Global Materials Undervalued based on future growth

RHI Magnesita

Market Cap: UK£1.4b

Develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.

Mayr-Melnhof Karton

Market Cap: €1.6b

Manufactures and sells carton boards, paper, and folding cartons primarily in Europe.

Jindal Saw

Market Cap: ₹171.9b

Engages in the manufacture and supply of iron and steel pipes, and pellets in India and internationally.

ORG Technology

Market Cap: CN¥12.0b

Provides packaging solutions in China and internationally.

China XLX Fertiliser

Market Cap: HK$13.6b

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

Alkane Resources

Market Cap: AU$2.4b

Operates as a gold exploration and production company in Australia.

TIMAH

Market Cap: Rp29.7t

Engages in tin mining and smelting operations in Indonesia and internationally.

Fufeng Group

Market Cap: HK$13.0b

An investment holding company, engages in the manufacture and sale of fermentation-based food additives, and biochemical and starch-based products in the People’s Republic of China and internationally.

Hansol Chemical

Market Cap: ₩2.1t

Manufactures and sells various chemicals primarily in South Korea.

E.I.D.- Parry (India)

Market Cap: ₹143.7b

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

HBIS Resources

Market Cap: CN¥10.0b

Engages in the mining, processing, selling, and servicing of mineral products in China and internationally.

Xinxiang Richful Lube AdditiveLtd

Market Cap: CN¥9.9b

Engages in the research, development, production, and sales of fine chemical products in China and internationally.

Bradespar

Market Cap: R$7.6b

Through its interest in VALE, operates as a mining company in the production of iron ore and pellets, and nickel in Brazil.

Sylvamo

Market Cap: US$1.5b

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

Apex Mining

Market Cap: ₱88.4b

Engages in the mining, milling, concentrating, converting, smelting, treating, preparing for market, manufacturing, buying, selling, and exchanging of metals and minerals in the Philippines.

Fangda Special Steel Technology

Market Cap: CN¥9.5b

Fangda Special Steel Technology Co., Ltd.

Anhui Guangxin Agrochemical

Market Cap: CN¥9.2b

Researches, develops, produces, and sells pesticides technical, preparations, and intermediates in China.

Stanley Agriculture GroupLtd

Market Cap: CN¥9.2b

Engages in the manufacturing and sales of compound fertilizers in China.

Kardemir Karabük Demir Çelik Sanayi Ve Ticaret

Market Cap: ₺64.1b

Kardemir Karabük Demir Çelik Sanayi Ve Ticaret A.S.

Elkem

Market Cap: NOK 12.2b

Engages in the provision of advanced material solutions worldwide.

Jiang Su Suyan JingshenLtd

Market Cap: CN¥8.7b

Engages in the mining, research, production, distribution, and sale of salt and salt chemicals in China.

Zhejiang Jiahua Energy Chemical IndustryLtd

Market Cap: CN¥8.5b

Zhejiang Jiahua Energy Chemical Industry Co.,Ltd.

Cascades

Market Cap: CA$1.7b

Produces, converts, and markets packaging and tissue products in Canada and the United States.

Orezone Gold

Market Cap: CA$1.7b

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

West China Cement

Market Cap: HK$9.8b

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.

Catalyst Metals

Market Cap: AU$1.7b

Engages in the mineral exploration and evaluation in Australia.

Kolon Industries

Market Cap: ₩1.7t

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

Develop Global

Market Cap: AU$1.7b

Engages in the exploration and development of mineral resource properties in Australia.

Sunstone Development

Market Cap: CN¥8.1b

Engages in the research, development, production, and sale of prebaked anodes, lithium battery anode materials, and film capacitors in China and internationally.

Nantong Jiangshan Agrochemical & ChemicalsLtd

Market Cap: CN¥7.9b

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

China BlueChemical

Market Cap: HK$9.2b

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.

GoGold Resources

Market Cap: CA$1.6b

Engages in the exploration, development, and production of silver, gold, and copper primarily in Mexico It owns the Los Ricos property, which includes Los Ricos South and Los Ricos North projects, that covers 45 concessions with an area of approximately 24,000 hectares situated in the Jalisco State, Mexico; and the Parral Tailings project located in the city of Parral.

McEwen

Market Cap: US$1.1b

Engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina.

Sinofert Holdings

Market Cap: HK$8.8b

An investment holding company, engages in the production, import and export, distribution, and retail of fertilizer raw materials and crop nutrition products in Mainland China and internationally.

Sumitomo Osaka Cement

Market Cap: JP¥177.3b

Manufactures and sells cement and related products primarily in Japan.

Shandong Head GroupLtd

Market Cap: CN¥7.3b

Engages in the production and sales of water-soluble polymer compound series, food additives, and cellulose plant products in the People’s Republic of China and internationally.