It is curious. The index methodology which the ETF tracks is...

It is curious. The index methodology which the ETF tracks is here (confirmed that the underlying index has also included WA1 as of May 1st). Presumably the committee considers Madura and/or the possibility of IOCG in West Arunta sufficient to satisfy criterion b) b. for the Selection Pool: "a company is expected to generate a significant part of its revenues in copper mining and/or closelyrelated activities (e.g. exploration or refining of copper) in the future". It seems Solactive, the index provider, and the ETF issuer, Mirae, work in close coordination, and I don't think the committee index inclusion and consequent large share purchase would have been done on a whim. Lastly, thought-provoking to see how a niche 2b USD AUM ETF taking a 50bps position in WA1 eats 1.6% of the share register. It will be an interesting period when other ETFs, particularly index trackers, need to build positions.