Australian miners gain on higher iron ore prices; BHP, Rio Tinto scale record highs

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12/05/2026 01:52

** Shares of Australian miners .AXMM fall as much as 3.1%, hitting their lowest level since March 3

** Sub-index tracks iron ore prices higher, which gained on a raft of upbeat data from top consumer China IRONORE/

** Mining giants BHP Group BHP.AX and Rio Tinto RIO.AX both rose over 3%, hitting record highs

** PLS Group PLS.AX adds over 4%, while South32 S32.AX gains 3%

** AXMM up nearly 20% this year, including the day's move

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))