Finding the best mining stocks isn’t easy. Unlike other sectors, like tech stocks, most retail traders have a limited understanding success factors for a mining stock company. Types of mineral or material mined, debt management, and global market demand all drive analyst assessments of the best mining stocks on the market. 

But, like the mines themselves, some due diligence and careful digging can yield investment gold. Striking pay dirt isn’t always easy. Finding the best mining stocks for a particular mineral, geographic location, and supported sector demands hard work and toil.

But you’re in luck. I ran the numbers for you in an effort to find the best mining stocks on the market today. These seven mining stocks are among the top companies digging their way to greatness and could be a gem for your diversified portfolio.

Albemarle (ALB)

Albemarle (NYSE:ALB) is the top mining stock on the market today. Albemarle is the world’s largest lithium producer, an element crucial to electric vehicle (EV) battery development. Its dominant industry position and growing demand for EVs alone make this mining stock a safe bet for long-term gains.

The stock has fallen on tough times recently, and shares are down almost 25% since January. For bargain hunters, this makes ALB’s pricing perfect for an entry position. Global lithium battery demand, beyond just EV-based applications, will grow 27% annually through 2030, according to consulting firm McKinsey. The same report projects revenue to expand 5x or more over the same period. ALB is already beating the projected expansion, as its revenue growth stands at a solid 10.30% average over the preceding ten years.

Finally, Albermarle is positioned to capture the best EV opportunity in the world – China. McKinsey estimates that Chinese demand will account for nearly 50% of all lithium by 2025. Albemarle agrees, and projects that China’s EV market will hit 40% by the end of the year, despite slashed subsidies. Thus, the company’s primary refining capabilities lie in Chinese plants. Geographic co-location makes Albemarle an easy pick for lithium sourcing as Chinese EV capacities expand. It perfectly positions this mining company among the top stocks to capture sustainability sentiment and a growing global market.

Vale SA (VALE)

Vale SA (NYSE:VALE) is another top mining stock for EV enthusiasts, but it is priced much lower for investors on a budget. Among other minerals and metals, Vale mines nickel. Nickel is a key EV battery component, and Vale’s smaller size makes it an ideal partner for larger EV manufacturing firms.

Starting in 2026, Vale will begin a strategic partnership with General Motors (NYSE:GM). The partnership will ensure a steady nickel supply for GM’s EV production plans, a key step for the firm as they begin developing infrastructure for upcoming battery plants. The deal will put enough nickel in GM’s hands to produce as many as 350,000 EVs annually. 

Further, GM expects 2025’s projected production capacity to fall below previous lofty expectations, primarily due to battery availability. Vale’s assistance will come at an opportune time for GM as they begin full battery production. The partnership and nationally-growing EV emphasis bode well for this mining stock’s future. 

If that news isn’t enough to turn you bullish, remember that Vale also enjoys strategic partnerships with Tesla (NASDAQ:TSLA) and Ford (NYSE:F). Vale is a fixture for EV manufacturers, and its central position makes it indispensable for car companies and mining stock investors alike.

Barrick Gold (GOLD)

Last year, Barrick Gold (NYSE:GOLD) produced more than 4 million ounces of gold and has two decades of gold remaining in its mines. Coupled with a hefty copper production capacity, it’s enough to ensure Barrick’s longevity as one of the top mining stocks to diversify your metals portfolio.

Furthermore, Barrick’s expanding operations extend its production capacity. Last week, Barrick got the go-ahead to restart mining operations in Papua New Guinea after a three-year pause. This mine wasn’t included in Barrick’s recent Q3 report, which stood on its own strength despite the exclusion. Gold sales beat the previous quarter’s stats by about 1%, and copper sales rose nearly 11%. 

Of course, as an end-to-end gold mining company, Barrick is sensitive to global gold pricing. But the hot commodity’s per-ounce pricing is up 60% over the past five years and 8% since January. Gold is a great way to diversify your portfolio. Still, if you aren’t comfortable holding gold bars at home, this top mining stock is a perfect alternative to capture commodity pricing. 

BHP Group (BHP)

BHP Group (NYSE:BHP) is a top mining stock with the advantage of boasting a massive dividend yield.

Mining companies prefer using cash reserves to expand operations or generate greater production capacity. But BHP’s operational arms already span the globe, and the firm’s mining interests include coal, nickel, copper, and iron. With limited expansion opportunities, BHP elects to return value to shareholders. The stock yields nearly 9% on a forward basis, fantastic returns in today’s age of increased fixed-income yield. 

Beyond its dividend and operational reach, BHP’s financial management systems are beyond reproach. The capital-intensive industry usually forces companies to assume substantial debt. However, BHP carries a 0.52 debt-to-equity ratio. A low debt load helps BHP protect itself against global commodity pricing swings. Likewise, its diversified mining assets further protect from specific risks in the mining sector.

For big-picture mining investments, BHP is one of the best mining stocks to satisfy an investor’s diversification demands rather than targeted industry bets like lithium, nickel, or gold. 

Rio Tinto (RTNTF)

Rio Tinto (OTCMKTS:RTNTF) is one mining stock perfectly positioned to capture global net-zero initiatives. The top metals needed to support the global transition – iron ore, aluminum, and copper – are Rio Tinto’s primary focus.

In July, the company’s half-year report posted $9.8 billion EBITDA for iron ore, $1.1 billion for aluminum, and $1.1 billion for copper. Earnings of this magnitude point to Rio Tinto’s underlying strength and position in the net-zero economy, as demand will only continue climbing. 

And like BHP, Rio Tinto’s expansive operations and abundant cash reserves are a boon to income investors. The stock’s trailing yield stands at 8.02%. Between a bright future fueled by net-zero metals demand and a healthy cash management system, Rio Tinto is a top mining stock to bet broadly on a sustainable future. 

Riot Platforms (RIOT)

Riot Platforms (NASDAQ:RIOT) is unique because it doesn’t mine physical metals. Instead, Riot is one of the largest Bitcoin (BTC-USD) mining companies in the world.

The stock’s price is prone to Bitcoin fluctuations, of course, but this makes Riot an ideal mining stock alternative to buying Bitcoin itself. Whether an investor is nervous, unfamiliar with the tech, or simply wants Riot’s non-Bitcoin assets to reinforce its valuation, Riot is a viable alternative to direct crypto investing.

True to firm, Riot’s balance sheet beyond Bitcoin is healthy. The company has zero debt and holds $289 million in cash alongside over $220 million in digital assets. The same report indicates that Riot expects mining capacity to accelerate, growing 76% by 2025. Assuming Bitcoin simply holds steady in its price, rapid capacity expansion will boost Riot shareholders substantially. If recent trends continue, though (Bitcoin is up 68% since January), Riot might become the top mining stock to own, digital or otherwise. 

Teck Resources (TECK)

Teck Resources (NYSE:TECK) is another diversified top mining stock, but its powerful potential lays in its coal mining operations. Steelmaking coal demand is far beyond current capacity, and 72% of global steel production requires coal. And that’s a demand Teck is perfectly positioned to capture. 

Third-quarter production hit 5.2 million tons, below the company’s internal estimates. But that seeming miss wasn’t due to demand. Instead, the risk posed by fires, labor strikes, and general supply chain crunches put a crimp on Teck’s operations. As demand continues climbing and Teck works through these challenges, it’s poised to unleash much-needed supply to hungry steelmakers across the globe. 

Coal pricing is nearing pre-pandemic lows, representing a risk to Teck. But, at the same time, steel markets are expected to grow steadily through 2030. While Teck might not be a ten-bagger mining stock play, these two factors combine to make it a steady staple in a diversified portfolio. 

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.