Investors have dumped mining shares this year with a drumbeat of bad news weighing on sector, from weak Chinese data to a supply glut in some metals.
The Stoxx Europe 600 basic resources sector (SXXP) has fallen 26 percent from the peak in January and 46 percent over the last 24 months, losing out to the broader equity market which is up almost 5 percent year-to-date.
But amid the rout, some investors and analysts are now seeing plenty of opportunities.
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"The sell-off year to date has been really indiscriminat. You have got a lot of companies that have strong cash flows at lower prices that really look good value at the moment," Catherine Raw, portfolio manager on the natural resources equity team at BlackRock told CNBC on Friday.
She said dividend-paying mining companies were now looking very cheap.
Her pick of the sector at the moment is mid-cap copper stocks. "Copper looks the most interesting because you are seeing some of the supply side tightness showing signs of tightening the overall market. A number of big mines have had some real problems year-to-date, there has been scrap tightness and copper hasn't suffered on the demand side in the way we have seen in the other commodities," she said.