<WIRE> Australian Mining Stocks Reach Over 4-Month Low due to Slump in Iron Ore Prices; Shares of Core Lithium (ASX:CXO) and BHP Group (ASX:BHP) Fall

Australian mining stocks have fallen to their lowest level since October 24, representing a 0.8% drop.

The Dalian iron ore futures prices have hit a five-month low this Tuesday, with the deceleration attributed to weak sentiment and tepid demand from China, the leading consumer.

In particular, the shares of Core Lithium (ASX:CXO) fell as much as 9.1% subsequent to the company reporting disappointing results and a change in CEO.

Consequently, Core Lithium (ASX:CXO) ranked as the top loser in the mining sub-index, with shares plunging to their lowest level since February 15.

In addition to this, the shares of leading miner BHP Group (ASX:BHP) fell as much as 1.1% to their lowest level since June 1.

Overall, as of the last closing, mining stocks are approximately 13% down this year, in stark contrast to a 1.6% rise in the benchmark index.

Core Lithium (ASX:CXO) is an Australian company focused on lithium exploration and development.

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