Top 5 Australian Mining Stocks This Week: Energy Transition Minerals Leads With Greenland Rare Earths

Market and commodities price round-up

The S&P/ASX 200 (INDEXASX:XJO) opened at 8,731.40 on Monday (January 5) and closed at 8,720.80 on Thursday (January 8), reflecting a 0.12 percent decrease over the period.

Gold and silver continued to shine this week. The gold price increased 2.15 percent from US$4,332.66 on Monday to US$4,426.02 by the close of Australian stock markets Thursday. In Australian dollars, gold saw a similar rise, moving from AU$6,472.22 to AU$6,604.08, a 2.04 percent increase.

The silver price posted even more significant gains during the week. It climbed 5.67 percent in US dollars, starting the week at US$72.86 and closing at US$76.99. In Australian dollars, the jump was once again close, up 5.55 percent from AU$108.83 to AU$114.87.

Top ASX mining stocks this week

How did ASX mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Australian mining stocks below as the Investing News Network breaks down their operations and why these companies are up this week.

Stocks data for this article was retrieved at 4:10 p.m. ADST on Thursday using TradingView's stock screener and reflects price movements between Monday and Thursday. Only companies trading on the ASX with market capitalisations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Energy Transition Minerals (ASX:ETM)

Weekly gain: 68.42 percent
Market cap: AU$198.18 million
Share price: AU$0.16

Energy Transition Minerals is a critical minerals explorer and developer company based in Perth, Western Australia.

It is the owner of the Kvanefjeld rare earth elements project in Greenland, which holds potential to be among the world’s most significant western producers of critical rare earth minerals and also holds a significant uranium resource. The project was halted following the Greenland Uranium Act in 2021 banning uranium exploration and mining due to environmental concerns.

For several years, Energy Transition Minerals has been fighting to claim that it has a right to an exploitation licence for the Kvanefjeld project following extensive technical and environmental assessments and over a decade of investment in it. The company provided the most recent update on the case in December.

While no updates have been shared by ETM in January, the company announced it is working towards a Nasdaq listing on December 29, which may be driving investor interest.

US-based advisors have already been appointed to commence the process of seeking the said listing.

“(We believe) that the Nasdaq listing would provide ETM with access to deep US capital markets, enhanced liquidity and strategic alignment with Western critical minerals supply chain priorities,” the company said in the announcement.

Shares of Energy Transition Minerals jumped from a Monday close of AU$0.110 on Monday to a weekly high of AU$0.160 upon Thursday’s close.

2. European Lithium (ASX:EUR)

Weekly gain: 54.84 percent
Market cap: AU$309.03 million
Share price: AU$0.240

Also based in Western Australia, European Lithium is a mining explorer and developer that aims to be “the first local lithium supplier into an integrated European battery supply chain.” The company’s lithium portfolio includes projects in Austria, Ireland and Ukraine.

In early 2024, the company spun out its Wolfsberg lithium project in Austria into the public company Critical Metals (NASDAQ:CRML), in which European Lithium currently holds a 44.98 percent stake. The company sold portions of its shares during 2025 to raise over AU$180 million in total funds as Critical Metals’ share price climbed.

Wolfsberg is expected to produce an average of 10,130 tonnes of lithium hydroxide per year over a 10 year mine life and is well-positioned with offtake and downstream partners.

Critical Metals has since acquired a 42 percent ownership stake in the Tanbreez rare earths project in Greenland, with the right to increase it to 92.5 percent; European Lithium holds 7.5 percent.

Critical Metals announced on Wednesday (January 7) that it has received approval to begin construction for a pilot plant facility at Tanbreez, which will support the project’s advancement.

Shares of European Lithium were the highest this week on Thursday at AU$0.240, jumping from Monday’s close of AU$0.180.

3. Bayan Mining and Minerals (ASX:BMM)

Weekly gain: 50.54 percent
Market cap: AU$13.1 million
Share price: AU$0.140

Another lithium company in this week’s list is Bayan Mining and Minerals, an explorer focused on Canadian lithium assets as well as silver and gold projects in Nevada, US.

In Canada, Bayan holds a portfolio of projects in the Georgia Lake pegmatite district of Ontario, including the Arrel lithium project. It also holds the Corvette North and Corvette Northwest projects in Québec.

This week, the company issued two important releases.

On Monday, Bayan announced it submitted a notice of intent for maiden drilling at Bayan Springs South, Nevada, to the US Forest Service. As part of advancing the project, it said it engaged geologist Charles Weakly as a senior geological consultant due to his experience with Carlin-style gold systems.

Then, on Wednesday, the company revealed that it has appointed a new chief executive officer.

“Mr. (Nathan) Kong brings over 17 years’ experience across mine planning, technical studies, reserve reporting and project evaluation with tier-one operators including Rio Tinto Iron Ore, Gold Fields and Iluka Resources,” Bayan wrote, adding that Kong will take over on January 27.

Shares of Bayan trended upwards through the week from a Monday close of AU$0.097 to AU$0.140 Thursday.

4. Patagonia Lithium (ASX:PL3)

Weekly gain: 44.07 percent
Market cap: AU$11.46 million
Share price: AU$0.085

Patagonia Lithium is a junior explorer focused on the Lithium Triangle in Argentina’s Salta and Jujuy provinces, where it owns the Formentera, Cilon and Tomas III projects.

The company expanded its portfolio to Brazil in 2024, where it is exploring for ionic rare earth element clays, niobium, antimony and lithium in pegmatites.

On Tuesday (January 6), the company welcomed the year with a drilling update at its Formentera concession well in its flagship Formentera project in Coranzuli, Jujuy.

“We are making great progress at 335 meters with no well problems. The well will be conditioned on 6 January 2026 and a packer test may be taken prior to recommencing drilling at the 335 m level,” Executive Chairman Phillip Thomas shared. “To date, we have encountered sandy and clay layers, but the volume of brine in these layers has been very encouraging.”

Shares of the company went from a AU$0.063 close on Monday to a weekly high of AU$0.085 on Thursday.

5. Godolphin Resources (ASX:GRL)

Weekly gain: 40.74 percent
Market cap: AU$17.51 million
Share price: AU$0.038

Godolphin Resources is a critical minerals company headquartered in Brisbane, Australia.

Its flagship assets are the Lewis Ponds gold-silver-copper-zinc project and the Narraburra rare earth element project, both located in the Lachlan Fold Belt of New South Wales.

In mid-December, Godolphin announced a significant increase in the mineral resource estimate of Lewis Ponds, which now stands at a global resource of 17.52 million tonnes with an average of 1.12 grams per tonne (g/t) gold, 53.34 g/t silver, 2.06 percent zinc, 1.1 percent lead and 0.14 percent copper.

Days after, the company announced its induced polarisation (IP) geophysical survey at the project identified a substantial chargeability anomaly along strike of the main resource.

“Plans are underway for a drill program targeting the Eastern IP area, with operations scheduled to begin in Q1 CY2026,” the company detailed in its December 22 announcement.

While no company updates have been shared this January, Godolphin said at the time that it will be working towards a scoping study for Lewis Ponds “in the coming weeks.” Drillhole planning is also underway to test high-priority IP targets in the first quarter of the year.

This week, shares of Godolphin spiked at the start of trading Wednesday from their Tuesday close of AU$0.025, which seemed to coincide with the release of an analyst report on the company. They peaked at AU$0.038 on Thursday.