Global Materials Healthy potentially undervalued

Teijin

Market Cap: JP¥330.1b

Engages in the fibers, films and sheets, composites, healthcare, and IT businesses in Japan and internationally.

Greatland Resources

Market Cap: AU$7.2b

Operates as a gold and copper mining company.

Orora

Market Cap: AU$1.8b

Designs, manufactures, and supplies packaging products and services in Australia, New Zealand, the United States, and internationally.

Lenzing

Market Cap: €973.2m

Produces and markets regenerated cellulosic fibers for textiles and nonwovens.

Hangzhou Oxygen Plant Group

Market Cap: CN¥22.8b

Manufactures and sells air separation equipment, cryogenic petrochemical equipment, and various gas products in China and internationally.

Dongyue Group

Market Cap: HK$22.3b

An investment holding company, manufactures, distributes, and sells polymers, organic silicone, refrigerants, dichloromethane, liquid alkali, and other products in the People's Republic of China and internationally.

Solvay

Market Cap: €2.8b

Provides basic and performance chemicals worldwide.

Tharisa

Market Cap: R7.3b

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.

Kolon Industries

Market Cap: ₩1.7t

Engages in industrial materials, chemicals, films/electronic materials, and fashion businesses in South Korea and internationally.

Yongxing Special Materials TechnologyLtd

Market Cap: CN¥24.3b

Engages in the development, production, and sale of stainless steel rods and wires, special alloy materials, and lithium battery materials in China and internationally.

Kansai Paint

Market Cap: JP¥475.5b

Manufactures and sells paints and coatings in Japan, India, China, Asia, Africa, Europe, and internationally.

Shandong Gold Mining

Market Cap: CN¥116.3b

Engages in mining, smelting, processing, and precious metals in the People’s Republic of China.

Mitsubishi Gas Chemical Company

Market Cap: JP¥891.3b

Manufactures and sells basic and fine chemicals, and functional materials in Japan.

U.S. Gold

Market Cap: US$232.0m

Engages in the exploration, evaluation, and development of mineral properties in the United States.

Meridian Mining

Market Cap: CA$723.4m

Engages in the acquisition, exploration, and development of mineral properties in Brazil.

CPH Group

Market Cap: CHF 348.9m

Develops, manufactures, and distributes chemical products and packaging solutions for pharmaceutical customers in Europe, Asia, and North and South America.

West Fraser Timber

Market Cap: CA$7.4b

A diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, northern bleached softwood kraft pulp, newsprint, paper, wood chips and other residuals.

Forterra

Market Cap: UK£272.9m

Provides building products made from clay and concrete for the construction sector in the United Kingdom.

Zignago Vetro

Market Cap: €617.9m

Produces, markets, and sells glass containers in Italy, Europe, and internationally.

K+S

Market Cap: €2.6b

Operates as a supplier of mineral products for the agricultural, industrial, pharma, consumer, and community sectors in Europe, Germany, North America, South America, Asia, Africa, and Oceania.

Perenti

Market Cap: AU$2.1b

Operates as a mining services company worldwide.

Eagle Materials

Market Cap: US$6.3b

Through its subsidiaries, manufactures and sells heavy construction products and light building materials in the United States.

NGEx Minerals

Market Cap: CA$5.8b

Engages in the acquisition, exploration, and development of mineral properties in South America.

Endeavour Silver

Market Cap: CA$3.5b

A silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Mexico, Chile, Peru, and the United States.

Ternium

Market Cap: US$9.1b

Manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally.

Methanex

Market Cap: CA$6.1b

Engages in the production and sale of methanol and ammonia in Asia Pacific, North America, Europe, and South America.

Robertet

Market Cap: €1.7b

Produces and sells perfumes, aromas, and natural products in France, Europe, the United States, and internationally.

Chemtrade Logistics Income Fund

Market Cap: CA$1.9b

Offers industrial chemicals and services in Canada, the United States, and Brazil.

Wacker Chemie

Market Cap: €4.4b

Produces and sells chemical products in Europe, Asia, the Americas, and internationally.

LSB Industries

Market Cap: US$851.8m

Manufactures, markets, and sells chemical products in the United States.

Shandong Hongqiao Aluminum Industry Holding

Market Cap: CN¥266.5b

Engages in the research, development, production, and sale of aluminum products in China and internationally.

29Metals

Market Cap: AU$455.0m

Operates as a copper-focused base and precious metals mining company in Australia and Chile.

Tianqi Lithium

Market Cap: CN¥75.4b

A new energy materials company, engages in the production, processing, and sales of lithium chemical products in Australia, Chile, and China.

SKSHU PaintLtd

Market Cap: CN¥20.5b

Produces and sells architectural coatings, waterproof materials, floor materials, thermal insulation materials and integrated thermal insulation boards, and base materials in China.

Archi Indonesia

Market Cap: Rp28.6t

Through its subsidiaries, engages in gold and silver mining business in Indonesia.

Kaneka

Market Cap: JP¥350.9b

Engages in the manufacture and sale of polyvinyl chloride (PVC), crosslinked PVC, PVC-PVAc polymers, paste PVC, acryl grafted-vinyl chloride copolymer, and chlorinated PVC in Japan and internationally.