Classify Equity shares in Commodity company

SS11: Alternative Investments: Schweser Book 4: P 13: “Indirect investment in commodities is usually done thru investment in companies whose principal business is associated with commodities (e.g., investing in a metal via ownership of shares in a mining company).” So how do you classify shares in a mining company? An indirect alternative investment, or as equity? A seperate class unto its own? It could come up as part of an essay.

I tried once to put together an investment product that bought and sold commodities by hedging out equity exposure and buying commodity companies. Dismal failure. If that statement above is true, it’s not true for many commodities and it’s a wicked hard way of investing in a commodity. BTW - If you can do it, there would be real money interested insuch a product so don’t let me discourage you.