TSX shows clout with new global index (March 19, 2007)

With about 60% of the world’s public mining companies listed in Canada, Standard & Poor’s and TSX Group have decided to create the S&P-TSX Global Mining Index.

The announcement was made during the annual Prospectors and Developers Association of Canada conference held in Toronto Mar. 4-7.

“Our exchanges have become the world’s leading markets for raising equity capital for mining and as a result we attract numerous international mining participants,” said Richard Nadeau, senior vice-president of the TSX.

The Global Mining Index will be launched in June. It will be similar to the Global Gold Index, which replaced the TSX Capped Gold Index in December, but with a broader scope of international mining companies.

“With commodity prices strong and increased interest in this asset class, real-time information on global mining issues is critical,” said Steve Rive, vice-president of Canadian index operations at Standard & Poor’s.

In 2006, 112 new mining companies listed on the TSX and TSX Venture Exchange, representing $15 billion in market capital. There are 1,274 mining companies listed with the TSX Group with a value of $322 billion.