The time has come to say goodbye to the FTSE/JSE Gold Mining Index

JOHANNESBURG – THE JSE TERMINATED the FTSE/JSE Gold Mining Index in line with its move to international standards of classification as South African stocks delivered another quarter of double-digit growth in the first quarter of 2021.

Other sub-sectors to be decommissioned are the FTSE/JSE Coal Mining Index, the FTSE/JSE Diamonds & Gemstones Index, the FTSE/JSE Platinum & Precious Metals and the FTSE/JSE General Mining Index.

“Due to these sub-sectors not forming part of one sector anymore, FTSE/ JSE will decommission the five above mentioned ICB Sub-sector Indices following the implementation of the enhanced ICB structure,” said the JSE.

Commenting on the decommissioning of the indices, the deputy chairperson at Sasfin Securities, David Shapiro, said the Gold Index had always been the foundation of the JSE.

Shapiro said most gold mining companies had vanished and of the handful of existing companies, most of them were now operating outside of South Africa.