Global Materials Undervalued Small Caps

Tokai Carbon

Market Cap: JP¥211.0b

Manufactures and sells carbon-related products and services in Japan.

Fauji Cement

Market Cap: PK₨101.4b

Engages in the manufacturing and selling of various types of cement in Pakistan.

Deepak Fertilisers And Petrochemicals

Market Cap: ₹123.7b

Engages in the manufacture, trade, and sale of bulk chemicals in India.

Catalyst Metals

Market Cap: AU$1.8b

Engages in the mineral exploration and evaluation in Australia.

Atalaya Mining Copper

Market Cap: UK£1.4b

Engages in the mineral exploration and development in Spain.

Sylvamo

Market Cap: US$1.7b

Produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Europe, Latin America, and North America.

Aeris Resources

Market Cap: AU$568.7m

Explores, produces, and sells precious metals in Australia.

Tokuyama

Market Cap: JP¥285.1b

Produces and sells various chemical products in Japan.

Michelmersh Brick Holdings

Market Cap: UK£77.9m

Together its subsidiaries, manufactures and sells bricks and brick prefabricated products in the United Kingdom and rest of Europe.

CNMC Goldmine Holdings

Market Cap: S$741.7m

An investment holding company, engages in the exploration and mining of gold deposits in Malaysia.

Nippon Carbide Industries

Market Cap: JP¥26.6b

Engages in the electronic and functional products, and films and sheetings business in Japan, Asia, and internationally.

Surya Roshni

Market Cap: ₹46.0b

Manufactures and sells steel pipes and strips, and lighting and consumer durables in India.

Flügger group

Market Cap: DKK 992.2m

Designs, manufactures, and markets decorative paints, wood protection products, spackling pastes, and wallpaper and tools.

AGI Greenpac

Market Cap: ₹33.0b

Operates as a packaging products company in India and the United Arab Emirates.

Central Omega Resources

Market Cap: Rp4.0t

Engages in the mineral mining business in Indonesia.

Societe Tunisienne de Verreries

Market Cap: د.ت628.1m

Engages in the manufacture and marketing of glass and ancillary products in Tunisia and internationally.

Serabi Gold

Market Cap: UK£272.6m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

AltynGold

Market Cap: UK£373.1m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

Flotek Industries

Market Cap: US$519.8m

Operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally.

Hillgrove Resources

Market Cap: AU$146.8m

Engages in the operation, exploration, and development of mineral properties in Australia.

Pennar Industries

Market Cap: ₹19.4b

Operates as an engineering company in India and internationally.

Tharisa

Market Cap: R7.4b

An investment holding company, engages in the mining, processing, sale, and logistics of platinum group metals (PGMs) and chrome concentrates in South Africa, China, Singapore, Hong Kong, the United Arab Emirates, and internationally.

Central Asia Metals

Market Cap: UK£312.9m

Operates as a base metals producer.

Indian Metals and Ferro Alloys

Market Cap: ₹66.1b

Engages in the production and sale of ferro chrome in India and internationally.

Maple Leaf Cement Factory

Market Cap: PK₨84.4b

Produces and sells cement in Pakistan, Afghanistan, Maldives, Qatar, Sri Lanka, South Africa, Yemen, and Tanzania.

Macmahon Holdings

Market Cap: AU$1.4b

Provides surface mining, underground mining and mining support, and civil infrastructure services to mining companies in Australia and Southeast Asia.

Allied Supreme

Market Cap: NT$19.3b

Manufactures and sells fluoropolymer resin in China, America, and Taiwan.

Gränges

Market Cap: SEK 16.3b

Engages in the development, production, and distribution of rolled aluminum products for thermal management systems, specialty packaging, and niche applications in Asia Pacific, Europe, and North and South Americas.

Sylvania Platinum

Market Cap: UK£288.4m

Engages in the retreatment of platinum group metals (PGM) bearing chrome tailings materials in South Africa.

E.I.D.- Parry (India)

Market Cap: ₹146.8b

Engages in the manufacture and sale of sugar, nutraceuticals, and distillery products in India, North America, Europe, and internationally.

Asia CementLtd

Market Cap: ₩434.1b

Engages in the manufacture and sale of cement and ready-mixed concrete in South Korea.

Epigral

Market Cap: ₹38.3b

Manufactures and sells chlor-alkali and related derivatives in India and internationally.

BORETECH Resource Recovery Engineering

Market Cap: NT$3.2b

BORETECH Resource Recovery Engineering CO., LTD.

Suzhou Shihua New Material Technology

Market Cap: CN¥9.7b

Suzhou Shihua New Material Technology Co., Ltd.

Kingsgate Consolidated

Market Cap: AU$1.7b

Engages in the exploration, development, and mining of mineral properties.

Ora Banda Mining

Market Cap: AU$2.2b

Engages in the exploration, operation, and development of mineral properties and mining in Australia.