With many of the world’s leading mining experts in Toronto for the annual Prospector’s & Developers Association of Canada Conference (PDAC), TSX Group and Standard & Poor’s, the leading global provider of independent research, ratings and indices, today announced plans to create the S&P/TSX* Global Mining Index.
"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, Toronto Stock Exchange. "There is great value for mining issuers in a TSX listing. Mining issuers that list here tap into deep capital pools and extensive mining expertise from analysts, professional advisors like lawyers and engineers, investment bankers, to investors.” He added, the launch of the S&P/TSx Global Mining Index further enhances our position as the global mining exchange.”
TSX Group’s exchanges are home to approximately 60% of the world's public mining companies and Canada has the world's largest mining analyst community that covers issuers on both Toronto Stock Exchange and TSX Venture Exchange.
Similar to the S&P/TSX Global Gold Index but with a broader scope in terms of the types of miners to be included, the Global Mining Index will track leading international mining issuers. The exposure to this index will help further recognize the value of listing on Toronto Stock Exchange. In addition to bringing additional liquidity to mining listed issuers, it is expected structured products will also be created to serve investors in the markets.
Further details and a list of issuers to be included in the new index will be released by Standard & Poor’s prior to an expected launch in June 2007.
“With commodity prices strong and increased interest in this asset class, realtime information on global mining issues is critical,” said Steve Rive, Vice- President of Canadian Index Operations at Standard & Poor’s. “Building on the success so far of the S&P/TSX Global Gold Index, we believe the S&P/TSX Global Mining Index will be a broad representative of opportunities available in the global mining marketplace.”
Mining companies from around the globe continue to come to TSX Group exchanges. In 2006, a total of 112 new mining companies listed on the exchanges. In aggregate, these new listings represented $15 billion in market capitalization.
The TSX's mining sector is home to 1274 listed mining companies with a quoted market value of over $322 billion.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving
the public venture equity market, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country's first fixed income interdealer
broker. TSX are the initials attached to the core equity operations of TSX
Group (www.tsx.com): Toronto Stock Exchange, TSX Venture Exchange, TSX
Markets, TSX Datalinx, and TSX Technologies. TSX Group is headquartered in
Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is
the world's foremost provider of financial market intelligence, including
independent credit ratings, indices, risk evaluation, investment research and
data. With approximately 8,500 employees, including wholly owned affiliates,
located in 21 countries. Standard & Poor's is an essential part of the world's
financial infrastructure and has played a leading role for more than 140 years in
providing investors with the independent benchmarks they need to feel more
confident about their investment and financial decisions. For more information,
visit http://www.standardandpoors.com.
