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S&P launches global base metals index
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25th June 2009
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TORONTO (miningweekly.com) – Index compiler Standard & Poor's (S&P) on Thursday launched its new S&P/TSX Global Base Metals Index, which aims to provide investors with an investable index of global securities involved in the production or extraction of base metals.

The new index is a subset of the existing S&P/TSX Global Mining Index, which provides investors with a broadly representative benchmark for global mining portfolios.

Eligible securities for the S&P/TSX Global Base Metals Index are classified under diversified metals and mining or aluminum.

The S&P/TSX Global Base Metals Index includes companies that mine industrial metals like aluminum, zinc, copper and nickel.

To be included in the index, a security’s float-adjusted market capitalisation must be at least $300-million, and it must meet certain liquidity requirements.

The top ten companies by weight included in the index are: Rio Tinto, Anglo American, Freeport McMoRan Copper & Gold, Vale, BHP Billiton (both Ltd and plc), Teck Resources, Alcoa, Southern Copper Corp and Aluminum Corp of China.

“The index complements the existing S&P/TSX resource based indices which includes the S&P/TSX Global Gold Index and the S&P/TSX Global Mining Index,” S&P said in a statement.

Edited by: Liezel Hill

 

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