Global Materials Undervalued based on future growth

Zhe Jiang Hai Liang

Market Cap: CN¥25.6b

Engages in the production, sale, and service of copper products, materials of conductors, and aluminum-based materials.

Wienerberger

Market Cap: €2.9b

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

K92 Mining

Market Cap: CA$4.7b

Engages in the exploration and development of mineral deposits in Papua New Guinea.

Acerinox

Market Cap: €2.9b

Manufactures, process, and markets stainless steel products in Spain, the United States, Africa, Asia, Rest of Europe, and internationally.

Verallia Société Anonyme

Market Cap: €2.7b

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

Lingbao Gold Group

Market Cap: HK$22.1b

Primarily engages in mining, processing, smelting, refining, and sale of gold products in the People’s Republic of China.

Avient

Market Cap: US$2.8b

Operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia.

Century Aluminum

Market Cap: US$2.7b

Produces and sells standard-grade and value-added primary aluminum products in the United States and Iceland.

Vale Indonesia

Market Cap: Rp44.7t

Engages in the mining and processing of nickel in Indonesia.

Ta Chen Stainless Pipe

Market Cap: NT$82.8b

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

Fortuna Mining

Market Cap: CA$3.6b

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

Pan African Resources

Market Cap: UK£1.9b

Engages in the mining, extraction, production, and sale of gold in South Africa.

Hochschild Mining

Market Cap: UK£1.9b

A precious metals company, engages in the exploration, mining, processing, and sale of gold and silver deposits in Peru, Argentina, the United Kingdom, Canada, Brazil, and Chile.

Ningbo Boway Alloy Material

Market Cap: CN¥18.0b

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

Shanghai Huafon Aluminium

Market Cap: CN¥17.7b

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

Indah Kiat Pulp & Paper

Market Cap: Rp41.4t

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.

Dongyue Group

Market Cap: HK$19.1b

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.

Hubei Yihua Chemical Industry

Market Cap: CN¥17.3b

Produces and sells fertilizer, chlor-alkali, and fine chemical products in China.

Innovation New Material Technology

Market Cap: CN¥17.3b

Innovation New Material Technology Co., Ltd.

Olin

Market Cap: US$2.4b

Manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada.

Shanghai Huayi Group

Market Cap: CN¥16.7b

Operates as a chemical company in China.

Billerud

Market Cap: SEK 22.0b

Provides paper and packaging materials worldwide.

XianheLtd

Market Cap: CN¥16.5b

Develops and produces specialty papers, pulps, paper products, and related chemical additives in China and internationally.

Lucky Cement

Market Cap: PK₨648.1b

Manufactures and markets cement in Pakistan.

Wesdome Gold Mines

Market Cap: CA$3.2b

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

Imerys

Market Cap: €2.0b

Engages in the supply of specialty minerals for various industries across Europe, the Middle East, Africa, Asia Pacific, and America.

Aris Mining

Market Cap: CA$3.2b

Engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana.

Emerald Resources

Market Cap: AU$3.5b

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

West African Resources

Market Cap: AU$3.5b

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

Shandong Humon Smelting

Market Cap: CN¥15.6b

Engages in smelting of gold in China and interationally.It is also involved in smelting, refining, and processing of rare and semi metal; precious metal mining; chemical; research, development, and production of high purity metal materials; trade of mineral products; and other business.

Alleima

Market Cap: SEK 20.2b

Manufactures and sells stainless steels, special alloys, medical wires and components, and electric heating systems in Europe, North America, Asia, and internationally.

West China Cement

Market Cap: HK$16.4b

An investment holding company, manufactures and sells cement and cement products in the People’s Republic of China, Mozambique, Ethiopia, Democratic Republic of Congo, Other African countries, and internationally.

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.

NV Bekaert

Market Cap: €1.8b

Provides steel wire transformation and coating technologies worldwide.

E.I.D.- Parry (India)

Market Cap: ₹182.1b

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

Kumho Petro ChemicalLtd

Market Cap: ₩3.0t

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