Copper prices reached all-time highs in March 2025. Analysts expect robust demand to continue in the short and long term. Sectors such as renewable energy and electric vehicles drive copper consumption significantly. Fastmarkets projects copper demand from energy transition sectors will grow at a CAGR of 10.7 percent to 2034. ASX-listed copper companies are responding strongly, with five stocks posting notable year-to-date gains.
Ausquest (ASX:AQD)
- Share price: $0.055
- Market cap: $74.2 million
- Year-to-date gain: 587.5%
Ausquest (ASX:AQD) gained 587.5 percent year-to-date with a market cap of $74.2 million. Its share price rose from $0.008 to $0.055 by early May. Ausquest focuses on copper-gold exploration in Peru and Australia. In Peru, it leads a major copper-gold discovery at the Cangallo project.
On January 23, Ausquest announced maiden drill results from Cangallo, with hole CANRC001 returning 348m at 0.26% copper and 0.06 ppm gold from 6m, including 26m at 0.36% copper and 0.07 ppm gold. The share price rose to $0.043 by January 28 and hit $0.057 on February 6 after further results confirmed the discovery’s significance. On March 5, the company announced Stage 2 drilling to begin in April, aiming to locate the porphyry centre and potential supergene blanket. Half-year results and updated exploration plans were released on March 11. Shares peaked at $0.61 on March 26.
Aurelia Metals (ASX:AMI)
- Share price: $0.28
- Market cap: $478 million
- Year-to-date gain: 66.18%
Aurelia Metals (ASX:AMI) posted a 66.18 percent year-to-date gain with a market cap of $478 million. Its share price rose to $0.28 by early May. The company operates three mines in New South Wales: Peak, Dargues, and Federation. It now focuses on developing the Great Cobar copper deposit.
The Great Cobar project lies north of the Peak mine complex. A 2022 prefeasibility study confirmed economic viability over five years. The project will deliver 47,000 tonnes of copper and 61,000 ounces of gold. In February, Aurelia reported H1 2025 results ending December 31. Underlying EBITDA rose 53 percent to $49.7 million. Net profit after tax surged 949 percent to $15.6 million. The company produced 1,900 tonnes of copper, more than double H1 2024 output. The share price peaked at $0.26 on March 20.
Magmatic Resources (ASX:MAG)
- Share price: $0.041
- Market cap: $17.1 million
- Year-to-date gain: 36.67%
Magmatic Resources (ASX:MAG) recorded a 36.67 percent gain year-to-date. It holds a market cap of $17.1 million and a share price of $0.041. The company explores copper-gold projects in New South Wales. It operates in the East Lachlan region, near Newmont’s Cadia East mine.
Magmatic has a joint venture with Fortescue subsidiary FMG Resources on the Myall project. Fortescue may earn 75 percent by investing $14 million. Fortescue also holds a 19.9 percent stake in Magmatic. On March 25, the company launched a 13-hole, 3,000-metre diamond drill program at Myall. Soil sampling continued at Wellington North and Parkes. The share price peaked at $0.059 on March 17, nearly doubling since January.
Belararox (ASX:BRX)
- Share price: $0.86
- Market cap: $34.5 million
- Year-to-date gain: 38.89%
Belararox (ASX:BRX) gained 38.89 percent year-to-date. The company holds a market cap of $34.55 million with a share price of $0.20. It explores copper at the TMT project in Argentina and the Kalahari project in Botswana.
In January, Belararox started drilling at TMT’s Tambo South target. The hole aimed for 1,300 metres, targeting porphyry copper mineralisation. In February, drilling also commenced at Malambo, with visible copper sulphides reported. On March 3, the company confirmed promising porphyry system indicators in drill cores.
On March 25, shares surged over 100 percent after the company reported significant copper mineralisation in Tambo South’s second drill core. Shares peaked at $0.31 the next day. On April 1, Belararox announced 20 new targets identified at Kalahari. Drilling will begin in July 2025.
Solstice Minerals (ASX:SLS)
- Share price: $0.19
- Market cap: $19.74 million
- Year-to-date gain: 22.75%
Solstice Minerals (ASX:SLS) gained 22.75 percent year-to-date. It has a market cap of $19.74 million with shares trading at $0.19. The company holds copper and gold projects in Western Australia. It recently acquired the Nanadie copper-gold project.
Nanadie hosts an inferred resource of 40.4 million tonnes at 0.4 percent copper and 0.1 g/t gold. It contains 162,000 tonnes of copper and 130,000 ounces of gold. Solstice completed the acquisition from Cyprium Metals in February. By March, the company progressed with geological reviews and drill re-logging.
Solstice sees expansion opportunities at Nanadie and plans Phase 1 drilling in early H2 2025. The share price reached $0.20 several times, most recently on March 31.
ASX Copper Stocks React to Strong Market Dynamics
The top ASX copper stocks outperformed in early 2025 amid high copper prices and strong sector demand. Exploration successes, project acquisitions, and production increases contributed to their gains. These companies remain active across Australia, South America, and Africa. Investors are closely watching upcoming drill results and development updates as copper demand continues to rise.
