As I mentioned last week, at the end of December 2010 Bloomberg launched its Rare Earth Mineral Resources Index. This is a “modified market capitalization weighted index” comprising publicly-traded companies with advanced rare-earth projects.
The primary criterion for inclusion in the Index is that a company has a rare-earth project with a defined 43-101- or JORC-compliant mineral resource. The Index will be updated and re-weighted on a quarterly basis, so that companies with new mineral-resource definitions will be eligible for inclusion.
In the first iteration of the Index, Bloomberg chose the following companies and weightings:
|Company||Ticker Symbols||Weighting (%)|
|Lynas Corporation Ltd.||ASX:LYC, PK:LYSCF||15.0|
|Avalon Rare Metals Inc.||TSX:AVL, AMEX:AVL||11.4|
|Rare Element Resources Ltd.||TSX.V:RES, AMEX:REE||11.2|
|Arafura Resources Ltd.||ASX:ARU, PK:ARAFF||10.0|
|Greenland Minerals and Energy Ltd.||ASX:GGG, PK:GDLNF||6.7|
|Quest Rare Minerals Ltd.||TSX.V:QRM, PK:QSURD||6.3|
|Frontier Rare Earths Ltd.||TSX:FRO||5.9|
|Alkane Resources Ltd.||ASX:ALK, PK:ALKEF||5.0|
|Tasman Metals Ltd.||TSX.V:TSM, PK:TASXF, F:T61||4.6|
|Great Western Minerals Group Ltd.||TSX.V:GWG, OTCBB:GWMGF||4.2|
|Navigator Resources Limited||ASX:NAV||2.1|
|Matamec Explorations Inc.||TSX.V:MAT, PK:MTCEF||1.2|
Subscribers to the Bloomberg information service can track the Index via its ticker symbol
BNREMS BNREMRS. We’ll update the above list periodically, as and when Bloomberg makes changes to its composition. In the meantime, you can see the latest data for the Index, on its Web page.