Heavyweight miners BHP Group BHP.AX and Fortescue Metals Group FMG.AX rose 1.5% and 1.2%, respectively, as iron ore and copper prices advanced. July 8 (Reuters) - Australian shares rose on Thursday, boosted by gains in mining and industrial stocks, as minutes from the last U.S. Federal Reserve meeting indicated that policy tightening might still take some time. Aiding sentiment, Wall Street indexes notched record closing highs overnight as Fed minutes showed officials felt substantial further progress on the economic recovery "was generally seen as not having yet been met," but agreed to act if inflation or other risks increased.