining stocks on the ASX, kicking off with updates from Australia's resource sector.

This week's top performers were dominated by critical minerals and precious metals companies, with a focus on germanium, lithium, rare earth elements, and gold.

In industry news, Predictive Discovery (ASX:PDI) and Robex Resources (ASX:RXR,TSXV:RBX,OTC Pink:RSRBF) announced a merger of equals, forming a new mid-tier gold producer in West Africa. Their projects, Bankan and Kiniero, located within a 30-kilometer radius in Guinea, are projected to surpass a combined production of 400,000 ounces of gold annually by 2029.

Furthermore, a report from the Australian Resources and Energy Employer Association forecasts a significant increase in employment within Australia's mining and energy sectors by 2030, detailing 96 projects expected to generate over 22,000 jobs in the coming years.

In the cryptocurrency sphere, Australia made noteworthy progress this week with the Treasury's release of a draft bill to regulate cryptocurrency exchanges. The proposed legislation aims to bring crypto platforms under the Australian Financial Services Licence (AFSL) framework, forming part of Australia's broader digital asset strategy.

Market and Commodity Price Overview

The S&P/ASX 200 (INDEXASX:XJO) opened at 9,013.10 on Monday (October 6) and closed at 8,969.80 on Thursday (October 9), declining 0.48 percent over the week.

Gold finished the week robustly, rising 3.57 percent from US$3,886.98 on Monday to US$4,025.88 by Thursday, establishing new price records. In Australian dollars, the precious metal experienced a more substantial increase of 4.02 percent, moving from AU$5,886.91 to AU$6,123.34.

Silver also recorded notable gains, climbing 1.94 percent in US dollars, beginning the week at US$47.98 and ending at US$48.91 on Thursday. In Australian dollars, silver demonstrated a strong 2.37 percent uptick, advancing from AU$72.67 to AU$74.39.

Top ASX Mining Stocks This Week

How did ASX mining stocks perform against this backdrop?

Below, the Investing News Network examines this week's five top-performing Australian mining stocks, providing insights into their operations and the factors behind their recent upswings.

Stock data for this article was retrieved at 4:00 p.m. AEST on Thursday, October 9, using TradingView's stock screener and reflects price movements between Monday and Thursday. Only companies listed on the ASX with market capitalizations exceeding AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry, and producer manufacturing sectors were considered.

1. Battery Age Minerals (ASX:BM8)

Weekly gain: 119.39 percent
Market cap: AU$30.92 million
Share price: AU$0.215

Battery Age Minerals, based in Perth, is a battery minerals developer with projects in Austria and Canada. Its flagship asset is the Bleiberg zinc-lead-germanium project in Austria, notable for its high-grade germanium deposits.

In January 2025, the company expanded into precious metals by entering a farm-in agreement to acquire 80 to 100 percent of the El Aguila gold-silver project in Argentina.

The company's shares surged at the start of the week, closing at AU$0.155 on Monday, a 58 percent increase from its previous close of AU$0.098.

In response to an ASX price query on Tuesday (October 7), Battery Age Minerals attributed the jump to recent external publications. On October 2, Fawkes Capital Management released a research note highlighting the company's potential due to germanium market dynamics, noting limited supply outside China, which has banned exports. According to Fawkes, the Bleiberg project hosts "one of the highest-grade known germanium deposits in the Western world, outside of China and Russia."

The Fawkes report was also published as an article on LiveWire on Monday, coinciding with the share price spike.

Battery Age Minerals' shares reached their peak this week on Thursday, closing at AU$0.215.

2. European Lithium (ASX:EUR)

Weekly gain: 77.27 percent
Market cap: AU$240.31 million
Share price: AU$0.195

European Lithium, headquartered in Western Australia, is an explorer and developer with a portfolio including the Leinster lithium project in Ireland and equity stakes in various resource companies. Its largest holding is a 60 percent stake in its spin-off subsidiary Critical Metals (NASDAQ:CRML), which is advancing the Wolfsberg lithium project in Austria and the Tanbreez rare earth project in Greenland towards production.

The company made two announcements this week. First, it sold 3 million shares of Critical Metals to a single US institutional investor at US$7 per share, totaling US$21 million.

Two days later, its subsidiary entered a multi-year offtake agreement with REalloys, a private US rare earth refining company. The update, released on Thursday, detailed that Critical Metals is expected to supply up to 6.75 million tonnes of REE concentrate from its Tanbreez project, approximately 15 percent of its planned production.

European Lithium's shares jumped on Monday, closing at AU$0.25, amid speculative but unconfirmed reports of potential US Trump Administration interest in investing in Critical Metals.

3. G50 (ASX:G50)

Weekly gain: 57.53 percent
Market cap: AU$98.54 million
Share price: AU$0.575

G50, established in 2020 and based in North Sydney, is a gold explorer focused on projects in Arizona and Nevada, USA.

In late September, G50 reported high antimony grades from drilling at its White Caps gold project in Nevada.

The company began October by announcing the exercise of its option to fully acquire the Golconda project in Northwestern Arizona. Located in the Wallapai Gold District, Golconda was once Arizona's largest zinc and lead mine.

According to the October 1 release, drilling at the project is set to commence following the transaction and will likely extend into 2026. G50 previously made a gold-silver-zinc discovery at the project during its 2025 drill program.

Despite no further announcements after the Golconda project acquisition, G50's shares spiked on Thursday, peaking at an AU$0.575 close.

As of writing, no comments or inquiries regarding the share price surge have been made.

4. Hastings Technology Metals (ASX:HAS)

Weekly gain: 52.86 percent
Market cap: AU$118.3 million
Share price: AU$0.535

Hastings Technology Metals is a rare earth elements (REE) producer focusing on developing its advanced-stage Yangibana project in Western Australia. Initial production is anticipated in late 2026.

This week, the company experienced a rise in share price despite no October releases, drawing the attention of the ASX.

In a Wednesday response to the ASX's price query, Hastings stated that it has no pending and undisclosed announcements, suggesting that the price surge may be related to developments reported in late September.

On September 22, Hastings announced the formalization of its Yangibana REE-niobium project joint venture with private mining company Wyloo, initially announced in February 2025. Previously the sole owner, Hastings now holds a 40 percent participating interest in the joint venture, while Wyloo holds 60 percent and will serve as project operator. This agreement results in the cancellation of Hastings' debt to Wyloo.

Subsequently, on September 29, Hastings revealed plans to divest its gold assets in Western Australia, namely the Whiteheads, Ark, and Darcy projects, to Metal Bank (ASX:MBK). The company also noted its participation in the Australian Trade and Investment Commission's 2025 US Critical Minerals Delegation, which met with US Government officials in Washington.

Hastings' shares closed at AU$0.545 on Wednesday and AU$0.535 on Thursday.

5. Superior Resources (ASX:SPQ)

Weekly gain: 50 percent
Market cap: AU$21.34 million
Share price: AU$0.012

Queensland-based Superior Resources specializes in discovering polymetallic deposits with base and precious metals across Australia's renowned mineral-rich regions.

Its flagship Greenvale project encompasses a large land package in the Lucky Creek Corridor of North Queensland. According to September updates, Greenvale has expanded by at least 56 percent to cover 3,602 square kilometers, making Superior the largest landholder in the region.

Greenvale is a multi-resource asset with diverse mineralization across its deposits, including gold, copper, molybdenum, and nickel. In mid-September, rock chip samples from its Halls Reward and Telegraph copper-gold prospects at Greenvale yielded high grades, with one from Halls Reward grading 46.5 percent copper, 6.58 g/t gold, and 24.5 g/t silver.

Superior Resources is another top gainer without October news releases. The company's share price surged from AU$0.09 to as high as AU$0.14 during Thursday trading, prompting the ASX to halt trading in the early afternoon.

Trading is expected to resume following Superior's response to an ASX price query, or on Monday, October 13, whichever comes first.

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