Mining magnate Nathan Tinkler’s Aston Resources is now one of Australia’s 200 largest companies.
This comes despite Aston’s main resource, the Maules Creek mine, still waiting on approvals, the Newcastle Herald has reported.
On Friday, the coal miner was added to the S&P/ASX 200 list, which is adjusted only four times every year.
Aston has a market cap of approximately $1.97 billion, which is comprised of around 204.53 million shares worth $9.61 each.
The miner saw a drop of nearly 20 cents of its share price this morning from yesterday’s trading, but has begun to recover.
Tinkler acquired Maules Creek early last year from Rio Tinto for approximately $480 million.
He listed the company mid last year.
Currently, Tinkler is working towards the construction of additional coal loaders in Newcastle.