S&P Indices has completed its quarterly shakeup of its stockmarket indices, with Perth-based mineral sands miner Iluka Resources being elevated into Australia’s top 50 companies.
Other Western Australia-based elevations included Mongolia-focused explorer Hunnu Coal, construction and contracting company Decmil Group, gold miner Focus Minerals, and Eritrea-focused potash hopeful South Boulder Mines, which were all admitted to the S&P/ASX300.
Perth-based uranium explorer Berkeley Resources, IT company ASG Group, Samson Oil and Gas and Nido Petroleum were all removed from the S&P/ASX300 to make way for new additions.
Nckel miner Mincor Resources slipped out of the S&P/ASX All Australian 200 Index.
Iluka's inclusion in the index for the country's top 50 stocks follows strong gains in its profits, helped by sharply higher commodity prices and the benefits of an efficiency drive led by managing director David Robb over recent years.