Big mining winners in ASX rebalance

LITHIUM companies and mining service providers were the biggest winners in the S&P Dow Jones Indices March quarter rebalance of S&P/ASX indices.
Big mining winners in ASX rebalance Big mining winners in ASX rebalance Big mining winners in ASX rebalance Big mining winners in ASX rebalance Big mining winners in ASX rebalance

Kristie Batten

Just two months out from its third birthday, South32 was admitted to the ASX 20, replacing QBE Insurance.

Ausdrill has joined the ASX 200 after doubling its share price in the past year. The mining services leader is now capitalised at just under A$1 billion.

Zinc developer New Century Resources was a notable addition to the ASX 300, going from nothing this time last year to a market cap of just under $600 million today.

Lithium players Altura Mining, Kidman Resources, and Global Geoscience also joined the ASX 300, as did resurgent contractors NRW Holdings and Emeco Holdings.

Alacer Gold, Highfield Resources and Silver Lake Resources were removed.

Heavily promoted lithium stocks AVZ Minerals and Argosy Minerals will join the All Ordinaries after plus-1000% gains over the past year, as will near-term lithium producer Tawana Resources.

Conglomerate gold stock Artemis Resources, turnaround gold producer Aurelia Metals, mineral sands producer Mineral Deposits, nickel-cobalt developer Australian Mines, rare earths player Hastings Technology Metals, coal company Bathurst Resources, bauxite miner Metro Mining, nickel developer Panoramic Resources, zinc developer Heron Resources, Mongolian explorer Xanadu Mines, potash player Danakali, and recapitalised Titan Minerals will also become part of the All Ords.

Recapitalised driller Boart Longyear also made the cut.

Blackham Resources, Millennium Minerals, Eastern Goldfields, Doray Minerals, CuDeco, Atrum Coal, Stanmore Coal, Peninsula Energy and Lucapa Diamond Company will be removed from the All Ords.

The changes take effect at the open of trading on March 19.