Global Materials Undervalued based on future growth

Xinfengming Group

Market Cap: CN¥26.1b

Researches, develops, produces, and sells polyester filaments.

HBIS

Market Cap: CN¥25.0b

Hbis Company Limited produces and sells steel products in China and internationally.

Westgold Resources

Market Cap: AU$5.1b

Engages in the exploration, development, and operation of gold mines in Western Australia.

Regis Resources

Market Cap: AU$4.8b

Engages in the exploration, evaluation, and development of gold projects in Australia.

Capricorn Metals

Market Cap: AU$4.8b

Explores, develops, evaluates, and produces gold in Australia.

Indah Kiat Pulp & Paper

Market Cap: Rp52.0t

Manufactures and sells cultural paper, pulp, tissue, and industrial paper in Indonesia, rest of Asia, the United States, Australia, the Middle East, Africa, and Europe.

Fortuna Mining

Market Cap: CA$4.0b

Engages in the precious and base metal mining and related activities in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal.

Wienerberger

Market Cap: €2.5b

Produces and sells clay blocks, facing bricks, roof tiles, and pavers in Europe West, Europe East, and North America.

Shanghai Huafon Aluminium

Market Cap: CN¥20.0b

Engages in the research and development, production, and sales of aluminum sheets, strips, and foils.

Ta Chen Stainless Pipe

Market Cap: NT$88.3b

Manufactures, processes, and sells stainless steel pipes, plates, and fittings, and venetian blinds in Taiwan, the United States, China, and internationally.

Lafarge Africa

Market Cap: ₦3.6t

Manufactures, markets, and sells cement and other cementitious products in Nigeria.

OYAK Çimento Fabrikalari

Market Cap: ₺113.8b

Engages in the production and sale of clinker and cement in Turkey.

Wesdome Gold Mines

Market Cap: CA$3.5b

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada.

Ningbo Boway Alloy Material

Market Cap: CN¥17.4b

Researches, develops, manufactures, and sells non-ferrous alloy materials in Asia, Europe, North America, and internationally.

Dongyue Group

Market Cap: HK$19.6b

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.

Taiheiyo Cement

Market Cap: JP¥383.4b

Engages in the cement, mineral resources, environmental, construction materials, and other businesses in Japan and internationally.

Emerald Resources

Market Cap: AU$3.4b

Engages in the exploration and development of mineral reserves in Cambodia and Australia.

Archi Indonesia

Market Cap: Rp39.7t

Through its subsidiaries, engages in the mining, trading, and processing of gold properties in Indonesia.

West African Resources

Market Cap: AU$3.3b

Engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa.

NV Bekaert

Market Cap: €2.0b

Provides steel wire transformation and coating technologies worldwide.

Kumho Petro ChemicalLtd

Market Cap: ₩3.3t

Manufactures and sells synthetic rubber and resins, specialty chemicals, nanocarbon, energy, and building materials in South Korea and internationally.

Verallia Société Anonyme

Market Cap: €1.8b

Manufactures and sells glass packaging products for beverages and food products worldwide.

Group of Companies Segezha

Market Cap: ₽127.9b

Group of Companies Segezha Public Joint Stock Company operates in the forestry industry in Russia and internationally.

Xinxiang Richful Lube AdditiveLtd

Market Cap: CN¥14.4b

Engages in the sales of lubricant additive products in China and internationally.

China XLX Fertiliser

Market Cap: HK$16.1b

An investment holding company, engages in the development, manufacture, and sale of urea primarily in Mainland China and internationally.

Resolute Mining

Market Cap: AU$2.8b

Engages in mining, prospecting, and exploration of mineral properties in Africa.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.7b

Through its subsidiaries, produces and sells pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania.

Mayr-Melnhof Karton

Market Cap: €1.6b

Manufactures and sells cartonboard and folding cartons in Germany, Austria, and internationally.

Lucky Cement

Market Cap: PK₨519.9b

Manufactures and markets cement in Pakistan.

Nantong Jiangshan Agrochemical & ChemicalsLtd

Market Cap: CN¥12.7b

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

Poongsan

Market Cap: ₩2.7t

Develops, manufactures, markets, exports, and sells fabricated non-ferrous metal, commercial ammunition, and defense products in South Korea and internationally.

Shenzhen Batian Ecotypic Engineering

Market Cap: CN¥12.5b

Shenzhen Batian Ecotypic Engineering Co., Ltd.

Godawari Power & Ispat

Market Cap: ₹168.3b

Engages in the mining of iron ores in India.

Anhui Jinhe IndustrialLtd

Market Cap: CN¥12.3b

Engages in the research and development, production, and sales of food additives, daily chemical flavors, bulk chemicals, and intermediates.

China BlueChemical

Market Cap: HK$13.6b

Engages in the processing of natural gas and the development, production, and sale of chemical fertilizers and chemical products in the People’s Republic of China and internationally.

Ora Banda Mining

Market Cap: AU$2.5b

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