# ASX 200 mining shares were the worst hit by the Iran war last month.

*business · news · 2026-04-09 · The Motley Fool Australia*

## Key points

- The S&P/ASX 200 Materials Index fell 21% during the Iran war but rebounded 18% afterward.
- BHP shares dropped from a record $59.39 to $46.06 during the Iran conflict before recovering.
- Capstone Copper is one of few pure play copper stocks on the ASX, with 97% annual growth.
- South32 placed its Mozambique aluminium smelter into care and maintenance last month.
- South32's Cannington mine increased underground ore reserves by 28% amid strong copper and zinc output.

**Companies:** BHP Group Ltd, South32 Ltd, Capstone Copper Corp CDI
**Countries:** Australia, Iran, Mozambique

[Read the full story on The Motley Fool Australia](https://www.fool.com.au/2026/04/10/buy-hold-or-sell-south32-capstone-copper-and-bhp-shares/)

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