I Bytes Resources industry

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I-Bytes
Resources
December Edition 2020
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates.................................................................................................................................................12
3. Rewards and Recognition Updates...................................................................................................................25
4. Customer Success Updates................................................................................................................................46
5. Partnership Ecosystem Updates.......................................................................................................................50
6. Environment & Social Updates........................................................................................................................61
7. Miscellaneous Updates......................................................................................................................................67

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Financial, M & A
Updates Resources Industry

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Financial, M&A Updates
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ALROSA (Russia) sums up results of diamond sales in Belgium, Israel and Dubai
ALROSA in November successfully held competitive rough diamond
sales in its foreign offices. Apart from two special size (over 10.8 carats)
rough diamond auctions, the company held the international road show
and competitive sales of fancy colored rough. ALROSA sells large and
fancy colored diamonds using competitive sales methods, such as
auctions and collection of competitive bids. In November 2020 the
company held auctions for diamonds larger than 10.8 carats at its offices
in Israel and Dubai. Apart from these, in Israel and Belgium the company
collected competitive bids for fancy colored rough. 64 percent of 130
lots weighting 8,200 carats were successfully sold. At the special size
diamond auction in Israel ALROSA sold 112 lots weighing 1,850 carats
for a total of $9.8 million. At the auction in Dubai, 135 lots weighing
2,088 carats were realized for $14.5 million.
Executive Commentary
‘Our competitive sales results in November indicate the continuing
demand for high quality goods, which started rebounding in summer
and lasted through first Autumn months. Additionally, we put on
tender a large assembly of fancy colored rough and showed it at two
countries. Customers showed strong interest in colored as well as
special size diamonds. We have signed more than 90 contracts with
buyers from Belgium, Israel, India, UAE and Russia. We are glad to
see the rebound of the trading activity in Dubai, where the auctions
were resumed very recently after the break that lasted for many
months,’ commented CEO of ALROSA.
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Anglo American: Strong Performance And Balanced Investment Drive
Sustainable Returns
Anglo American plc (“Anglo American” or “the Group”) is providing an update to the
investment community on the Group’s sustained operational and financial performance
during 2020. The update will also include the latest guidance for the current and next
three financial years, including in relation to capital expenditure and production
volumes, and a progress update on Anglo American’s growth projects. Anglo American
maintained a strong performance during 2020, in the face of Covid-19 related and other
operational impacts, and expects further performance improvement in 2021:
Unit costs for 2020 expected to reduce by 2%, despite lower total production volumes;
• Mining EBITDA margin sustained at c.42%, supported by cost control and price
strength across copper and iron ore;
• Forecast 2021 capex increased to $5.7-6.2 billion to reflect carry-over from 2020
deferrals, additional investment in new business improvement opportunities, and the
targeting of critical path items for the Woodsmith polyhalite project; and
• Production in 2021 expected to increase by 14%; unit costs to decrease by a further
3%.
Chief Executive of Anglo American, said: “This year has brought numerous
challenges and I am immensely proud of how the 90,000 people of Anglo American
have responded to every aspect of the pandemic. Our agility to protect our people
and communities while sustaining our operations has enabled us to continue to
improve the quality, resilience and performance of our business in 2020. At the same
time, we have continued to enhance our long term business prospects. We expect to
deliver sector leading volume growth of 20-25% over the next three to five years that
includes first copper production from Quellaveco in 2022. Together with our P101
and technology improvement initiatives, we are on track to deliver our targeted $3-4
billion run-rate of incremental annual improvement by the end of 2022. Looking
further out, our diversified portfolio of world-class competitive operations,
development projects and undeveloped resources provide us with many further high
quality and high returning growth options. With the bulk of those options in copper,
PGMs, and now also crop nutrients, we are increasingly positioned to supply those
metals and minerals that enable a cleaner, greener, more sustainable world.”
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Fortune Brands (USA) Completes Acquisition Of Larson As Part Of
Outdoors & Security Segment
Fortune Brands Home & Security, Inc. an industry-leading home and security products company, announced it completed the acquisition of LARSON
Manufacturing (“LARSON”), the North American market leading brand of storm, screen and security doors. LARSON is now part of Fortune Brands’
Outdoors & Security segment. The Company completed the acquisition for a price, net of tax benefits, of approximately $660 million, which was funded
with cash on hand and borrowings under its revolving credit facility. With revenues of approximately $390 million, LARSON has approximately 1,200
associates and is headquartered in Brookings, South Dakota, with manufacturing operations in Brookings, South Dakota, Lake Mills, Iowa, Mocksville,
North Carolina and Senatobia, Mississippi, in addition to central distribution centers in Albert Lea, Minnesota and Mocksville, North Carolina. The
Company expects that the LARSON management team, associates and locations will remain in place. Fortune Brands Home & Security, Inc. headquartered
in Deerfield, IL., creates products and services that fulfill the dreams of home. The Company's operating segments are Plumbing, Cabinets and Outdoors &
Security. Its trusted brands include Moen, Riobel, Perrin & Rowe, Shaws, Victoria + Albert and Rohl under the Global Plumbing Group (GPG); more than
a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems, LARSON storm, screen and security doors, Fiberon composite decking
and Master Lock and SentrySafe security products in the Outdoors & Security segment. Fortune Brands holds market leadership positions in all of its
segments. Fortune Brands is part of the S&P 500 Index and a Fortune 500 Company.
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Freeport-McMoRan (USA) Completes Sale Of Undeveloped Project In
The Democratic Republic Of Congo For $550 Million
Freeport-McMoRan Inc. announced that it has completed a sale of its
interests in the Kisanfu undeveloped project to a wholly owned
subsidiary of China Molybdenum Co., Ltd. (CMOC) for $550 million.
After-tax net cash proceeds approximate $415 million. The Kisanfu
project, located in the Democratic Republic of Congo, is a large,
undeveloped cobalt and copper resource discovered by Freeport’s
exploration team. Following Freeport’s sale of its interest in the
adjacent Tenke Fungurume mine in 2016, the Kisanfu project was no
longer strategic to Freeport’s long-term strategy. As of December 31,
2019, FCX did not have any proven and probable reserves associated
with the Kisanfu project. FCX expects to record an after-tax gain of
approximately $350 million in the fourth quarter of 2020 associated
with this sale.
President and Chief Executive Officer, said, “We are pleased to
announce this transaction, which enhances our financial position.
We continue to execute our strategy focused on our attractive
portfolio of large and high-quality copper assets with strong and
established franchises in North America, South America and
Indonesia.”
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Glencore (Switzerland) completes acquisition of Orsted's LNG business
Glencore’s Oil division has completed the acquisition of the
liquefied natural gas (LNG) business of Orsted A/S. The
transaction involves Glencore taking over a number of
contracts, including the right to use 3bcm of annual LNG
regasification capacity at the Gate terminal in Rotterdam until
2031 as well as a number of LNG supply contracts. The
transaction also involves a payment from Orsted to Glencore.
The Head of Glencore Oil marketing commented: “We are
pleased to complete the acquisition of Orsted’s LNG
portfolio. We are increasingly focusing on the LNG business
as a key part of our Oil division strategy and the Orsted
transaction represents an important milestone in that journey.
We see good opportunities in the market place and we are
excited to continue to grow our LNG marketing portfolio.”
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HeidelbergCement (Germany) invests around €400 million into the modernisation
and reorganisation of its cement sites in France
HeidelbergCement’s subsidiary Ciments Calcia presented the draft terms of its
large-scale investment and reorganisation programme for several of its sites in France.
The programme is in line with HeidelbergCement’s strategy to create a sustainable
low-carbon and high performance business throughout the Group. The programme
comprises investments of around €400 million at the Ciments Calcia plants, of which
nearly €300 million are earmarked for the Airvault site alone. The company intends to
adapt the organisation at its French headquarters and at two of its production sites in
France in the following way:
• Conversion of the plant in Gargenville (Yvelines) into a modern grinding center and
shut down of the kiln system and quarry operations. This adjustment would in particular
enhance the sustainability of this strategically important site, which supplies the Parisian
basin via inland waterways.
• Shut down of white cement production at the Cruas (Ardèche) site. The site would be
converted into an automated cement terminal for the distribution of white cement.
• Review of the organisation of headquarters in Guerville (Yvelines) and adaptation to
the company’s transformation.
“As part of our global business excellence initiative, we intend to further optimise
effectiveness, processes and structures of our French sites,” says Chairman of the
Managing Board of HeidelbergCement. “We want to considerably speed up the
modernisation of our plants in order to enhance our performance in France, while
ensuring alignment with the goals of the Paris agreement. This is why we focus our
initiatives on the main CO2-emitting plants in France.”
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HeidelbergCement (Germany) to install the world's first full-scale CCS facility in a
cement plant
The Norwegian parliament approved the investment in a full-scale carbon capture facility at
the HeidelbergCement Norcem plant in Brevik, Norway. The Brevik carbon capture and
storage (CCS) project will enable the capture of 400,000 tonnes of CO2 per year and the
transportation for permanent storage, making it the first industrial-scale CCS project at a
cement production plant in the world. Work on the new facility in Brevik is expected to begin
immediately, with the goal of starting CO2 separation from the cement production process by
2024. The end result will be a 50% cut of emissions from the cement produced at the plant.
The Norwegian government had shortlisted Brevik for an industrial-scale CO2 capture trial
at the beginning of 2018. In September 2019, a memorandum of understanding on the
capture and storage of CO2 was signed by HeidelbergCement and the state-owned
Norwegian energy Group Equinor. The project funding is largely supported by the
Norwegian government as part of the Norwegian full-scale ‘Longship’ climate investment
project that comprises capture, transport and storage of CO₂. HeidelbergCement has
committed itself to reduce its specific net CO2 emissions per tonne of cementitious material
by 30% compared to 1990 by 2025. This figure had previously only been targeted for 2030.
To achieve this, the company has defined concrete CO2 reduction measures for all plants
worldwide. HeidelbergCement aims to offer carbon-neutral concrete by 2050 at the latest.
“We are delighted about the final approval of the Norwegian parliament for our
breakthrough CCS project in Norway,” says Chairman of the Managing Board of
HeidelbergCement. ”To meet national and international climate targets, CO2 separation
is an important cornerstone. Our CCS project in Brevik will pave the way for our
industry and other sectors.”
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JSW Infra (India) completes acquisition of Chettinad Group’s port business
JSW Infrastructure, part of the $12 billion JSW Group, has completed the
acquisition of Chettinad Group’s port business, including a deep draft
international coal terminal and a bulk terminal at Kamarajar Port Ltd. (KPL)
and coal and bulk commodity terminal at New Mangalore Port Trust (NMPT)
for over ₹1,000 crore. JSW Infrastructure is investing more than ₹1,000 crore
to acquire as well as modernise these port assets, which have a combined cargo
handling capacity of 17 million tonnes per annum. These assets also fit into
JSW’s strategic direction to achieve 200 million tonnes per annum cargo
handling capacity over next couple of years, it said in a statement. KPL is a
landlord port. Under this model, the Port authority acts as regulatory body and
as landlord, while Port operations are carried out by private companies. In FY
19-20, all the terminals at KPL handled 31.75 MTPA cargo. NMPT is an
all-weather, lagoon type port situated at Panambur, Mangaluru. In FY20, it
handled over 39.1 million tonnes of cargo.
“The newly acquired terminals are strategic assets for JSW Infrastructure.
Their addition enables us to service higher volume of third-party customer
cargo. We intend to modernise these terminals to further enhance their
operational efficiency,” said senior vice president and head of M&A, JSW
Infrastructure.
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Newmont (USA) Provides 2021 and Longer-term Outlook
• Attributable gold production: Production guidance is 6.5 million ounces for 2021 and is expected to be between
6.2 and 6.7 million ounces through 2023 and between 6.5 and 7.0 million ounces longer-term through 2025.
• Attributable gold equivalent ounce (GEO) production from other metals4: Co-product GEO production guidance
is 1.3 million ounces for 2021, between 1.2 to 1.4 million ounces in 2022 and 1.4 to 1.6 million ounces through 2025.
• Gold costs applicable to sales (CAS): CAS guidance is $750 per ounce for 2021, between $650 and $750 per ounce
for 2022 and $625 and $725 per ounce for 2023; CAS is expected to further improve to between $600 and $700 per
ounce for 2024 through 2025.
• Gold all-in sustaining costs (AISC): AISC guidance is $970 per ounce for 2021, between $850 and $950 per ounce
for 2022 and $825 and $925 per ounce for 2023; AISC is expected to improve to between $800 and $900 per ounce for
2024 through 2025.
• Capital: Attributable sustaining capital guidance is $950 million for 2021 and is expected to be between $900 to
$1,100 million longer-term through 2025. Attributable development capital guidance is $850 million for 2021 and
expected to average between $600 to $800 million per year through 2025, which includes development capital
expenditures for Tanami Expansion 2, Ahafo North and Yanacocha Sulfides.
• Returns: Industry-leading dividend and dividend framework5 including an annualized $1.00 per share sustainable
base dividend with additional returns at higher gold prices. Completed the remaining $200 million of the 2020
share-repurchase program in the fourth quarter for an average cost of $45 per share for the total $1.0 billion program.
Newmont is on track to return more than $2.7 billion to shareholders since January 2019.
• ESG Commitment: Directing $500 million to climate change initiatives through 2025 targeted to support the
reduction of greenhouse gas emissions 30 percent by 2030 and goal of net zero carbon by 2050.
“Newmont’s outlook remains strong and stable as we apply the rigor and discipline of our proven operating model
across our world-class portfolio. Our five-year outlook reflects improving production and costs as we continue to
deliver value from superior operational and project execution,” said Tom Palmer, President and Chief Executive
Officer. “Our strong financial position allows us to continue investing in profitable, organic growth while
simultaneously returning cash to shareholders through our industry leading dividend framework.” Said President
and Chief Executive Officer
9
Key Financial Highlights

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U. S. Steel Closes on Green Bonds to Finance Low-Emission, Low-Carbon Electric
Arc Furnace in Alabama
United States Steel Corporation announced the closing of $63.4 million of
Environmental Improvement Revenue Bonds with a green bond designation. The
company will use proceeds from the green bonds to partially fund work related to its new
environmentally preferred, low-emission electric arc furnace at U. S. Steel’s Fairfield
Works. The green bonds issued through The Industrial Development Board of the City of
Hoover, Alabama, have a coupon of 6.375% and carry a final maturity of 2050. In its
agreement with the Alabama bond issuers, U. S. Steel will pay the semiannual interest
and repay the principal upon maturity. Founded in 1901, the United States Steel
Corporation is a Fortune 250 company and leading integrated steel producer. With
extensive iron ore production and an annual raw steelmaking capability of 22 million net
tons, U. S. Steel produces high value-added steel products for the automotive,
infrastructure, appliance, container, and energy industries. The company’s “best of both”
integrated and mini-mill technology strategy is advancing a more secure, sustainable
future for U. S. Steel and its stakeholders. With renewed emphasis on innovation and
customer focus, the company produces cutting-edge products such as U. S. Steel’s
proprietary XG3™ advanced high-strength steel.
“Our first green bond is an important step forward for U. S. Steel in our drive toward
more sustainable practices,” said U. S. Steel President and Chief Executive Officer.
“This is doubly relevant for our new electric arc furnace, which recycles scrap steel
as its primary feedstock and uses electricity for power. By partially funding the
electric arc furnace, the green bond is helping advance our commitment to reduce
greenhouse gas emissions intensity by 20 percent by 2030.
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United States Steel Corporation to Acquire Remaining Equity Of Big River Steel
United States Steel Corporation announced it has exercised its call option to acquire the
remaining equity of Big River Steel (“Big River Steel”) for approximately $774 million from
cash on hand. The company ended November with approximately $2.9 billion of liquidity,
including over $1.7 billion of cash. The transaction is expected to be immediately accretive to
earnings with the potential for significant synergies to further support long-term value creation.
The transaction is subject to satisfaction of customary closing conditions, including antitrust
approval, and is expected to close in the first quarter of 2021. Big River Steel operates a
LEED-certified Flex Mill™ in northeast Arkansas that is believed to be the newest and most
advanced flat-rolled mill in North America. Big River Steel’s advanced manufacturing
technology and skilled operators combined with U. S. Steel’s product development capabilities
and intellectual property have allowed Big River Steel to produce eleven advanced U. S. Steel
grades, including substrate for its XG3™ grade of Generation 3 advanced high-strength steels
(AHSS). Big River Steel offers high-quality products and services to discerning customers in the
automotive, energy, construction, and agricultural industries. Big River Steel’s Phase II-A
expansion doubled the mill’s hot-rolled steel production capacity to 3.3 million tons annually,
establishing it as one of the largest electric arc furnace-oriented flat-rolled mills in North
America. The Phase II-A expansion was completed in November of this year, ahead of schedule
and below Big River Steel’s previously disclosed budget.
“For months, I’ve said that we can’t get to the future fast enough., I can say the future is now.
We are acquiring Big River Steel, the cornerstone of our ‘Best of Both’ strategy,” said,
President and Chief Executive Officer of U. S. Steel. “With Big River Steel, we can offer
customers the high performance, innovative steel products they expect from U. S. Steel’s
scientists and application engineers made through a state-of-the-art, environmentally
sustainable and efficient mini mill process.”
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Solutions Updates
Resources Industry

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CEMEX (Mexico) introduces Vertua® in Mexico, its low carbon and
net-zero CO2 products
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Solution Description
CEMEX, S.A.B. de C.V. announced that Vertua®, its low carbon and net-zero CO2 products, is now available in Mexico after a successful
introduction in Europe. Vertua® is a milestone towards carbon-neutral construction becoming a reality. Since December 1, it is available in
Mexico City, Monterrey, Guadalajara, Cancun, Tijuana, León, Querétaro, Puebla, Mérida, and Mazatlán, and will be gradually available in the
rest of Mexico. Vertua® is the result of the work done by the CEMEX’s Research and Development Center in Switzerland and it´s one of the
main components of the ambition to deliver net-zero CO2 concrete for all products and geographies by 2050. Customers in several European
countries are already using Vertua® in flagship infrastructure projects and many climate-friendly building projects, reducing their
construction CO2 footprint significantly. Early this year, CEMEX announced its Climate Action strategy, defining a global target of a 35%
reduction of CO2 emissions per ton of cementitious products by 2030. To complement this strategy with a longer-term vision, CEMEX also
established an ambition to deliver net-zero CO2 concrete to all its customers globally by 2050. CEMEX is a global building materials
company that provides high-quality products and reliable services. CEMEX has a rich history of improving the well-being of those it serves
through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future.

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CEMEX Ventures (Mexico) invests in Soil Connect to digitalize excavation
material management and reduce waste in landfills
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CEMEX Ventures, CEMEX's Corporate Venture Capital and open innovation unit, announced its investment in Soil Connect. This US-based digital
marketplace provides a better, faster, and cheaper way for construction professionals to transport and acquire soil, aggregates, and other building materials.
Soil Connect limits waste, as users can mitigate the need to dump excess materials in landfills, and it helps reduce carbon emissions by enabling users to
transact at shorter distances. The Soil Connect platform connects the supply and demand of soil algorithmically based on the users' proximity and needs. By
digitizing the monitoring and billing tasks of land-related transactions, which have historically been carried out on paper, the marketplace facilitates
transparency and helps users optimize time and costs through digital documentation (e-ticketing). Additionally, Soil Connect reduces the amount of soil
currently disposed of in landfills, which results in tremendous cost savings for construction professionals. This also promotes circular economy within the
sector by giving a new life to materials that otherwise, would have been discarded. Soil Connect also favors lowering carbon emissions by reducing the
transportation distance, as the platform allows users to select the desired distance within their reach to find other users with mutual interests. This investment
by CEMEX Ventures is part of CEMEX's ambition to deliver net-zero CO2 concrete globally by 2050. Since inception, Soil Connect has acquired thousands
of users who have posted over 120 million yards of materials on the marketplace, which is available in cities across the United States. As part of CEMEX
Ventures' investment portfolio, Soil Connect will have access to a vast network of construction professionals who will support it in its goal of expanding its
foothold in the U.S. market.

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Solution Updates
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JFE Steel (Japan) Develops JNRF™ Silicon-gradient Steel Sheet for High-speed Motors
Minimizes high-frequency iron loss and improves high magnetic flux density
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JFE Steel Corporation announced its recently developed JNRF™ silicon-gradient steel sheet for use in high-speed motors, which the company produces
using proprietary chemical vapor deposition (CVD) technology for continuous siliconizing.1 The new material reduces high-frequency iron loss2 and
improves magnetic flux density,3 thereby helping to increase motor torque and significantly improve efficiency for energy conservation. Electrical steel
sheets4, which are used widely as an iron core material for electrical equipment such as motors and transformers, are a key material governing the
performance of electrical equipment. In recent years, efforts to increase driving frequency5 for the downsizing of electrical equipment have created
needs to reduce iron loss in electrical steel sheets used in applications involving high-frequency drive. Silicon increases the electrical resistance of steel,
so increasing the amount silicon helps to reduce iron loss in the high frequency range. JFE Steel developed a proprietary technology for CVD
continuous siliconizing, and then used this process to produce JNEX Core®, a high-silicon (6.5%) steel sheet, and JNHF Core®, a silicon-gradient steel
sheet with increased silicon concentration in its surface layer, both of which will enable JFE Steel customers to develop higher-quality products. In
high-speed motor applications, there are growing demands for reduced iron loss due to high-frequency drive and increased magnetic flux density for
higher torque. In response, JFE Steel launched a plan to enhance its lineup of electrical steel sheet products. The solution was to control silicon
concentration distribution by optimizing the siliconizing amount and diffusion conditions and control crystal orientation.

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Acceleration of green building solutions in Latin America with ECOPact
launch and doubling of Disensa presence
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LafargeHolcim launches its green concrete ECOPact in Latin America, starting in Ecuador, Colombia and Mexico with all key markets due to follow in the
first half of 2021. This roll-out of ECOPact, enabling carbon neutral construction, builds on its successful market adoption across Europe, the UK, the US
and Canada. Accelerating its green building solutions in Latin America, the company also plans to introduce its EcoLabel to transparently communicate the
environmental benefits of its green cement range. As of December 2020 customers will be able to easily identify products that comply with the company’s
green criteria, including lower CO2 footprint and recycled content. Products with the EcoLabel will be sold across the Disensa retail network, which has
doubled over the last two years and will reach 2,500 stores by year end. Every country in the region will have at least one Ecolabel product, offering its
customers the lowest-footprint cements in the market. During 2020 the region will pass the mark of 2,500 stores, almost doubling the number in the past two
years. Disensa will become the central network to reach millions of consumers with a diverse product portfolio, based on quality and environmental benefits
by offering ECOLabel products on a wide scale. Disensa will also introduce new digital experiences to the buying process and eventually become a full line
of stores from from Disensa Express to Disensa MAX!, which already opened in several countries. From November 25-27 LafargeHolcim will host the First
Latam Virtual Convention for current and potential Disensa franchisees. Participants from eight Latin American countries will meet virtually to discuss
Disensa’s new strategy and transformation, covering topics such as: new store formats, branding, category management, and financing plans.

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14Trees pioneers 3D printing technology in Africa for affordable housing
and schools
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14Trees, a LafargeHolcim joint venture with CDC Group, the UK’s publicly owned impact investor, is deploying 3D printing technology at scale
to build affordable and low-carbon housing and schools in Africa, starting in Malawi. With its record speed of construction and optimised material
use, this technology reduces the carbon footprint for building new homes by up to 70%. Pioneering this technology in schools for the first time,
14Trees aims to address the country’s chronic infrastructure shortage while creating skilled local jobs. Using proprietary LafargeHolcim ink, this
innovative 3D printing process will significantly reduce the time and cost of building housing and schools in Malawi. UNICEF estimates a
shortage of 36,000 classrooms in Malawi which would take 70 years to build using conventional methods. According to 14Trees, this infrastructure
gap could be bridged in just ten years using 3D printing. Partnering with a range of NGOs, 14Trees is committed to solving this chronic shortage
at scale, starting with families and communities most in need. These projects will sustain skilled job creation with the hiring and development of
local experts from 3D machine operators to material specialists working hand in hand with local builders for carpentry, roofing and painting. The
walls of 14Trees’ first prototype house were built in Lilongwe in just 12 hours, compared to almost 4 days using conventional methods. The walls
of its first school, built in Salima, were printed in just 18 hours, as opposed to several days.

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NLMK (Russia) expands high-strength steel offering
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NLMK Lipetsk has mastered the production of a new grade of high-strength cold-rolled steel, a unique product for the
Russian market. Its properties enable the production of lighter components while maintaining the same strength of the
material, meaning NLMK steel can replace imported steel in the automotive and metalworking industries. NLMK
delivered the first batch of such steel to Specta, a leading manufacturer of steel packaging straps. High-strength cold-rolled
steel is used in the production of safety critical car body components, among other applications. For instance, the strength
properties of such steel ensure high-quality consumer characteristics of other products, like steel straps produced by the
Specta Group VolgaStrap division. These are used for packaging large-capacity cargo (rolled steel, pipes, etc.) and must
combine high strength with ductility to withstand dynamic loads. To meet its client’s needs, NLMK supplied VolgaStrap
steel that is approximately 1.5x stronger than its closest analogues at a comparable level of ductility.

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POSCO(South Korea) Sets to Reduce Fine Dust With Eco-Friendly
Air-Purifying Facility
18
POSCO has taken the next step towards establishing eco-friendly steelworks by operating an air purification facility that reduces
nitrogen oxide emissions. Nitrogen oxide is an air pollutant that generates fine dust when mixed with water vapor and ozone in the
atmosphere. The SCR facility is an air purification facility that utilizes a catalyst to decompose nitrogen oxide (NOx) contained in the
combustion gas into nitrogen (N2) and water vapor (H2O). A sintering plant is a place where iron ore fines are agglomerated with
other fine materials at high temperature to create a product called a sinter to be used in a blast furnace. During the manufacturing
process, nitrogen and sulfur components contained in the materials react to oxygen and are discharged as air pollutants, such as
nitrogen oxides and sulfur oxides. Up to 80% of nitrogen oxide generated at the sintering plant is expected to be reduced, from
140~160ppm to 30~40ppm. In 2011, POSCO had already constructed eco-friendly sintering facilities composed of dedusting,
desulfurization, and denitration at all sintering plants of Gwangyang Works, and for this time, it was expanded to Pohang Works as
well. In particular, it took two years to complete the new SCR facility and 105,738 construction workers participated per year,
contributing to the revitalization of the local economy through job creation.

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Severstal (Russia) launches pioneering lower emissions coke battery to
improve efficiency and boost production
19
PAO Severstal, one of the world's largest vertically integrated steel and mining companies, has launched coke battery No. 11, a new unit using coal charge ramming
technology, at the Cherepovets Steel Mill. The capacity of the first block is 700 thousand tonnes of products per year. The new unit will increase coke production to meet
increasing cast iron output and, consequently, higher steel production volumes. Severstal is the first steel company in Russia to apply the innovative developments of
PAUL WURTH (Luxembourg) in the construction of a coke battery. Modern solutions enable the quality of the coke to be maintained, even when using raw materials
with lower quality and cost. A key component of coke battery No. 11 is a ramming loading and ejecting machine (TZVM). This machine, when operating with the correct
charge and required characteristics, provides the ramming capability. The quality of the coke will be assured, amongst other things, by a special dry coke quenching unit.
The technology guarantees high fuel quality for blast furnaces, since it involves additional calcination and stabilization of the entire coke volume. The USTK unit ensures
the absence of moisture, undesirable in the process of blast furnace melting, and increases the cold strength. In a first for the Russian steel industry, all the unit’s machines
are fully automated. For example, the software module creates a signal when the door of the coke pusher can be removed, eliminating the human factor and optimizing
staff efficiency. The minimum service life of the coke battery is 40 years. The environmental advantage of the project is crucial; the system of dust-free delivery of coke
from the chamber will provide air quality of up to 10 mg/m3 - the level of the cleanest steel enterprises in the world. The battery complex is equipped with smoke-free
loading systems for coke batteries. The design of the furnaces will allow the coke battery to operate with virtually no unplanned releases of gas emissions. As a result of
these measures, the specific emissions from the coke battery No. 11 complex will be 20% lower compared to the total specific emissions of coke oven batteries No. 7-10.

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Sika (Switzerland) Launches Its New Purform® Polyurethane Technology
And Invests In Production Facilities In Düdingen
20
Sika, the world's biggest manufacturer of adhesives and sealants for the building sector and automotive industry, has developed a new polyurethane
technology, which it is launching onto the market under the Purform® brand. The new polymers will first be integrated into Sika's top seller Sikaflex®, as
well as into liquid applied membranes. This innovation brings important benefits for customers: the products have an improved performance profile, are even
more enduring, and have a strong sustainability profile. Investments in the associated production facilities were recently made at the Düdingen site.
Polyurethanes have many different applications in the construction sector and automotive industry. For example, polyurethane-based joints are used in the
weather-resistant sealing of facade elements on buildings, or to affix building components in infrastructure expansion or interior finishings with adhesives.
These high-performance solutions are also used in the bonding of body components and battery systems for electric vehicles. Thanks to its new Purform®
technology, from 2021 on Sika will be supplying customers with products that not only satisfy the highest standards in terms of performance, but that are also
in line with the upcoming stricter REACH regulations for enhanced health and safety safeguards for users. Sika products that use Purform® can offer
customers major advantages. These include the process efficiency brought by less surface preparation with a simultaneous improvement in adhesive
properties. The new technology also makes reliable, stress cracking-free bonding of plastics possible, and delivers the best compatibility with sensitive
surfaces such as natural stone. Products using the new technology can be extremely weather-resistant and can withstand exposure to UV light outdoors for
considerably longer. Thanks to their high durability, they are also significantly more sustainable.

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Smurfit Kappa (Ireland) offers German businesses a unique integrated
licensing service for recycling
21
Packaging leader Smurfit Kappa has launched a new company called Recycling Dual GmbH to help German manufacturers and retail businesses reduce costs
and improve their sustainability efforts, in line with updated legislation. Recycling Dual offers an innovative and integrated holistic solution to track the entire
life cycle of paper, cardboard and carton packaging. The unique solution highlights duplication which can be removed from the supply chain and reduce
costs. For the first time Recycling Dual guarantees to close the full loop for paper-based packaging for its customers. The service provides them with a
holistic solution to ensure packaging from their products is recycled through a nationwide collection system. From 2021, Recycling Dual will be the only
company in the market with the ability to track the life cycle of paper, cardboard and carton packaging from production through to being recycled. The
company was set up in response to a federal law which was enacted last year requiring stricter recycling requirements for all manufacturers and retailers who
use consumer packaging as part of their supply chain, especially for e-commerce companies with e-commerce packaging. The law requires businesses to buy
licences for the packaging they use, and with costs expected to increase by up to 30% in 2021, this has led to a greater responsibility being placed on
businesses to increase their recycling rates. Additionally, failure to comply can result in significant fines. Recycling Dual organises the collection, sorting and
recycling of sales packaging for businesses across Germany ensuring strict recycling quotas are met. As part of the service, Recycling Dual works in
collaboration with numerous stakeholders including local municipalities and waste management companies.

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Tata Steel (India) launches Galvanova, a new generation steel
22
Tata Steel has launched a new coated product brand named ‘Galvanova,’ a 55% Aluminium-Zinc alloy coated product, to
address the evolving and unmet requirements of the Medium and Small Scale Enterprises (MSMEs) - Emerging Corporate
Accounts (ECAs). Tata Steel, through its close collaboration with ECAs, has been at the forefront of innovation in strategy,
design and production. With the acquisition of Tata Steel BSL in 2018, the Company has enhanced its capacity to produce
world-class coated products. Galvanova is an all-weather durable product with superior corrosion resistance, and has
distinctive white metallic sparkle in appearance. This environment friendly product is scratch protective and has cut-edge
protection. Its anti-finger print coating and brand marking adds to the brand’s authenticity. The product’s double layered
protection coupled with excellent heat insulation properties enables longer life span of up to four times when compared to
ordinary galvanised steel. The product is suitable for various segments including Appliances, Heating Ventilation and Air
Conditioning (HVAC), False Ceiling, Solar Applications, enabling a better yield while harnessing the power of endurance.

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Wood-based FibDex® wound dressing can speed up healing and bring
new convenience to patient care
23
FibDex® is a new wound care product created by UPM in collaboration with researchers from the University of Helsinki and
surgeons and nursing staff from the Helsinki Burn Centre. FibDex is the third biomedical product based on renewable and
responsible wood-based raw materials to be commercialised by UPM. According to patients who took part in the clinical trial,
FibDex was comfortable throughout the treatment. It was found to speed up the wound healing. It was also notable that there
was a significant improvement in scar quality and vascularity. As UPM’s products are newcomers to the biomedical and
clinical applications markets, it will take a lot of work to increase recognition of both the company and its products. In
Finland, FibDex® wound dressing has taken a significant step in its path to market, as leading medical device distributor
Steripolar Oy now sells the product. FibDex was granted the CE-marking in May 2019. This approval was a significant
milestone, allowing the marketing and sale of the wound dressing in the EU. Registration with the US Food and Drug
Administration (FDA) is also pending and will open the doors to US markets in due time.

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UPM (Finland) BioVerno tested in Paulig’s coffee packaging
24
Finnish food and beverage company Paulig is testing UPM BioVerno naphtha, made from tall oil, as a raw material for
its packaging. The first test batch with Paulig Café New York has been successfully packed and released to market.
UPM BioVerno is produced from tall oil, a residue of pulp making, in the UPM Lappeenranta Biorefinery. In the new
laminate tested over the half of the material used in the Paulig coffee packs is tall oil-based. Paulig has ambitious
climate targets, approved by the UN’s Science Based Targets initiative. By 2030 Paulig will reduce the greenhouse gas
emissions from its own operations by 80% and its value chain by 50%. Paulig will also switch to using only packages
that are recyclable and made from renewable or recycled materials by 2030. At the Vuosaari roastery Paulig produces
100 million coffee packs a year. The roastery building’s emissions have been reduced by 98% since 2014, and the
remaining emissions have been offset through carbon finance projects.

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ALROSA (Russia) delivers significant progress in ESG rankings by SAM
S&P
25
ALROSA has significantly improved its ESG score in the Corporate Sustainability Assessment by SAM S&P, one of the most reputable rating agencies to evaluate
sustainable development. Environmental, social, and corporate governance (ESG) performance is an important benchmark for investors in their decision-making.
ALROSA believes sustainable development to be a key factor of long-term resilience, competitiveness, and shareholder and stakeholder value creation. The Company
puts a strong emphasis on improving its sustainability disclosures, which has helped it secure a better position against industry peers in specialist rankings. In 2020, SAM
S&P (formerly RobecoSAM), one of the most reputable rating agencies to evaluate sustainable development, markedly boosted its assessment of ALROSA. The
Company's score for 2019 grew to 34 – more than double the previous year's 15. The agency noted significant progress in environmental and social and supply chain
management as ALROSA scored above average in these categories versus other metals and mining global peers. The Company strives to consistently comply with the
highest ESG standards for operations and disclosures while also continuing to improve its sustainability practices. In 2019, ALROSA’s social investments totalled RUB
12 bn, including pension payments and contributions under regional development programmes, corporate social programmes for employees and their families, as well
as about 500 social and charitable projects. The Company’s environmental expenses amounted to RUB 7.7 bn. ALROSA remains on the FTSE4Good index and maintains
a BB rating from MSCI ESG, which evaluates companies’ environmental, social, and corporate governance performance. On top of that, the Company is among the Top
10 environmentally responsible mining companies in Russia as ranked by WWF Russia and a joint project of UNDP, GEF and the country's Ministry of Natural
Resources. In 2019, ALROSA received a Diamond Empowerment Fund (DEF) award for community stewardship.
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ALROSA (Russia) ranked 2nd in the Forbes rating of the Best Employers
in Russia
26
ALROSA ranked second in the top 50 best employers in Russia rating by the Forbes magazine, moving from number 7 in the last year ranking. This
year’s rating of Russia’s best employers is Forbes’ second. In 2020, in addition to working conditions and corporate social and environmental policies
the final score factors in expert opinion. These were heads of reputable Russian universities, such as RANEPA, NES and Skolkovo School of Business,
and the publication’s board members. Compiling this year’s rating, Forbes paid special attention to charity and sponsorship, as well as to the
environmental policy of companies. Forbes ranked ALROSA second in the list of the best employers in the country with 63.7 points. According to the
study, the diamond miner’s spending on charity and support of local communities in 2019 were one of the highest in the ranked corporates. In 2019,
ALROSA’s social investments totalled RUB 12 bn, including pension payments and contributions under regional development programmes, corporate
social programmes for employees and their families, as well as about 500 social and charitable projects. The Company’s environmental expenses
amounted to RUB 7.7 bn. ALROSA remains on the FTSE4Good index and maintains a BB rating from MSCI ESG, which evaluates companies’
environmental, social, and corporate governance performance. On top of that, the Company is among the Top 10 environmentally responsible mining
companies in Russia as ranked by WWF Russia and a joint project of UNDP, GEF and the country's Ministry of Natural Resources. In 2019, ALROSA
received a Diamond Empowerment Fund (DEF) award for community stewardship.
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ALROSA (Russia) has the Best Manufacturing Execution System in
Mining according to Wonderware international forum
27
ALROSA’s Manufacturing Execution System received the Best MES Mining Project award at the annual Wonderware Online
Forum 2020 dedicated to global industrial automation trends. This year, the forum took place online on November 18-19 and
gathered more than 1,500 participants. At the event, predictive analytics, smart manufacturing, cloud solutions, as well as
digital practices of the leading Russian companies were discussed. ALROSA at the forum presented the implementation of the
Manufacturing Execution System (MES) at mining and processing plants. Organizers named it the best in the mining and
processing category in Russia. Wonderware Online Forum is an annual event dedicated to global trends in industrial
automation and smart manufacturing. The organizer of the forum is Klinkmann / Wonderware Russia & CIS, an independent
partner and authorized distributor of AVEVA solutions in the Russian Federation, the CIS countries, the Baltic States and
Finland. The forum was supported by AVEVA, a specialist in process and operational control solutions, and Schneider
Electric, a world leader in the provision of digital solutions for energy management and automation.
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Fortescue (Australia) receives White Ribbon Australia workplace
accreditation
28
Fortescue Metals Group (Fortescue) has successfully completed the White Ribbon Australia Workplace Accreditation
Program, which recognises the Company’s ongoing commitment to addressing family and domestic violence. Facilitated
by community service organisation Communicare, the program requires businesses to meet 15 criteria under three
standards to demonstrate a safer and more respectful workplace which is taking active steps to stop violence against
women. The internationally recognised program has reached more than 600,000 Australian employees to date. In a further
demonstration of Fortescue’s commitment, Mr Lilleyman will participate in a Family and Domestic Violence
Collaboration Virtual Panel Event, facilitated by the Chamber of Minerals and Energy, to mark Human Rights Day and the
end of the 16 Days in WA – Stop Violence Against Women campaign. White Ribbon Australia is a part of a global social
movement working to eliminate gendered violence, striving for an Australian society where all women and children are
safe, including in the workplace.
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Freeport-McMoRan (USA) Sites Awarded The Copper Mark For
Responsible Production Practices
29
Freeport-McMoRan Inc. is pleased to announce the Copper Mark has been awarded to its first three sites: the Cerro Verde mine in Peru, the El Abra mine in
Chile and the Atlantic Copper smelter and refinery in Spain. The Copper Mark is a new, comprehensive assurance framework that promotes responsible
production practices and demonstrates the industry’s contribution to the United Nations Sustainable Development Goals. It is the first and only framework
developed specifically for the copper industry and enables each site to demonstrate to customers, investors, final manufacturers and other stakeholders their
responsible production performance. FCX initially signed a letter of commitment in September 2020 to commence the application process for six of its
operating sites, with the first three being awarded. The company has plans to validate all of its operating sites against the Copper Mark requirements. To
receive the Copper Mark, copper producers must be assessed independently against a comprehensive set of environmental, social and governance (ESG)
criteria on a site-by-site basis. The framework currently is focused on copper producers at the beginning of the supply chain, but it intends to include
fabricators in the coming years with the goal of establishing a chain of custody for the entire supply chain. The Copper Mark was originally founded and
developed by the International Copper Association (ICA), of which FCX is a member, in conjunction with various stakeholders including financial
institutions, commodities exchanges, Nongovernmental Organizations, Original Equipment Manufacturers, and copper fabricators. The Copper Mark now is
an independent entity and builds on the advice of its multi-stakeholder advisory council.
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MMK (Russia) maintains high position in WWF Russia’s Environmental
Transparency Rating
30
For the second year in a row, Magnitogorsk Iron and Steel Works (MMK) placed in the top ten most environmentally transparent metals and mining companies in
Russia, according to a rating compiled by World Wildlife Fund (WWF) Russia. MMK was named as a company that avoided accidents or controversial
environmental situations in 2020. In 2020, the WWF Russia rating included 40 companies fr om the metals and mining sector. Like last year, MMK took 10th place.
WWF Russia has published its annual ratings since 2017. Their goal is to help reduce the burden on the environment and promote timely and transparent reporting
on the environmental impact of production among business and society. The rating is based on an assessment of three components: the company’s environmental
management, environmental impact and disclosure of information. At the end of the year, MMK took a particularly high position on the third criterion, ranking
6th-9th place. The Company pays great attention to the disclosure of complete and up-to-date information on sustainable development issues: for example, in July
2020, MMK published a report on sustainable development for 2019, compiled according to Global Reporting Initiative (GRI) standards. The rating compilers also
named MMK among the companies which were not party to any accidents or controversial environmental situations during the reporting period. The
environmental agenda is a key element of MMK's work: for example, as part of the development strategy up to 2025, the Company is implementing its Clean City
initiative, the aim of which is to reduce the Comprehensive Air Quality Index in Magnitogorsk, wh ere the Company's main production site is located, to less than
5 units, which corresponds to the definition of a "Clean City". Already in 2019, the Ministry of Natural Resources and Environment removed Magnitogorsk from
the list of cities with the highest level of air pollution.
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NLMK Group (Russia) improves its ESG rating
31
NLMK Group, a global steel company, is pleased to announce that its SAM S&P Global (formerly RobecoSAM) integrated sustainability
score was raised from 33 to 45 points year-on-year as part of a regular review process. NLMK's individual ranking was improved in all
three ESG areas. The most significant improvement was in environmental performance. NLMK is ranked among the top 10% in
occupational health and safety in the steel sector. RAEX-Europe ranked NLMK Group among Russia’s five top-performers in sustainable
development, with the best performance in the steel sector. NLMK Group is the largest steelmaker in Russia and one of the most efficient
in the world. NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing
of power-generation equipment and offshore wind turbines. NLMK operates production facilities in Russia, Europe and the United States.
The Company’s steel production capacity exceeds 17 million tonnes per year. NLMK has a highly competitive competitive cash cost
among global manufacturers and one of the highest profitability levels in the industry. In 12M 2019, the Company generated $10.6 bn in
revenue and $2.6 bn in EBITDA. Net debt/EBITDA stood at 0.7х. The Company has investment grade credit ratings from S&P, Moody’s,
Fitch, and RAEX (Expert RA).
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NLMK Group’s (Russia) healthy living project wins national award
32
NLMK Group, a global steel company, came top in the XIII People Investor 2020: ESG for everyone! Forum corporate projects
competition in the Healthy Living category. The jury applauded the comprehensive approach and effectiveness of NLMK Group's
Healthy Choice project that promotes a healthy living culture in the Company. The first cycle of the project engaged 600 employees. The
Association of Managers has been holding the People Investor competition since 2008. The competition aims to identify and disseminate
best CSR practices and boost the competitiveness of Russian companies. NLMK Group is the largest steelmaker in Russia and one of the
most efficient in the world. NLMK Group’s steel products are used in various industries, from construction and machine building to the
manufacturing of power-generation equipment and offshore wind turbines. NLMK operates production facilities in Russia, Europe and
the United States. The Company’s steel production capacity exceeds 17 million tonnes per year. NLMK has a highly competitive
competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2019, the Company
generated $10.6 bn in revenue and $2.6 bn in EBITDA. Net debt/EBITDA stood at 0.7х. The Company has investment grade credit
ratings from S&P, Moody’s, Fitch, and RAEX (Expert RA).
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NLMK Group (Russia) ranked among top 5 most competitive global steel
companies by World Steel Dynamics
33
NLMK Group, a global steel company, was ranked among Top 5 most competitive global steel companies in the Global Steel
Competitiveness Ranking, established by World Steel Dynamics (WSD), a global research institution for the steel industry. Companies
are ranked based on a set of more than 20 criteria, ranging from the degree of vertical integration, cash cost, and energy efficiency to
innovation, and sustainable development practices. NLMK Group is the largest steelmaker in Russia and one of the most efficient in the
world. NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of
power-generation equipment and offshore wind turbines. NLMK operates production facilities in Russia, Europe and the United States.
The Company’s steel production capacity exceeds 17 million tonnes per year. NLMK has a highly competitive competitive cash cost
among global manufacturers and one of the highest profitability levels in the industry. The Company has investment grade credit ratings
from S&P, Moody’s, Fitch, and RAEX (Expert RA). NLMK’s ordinary shares with a 20.7% free-float are traded on the Moscow Stock
Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share
capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1.
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Polyus’ Investor Relations & Esg Communications Recognized By The
Global Investor Community
34
PJSC Polyus has been presented with awards in several categories in the Moscow Exchange and Institutional Investor Awards:
• Polyus won the Best Corporate by Large Cap Investor Relations Russia 2020
• Polyus also achieved second place for Best Corporate in ESG Russia 2020
• Mikhail Stiskin, Polyus’ Senior Vice President, Finance and Strategy, was awarded third place in the Best CFO in Russia 2020
category
• Victor Drozdov, Polyus’ Director of Business Communications and Investor Relations, was named Russia’s Best IR Professional
2020.
The annual Moscow Exchange and Institutional Investor Awards aim to encourage and celebrate the transparency and quality of
investor communications. The awards are based on a survey of global investors and analysts carried out by Institutional Investor, a
leading global publication covering international finance. The event is among the most highly-regarded investor relations awards in
Russia.
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Fitch Ratings Revises Outlook on PJSC Polyus To Positive And Reaffirms
'BB' Rating
35
PJSC Polyus notes that Fitch Ratings (“Fitch”) has revised its outlook on Polyus to Positive from Stable and reaffirmed
the Company’s ’BB’ Rating. In assigning Polyus a ‘Positive’ Outlook, Fitch noted the Company’s sizeable gross debt
reduction during 2020 as a result of solid operating performance and pro-active refinancing amid current gold prices.
Fitch also highlighted the Company’s leading cost position and strong business profile, which is expected to be
enhanced following Sukhoi Log development. Polyus is the world’s fourth-largest gold mining company by production
volumes and one of two gold miners with the largest attributable gold reserves. The company demonstrates the lowest
production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far
East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
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Polyus (Russia) Improves Its Sam ESG Rating
36
PJSC Polyus is pleased to announce that SAM has revised the Company’s ESG score upwards following the latest SAM
Corporate Sustainability Assessment for 2020. The Company has achieved an improved Total Sustainability Score of 54,
a 9 point increase from last year, compared with an average score of 39 across other rated global metals and mining
companies. Polyus’ Total Sustainability Score surpasses that of 72% of the Company’s peers rated in the 2020 SAM
Corporate Sustainability Assessment (in the 2019 assessment Polyus surpassed 63% of its peers). The increase in score
reflects, among other things, the improvements the Company has made in the field of labor practices and managing
water-related risks in the past year. The SAM Corporate Sustainability Assessment (CSA) is an annual evaluation of
companies’ sustainability practices issued by S&P Global. It is seen as one of the most well-established and highly
regarded corporate sustainability assessments among the global investor community, and assesses over 7,300 companies
around the world every year.
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Polyus' (Russia) Shared Services Center Recognized As One Of Russia’s
Top Corporate Service Centers
37
PJSC Polyus ("Polyus, "the Company, together with its subsidiaries – "the Group") is pleased to announce that the Group's
Shared Services Center (SSC) has received first place in the Efficient Business Processes and Efficient Document Flow
categories at the Best Shared Services Center competition, a competition held annually among Russian corporates. The
results of the competition were announced at the 14th General Service Centers virtual workshop on 9 December 2020. The
awards were held by MSB Events in collaboration with the SSC Club, a community of dedicated service professionals
within Russia. 24 corporate service centers entered the awards in 2020, with Polyus' Shared Services Center participating
for the first time. Polyus is the world's fourth-largest gold mining company by production volumes and one of two gold
miners with the largest attributable gold reserves. The Company demonstrates the lowest production costs among major
global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and
Magadan regions and the Republic of Sakha (Yakutia).
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Rio Tinto’s partnership with SM TAFE, WA Government wins global
award
38
Rio Tinto’s partnership with South Metropolitan TAFE (SM TAFE) and the Western Australian State Government has been globally
recognised at the World Federation of Colleges and Polytechnics 2020 Awards of Excellence. The partnership won Gold in the ‘Partnership
with Industry’ category for its work in developing and deploying the first nationally recognised vocational qualifications in automation. The
World Federation of Colleges and Polytechnics is an international network of colleges and national and regional associations of colleges. A
total of 113 nominations were received for the awards from organisations around the world. In 2017, Rio Tinto committed $2 million towards
the development of automation qualifications to provide pathways to emerging jobs in the field of automation. Since then, pilots for a
Certificate II in Autonomous Workplace Operations, as well as a Certificate IV in Remote Centre Operations, have been completed with
broader enrolments planned for 2021. A pilot micro credential Course in Working Effectively in an Automated Environment qualification is
ongoing with wider enrolment options planned for 2022. Earlier this year, Rio Tinto committed funding toward the upskilling of out of work
apprentices across various industries by covering their fees for the recently accredited micro credential Course in Working Effectively in an
Automated Environment qualification. This initiative will be expanded to selected regional TAFEs in 2021.
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Severstal’s (Russia) improved sustainability performance recognised in
sustainability rankings
39
PAO Severstal, one of the world's largest vertically integrated steel and steel-related mining companies, has been recognized as the leader among Russian mining companies in the
2020 International Corporate Human Rights Benchmark. With a score of 11 out of 26, the Company has also outranked major international metals companies such as ArcelorMittal,
POSCO and NipponSteel. Key criteria of the Corporate Human Rights Benchmark include the integration of human rights issues into corporate governance, the availability of legal
protection, the efficacy of responses to alleged human rights violations and the transparency of information. Severstal has also improved its performance in the SAM Corporate
Sustainability Assessment. The Company was upgraded to 15th place in the global ESG rankings of steel-producing companies in the SAM Corporate Sustainability Assessment
(“SAM”). SAM (now a part of S&P Global - formerly RobecoSAM), one of the most highly-regarded international ESG rating agencies, raised Severstal’s rating by 7 points, from 41
to 48 (out of 100). SAM noted that the ratings upgrade reflected the steady improvements Severstal has been making in its sustainability practices and disclosure. The Company has
consistently improved its ranking. and the improvements have been marked by a continuing upward trend in performance: in 2017, the Company’s score was 15, which rose to 36 in
2018, and 41 in 2019. The most significant improvement in 2020 was in the Ecology section, which is a logical reflection of the Company's extensive environmental protection efforts.
A key part of this was the implementation of programs to reduce pollutant emissions and discharges into water. Severstal's progress in biodiversity conservation and the Company's
climate strategy, which involves reducing the intensity of greenhouse gas emissions by 3% compared to 2020 levels by 2023, were also noted. In 2020, Severstal also confirmed its
participation in the FTSE4Good Index Series and improved its score to 3.5 points out of a possible 5. The index is based on the FTSE4Good ESG rating and is designed to channel
investment into companies that comply with the principles of sustainable development. All companies included in the FTSE4Good Index Series meet the most stringent environmental,
social and governance criteria.
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Izhora Pipe Mill receives remote API certification for the first time
40
Izhora Pipe Mill (ITZ, part of Severstal’s Russian Steel division) has again successfully passed an audit by the API
(American Petroleum Institute) certification body. In a first for both parties, the 2020 audit was performed online. The
API audit is extremely thorough, and the Company spends over a year preparing for it to meet its exacting
requirements. Following the audit, ITZ received a certificate of compliance of the ITZ quality management system
with the requirements of API Specification Q1 and ISO 9001: 2015, as well as an API Monogram license for products
manufactured in accordance with API Specification 5L requirements. Izhora Pipe Mill has also confirmed its
compliance with the requirements for expanding the certification area for API Specification 5L (Appendix N). This will
enable the Company to offer pipes for roll-formed sections with higher strength properties to its customers and, as a
result, increase promotion of its products on the pipe market both in Russia and abroad.
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Smurfit Kappa's (Ireland) strength in innovative design leads to award
success in Brazil
41
Smurfit Kappa has been recognised as a leader in innovative packaging design scooping numerous prestigious awards recently in Brazil. The
ABRE awards recognises packaging which stands out as icons of excellence in quality, technology, design, functionality, sustainability and
innovation. Smurfit Kappa, which has a strong track record in creating innovative and sustainable solutions, won an ABRE award in the
‘Solutions for Retail and E-commerce’ category for confectionery producer Docile using the shelf ready packaging (SRP) solution. Shelf
ready packaging (SRP) get products from case to shelf in one smooth movement rather than decanting single units. The award winning
customised solution for Docile’s Maxmallow product resulted in a 50% reduction in shelf replacement time and led to an 18% increase in sales
due to the more attractive design and consumer friendly packaging. Smurfit Kappa Brazil also won two awards from EMBANEWS in the
‘Technology & Quality’ and ‘Marketing’ categories. The company was awarded for its technological approach to packaging, with use of eye
tracking technology tools. Developed at the Experience Centre in Brazil, this technology captures the movement of consumer's eyes in a retail
environment which helps analyse and provide insights on how attractive and effective packaging is to consumers. The second award was for
a sustainable and durable packaging solution designed for an egg producer which can now offer an e-commerce option to their customers.
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SAIL awarded with Golden Peacock Environment Management Award
2020
42
Steel Authority of India Limited (SAIL) has been awarded with the prestigious Golden Peacock Environment
Management Award for the year 2020 in the Steel Sector by the Institute of Directors. SAIL, as its Corporate
Responsibility for Environment Protection continuously focuses on adopting various environmental measures
including, upgrading of pollution control facilities, treatment & recirculation of wastewater from individual units &
outfalls, enhancement in the green cover in & around Plants & Units, efficient handling of different solid wastes (viz.
process waste, hazardous waste, canteen/township waste), carbon sequestration through afforestation, eco-restoration
of mined out area, among others. Also, the impact of SAIL's initiatives and best practices on improving cleaner
environment, reducing emissions & discharges, mitigating impacts of climate change and helping the Company to
conduct its operations in environmentally benign manner has been recognized.
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Tata Steel (India) recognised as the “Best Organisation Contributing in
Sports Through CSR” at the FICCI India Sports Awards 2020
43
Tata Steel has been recognised as the “Best Organisation Contributing in Sports through CSR” at the FICCI India Sports Awards 2020. The India Sports Awards ceremony took
place on a virtual platform during ‘TURF 2020’ - 10th Global Sports Summit on December 8, 2020. Vice President Corporate Services, Tata Steel, received the award on behalf
of the Company. Sports has been integral to Tata Steel’s philosophy of nation building. It was a tradition started by the Company’s first Chairman, Sir Dorabji Tata, who financed
India’s first Olympic team to Antwerp, Belgium in 1920. In India, Tata Steel spearheads the corporate promotion of sports through its relentless and constant encouragement to
professional sportspersons, amateurs, and its own employees to pursue sports and excel. Six years ago, Tata Steel started the Tata Steel Kolkata 25K, a 25-km run that has a
social cause at its heart – supporting the Tata Medical Centre, a cancer hospital in Kolkata. Tata Steel has also organised running events annually in Jamshedpur and Noamundi
(in Jharkhand) and Bhubaneswar and Angul (in Odisha). This year, in view of the pandemic, the Company organised its first-ever Virtual Run. Tata Steel established the
Jamshedpur Athletic Club in 1927 and started sports competitions for working men, women and their children. The Company set up the Tata Youth Adventure Centre, known
as Tata Steel Adventure Foundation, in 1984. Three years later in 1987, the Company launched the Tata Football Academy followed by the establishment of Tata Archery
Academy in 1996. Indian athletics too received a boost when Tata Steel unveiled the Tata Athletics Academy in 2004. In 2017, Tata Steel for the first time stepped into
commercial side of sports when it started Jamshedpur Football Club (JFC), which competes in India’s premier football league ‘ISL’, a promising platform for budding football
talent to compete with international and national athletes. The same year saw the emergence of Naval Tata Hockey Academy. Besides these Academies, Tata Steel has also
established training centres for 18 sports disciplines including Archery, Athletics, Badminton, Basketball, Boxing, Cricket, Chess, Football, Golf, Handball, Horse Riding,
Karate, Kabaddi, Roll Ball, Swimming, Table Tennis, Tennis and Volleyball.
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Tata Steel (India) features amongst the top five companies in the steel industry in Dow
Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment 2020
44
Tata Steel has ranked amongst the top 5 steel companies in Dow Jones Sustainability Indices (DJSI) Corporate
Sustainability Assessment 2020. The results of the Assessment were declared by S&P Global in the second week of
November 2020. The Company has retained its position in the DJSI Emerging Markets (EM) Index for the 9th year in
a row. Tata Steel is one of the 11 companies from India and one amongst only two steel companies from Emerging
Markets that have made it to the EM Index (comprising 100 companies). Tata Steel Limited has been participating in
the Corporate Sustainability Assessment (CSA) since 2012 and has been a member of DJSI Emerging Markets Index
for nine consecutive years. The DJSI Corporate Sustainability Assessment (CSA) is an annual evaluation of
companies’ sustainability practices since 1999. Each year over 7300 companies around the world are assessed on
Economic/Governance, Environmental and Social dimensions focusing on criteria that are both industry-specific and
financially material.
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CDP recognises UPM (Finland) with an outstanding triple ‘A’ score for its
environmental performance
45
CDP, a global non-profit organisation, has recognised UPM as one of the world’s Triple A List companies for tackling
climate change and taking actions to ensure sustainable forest management and water security. Only ten out of more
than 5,800 companies were able to receive a Triple A recognition and UPM got it for the second year in a row. In 2020
the company has established a Green Finance Framework and issued the first EUR 750 million Green Bond to allocate
assets to projects that enhance sustainable forest, waste and water management, increase energy efficiency and use of
renewable energy as well as promote innovating climate positive products and solutions. UPM is also one of the first
companies to link the pricing mechanism of a syndicated revolving credit facility to both biodiversity and climate
targets. “As a forest and bio products company, receiving an A on Climate, Forest and Water is an extremely valuable
recognition. In January, we signed the UN Business Ambition for 1.5°C with commitment to climate-positive forestry,
ambitious CO2 emission reductions and new product innovations,” says EVP, UPM Stakeholder Relations.
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BHP (Australia) awards LNG supply agreement to Shell for LNG-fuelled
iron ore vessels
46
BHP has awarded its first LNG supply agreement for five LNG-fuelled Newcastlemax bulk carriers, which will transport
iron ore between Western Australia and China from 2022. Shell has been awarded the contract to fuel the vessels, which
BHP will charter from Eastern Pacific Shipping (EPS) for five-year terms. The contract is the result of a tender process
that included potential suppliers across several geographies. Technical capability, available infrastructure and cost
competitiveness were among the stringent criteria. LNG bunkering – the process of fuelling ships with LNG – will take
place through the first LNG bunker vessel in Singapore, “FueLNG Bellina”. The vessel is operated by FueLNG, a joint
venture between Shell Eastern Petroleum and Keppel Offshore & Marine. The bunker vessel will be able to bunker fuel at
a rate of 100-1,000 cubic metres per hour. BHP Chief Commercial Officer, said: “The LNG bunkering contract marks a
significant step in how BHP is working with our suppliers to reduce emissions across the maritime supply chain.”
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Newmont (USA) Announces Musselwhite Conveyor System Achieves
Commercial Production
47
Newmont Corporation announced the successful completion of two key projects at its Musselwhite mine at Lake
Opapimiskan, Ontario, Canada, with the full commissioning of the mine’s conveyor system and the material handling
project. The conveyor system and the material handling systems work in association to efficiently move material from
deeper mine levels to the surface. Haul distances are reduced as the ore crushed at depth will be hoisted from the
underground crushers to the conveyor system and brought to the surface for processing. “I am extremely proud of the work
that has been completed by the team at Musselwhite to safely deliver these two critical projects, whilst managing through
the unprecedented challenges caused by COVID-19,” said Newmont’s President and CEO. “Musselwhite is an important
part of our North America region, and with the commissioning of these two projects is positioned to contribute to
Newmont’s portfolio for many years to come.”
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Severstal (Russia) supplies high-strength grades of skelp steel to Alfapipe
48
PAO Severstal, one of the world's largest vertically integrated steel and mining companies, has resumed deliveries to Alfapipe, a spiral welded steel pipe manufacturer based in
Algeria. Severstal produced 26 thousand tons of X70 grade skelp steel coils to supply to Alfapipe. X70 Grade Steel is one of the highest-strength steel grades, which enables it
to retain its tough properties in harsh climates, for example at very low temperatures. These properties allow this grade of steel to be used for to construct high-pressure
pipelines. To fulfil the exact requirements in terms of metal production and processing, strict adherence to technological parameters is required at all stages - from production
to transportation. The rolled metal was produced at HR Mill 2000, a part of Cherepovets Steel Mill (‘CherMk’ - part of the Severstal’s Russian Steel Division). Opportunities
for using new technologies as part of the optimization process have significantly expanded since the reconstruction of the laminar installation at HR Mill 2000. The investment
project began in Autumn 2019, and involved replacing the former 1975 installation with a new generation of equipment, at a cost of RUB 2 billion. The modernization resulted
in improvements to the cooling accuracy of the strip after hot rolling in the mill, which facilitated the obtainment of uniform mechanical properties along the length and width
of metal products. This will also mitigate potential issues associated with metal processing in future pipe production. In addition, the new laminar cooling unit enables Severstal
to obtain the key properties required for rolled metal, which previously could only be achieved with the help of additional alloying (consumption of ferroalloys) – also reducing
the cost of production. Employees of the Directorate for Technical Development and Quality at Severstal’s Russian Steel Division, as well as employees at the flat-rolled
product lines of CherMk, were involved in completing the order. Accounting for the capabilities of the new equipment, they accordingly adjusted the production technology
used for X70 Grade Steel: in applying new technologies, specialists altered the microstructure of rolled products, achieving higher strength grades due to a significantly
increased cooling rate.
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Teck (Canada) Provides Steelmaking Coal Market Update
49
Teck Resources Limited announced that it has increased its steelmaking coal sales to China for the fourth quarter of 2020 in response
to increased demand. These sales have been at higher pricing levels compared to markets outside China. Estimated total fourth quarter
sales remain within Teck’s existing guidance of 5.8-6.2Mt, with approximately 20% of these sales now to Chinese customers. Pricing
in China for Teck’s steelmaking coal started to increase around the middle of the current quarter when a large portion of our overall
sales were already concluded. Additional spot sales to China were concluded gradually as the price was rising and achieved an
average premium in excess of US$35 per tonne above Australian FOB spot pricing at the time each sale was concluded. Our contract
sales to Chinese customers are also priced on the basis of CFR China price assessments. The most recent three cargos were sold at
prices between US$160/tonne and US$165/tonne CFR China. In a declining coal price environment, our realized coal price relative
to benchmark would normally be lower than the long term average of 92%. As a result of these recent sales at premium prices,
however, we are estimating that our Q4 realized price will reflect that long term average of approximately 92% despite the price drop
for markets outside China where the majority of Teck’s steelmaking coal is sold.
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Global liquid hydrogen consortium established to develop supply chain
between Australia and Japan
50
Fortescue Metals Group (Fortescue) announced that it has signed a Memorandum of Understanding (MOU) with Kawasaki Heavy Industries (Kawasaki) and Iwatani Corporation
(Iwatani) to develop a business model for the supply of liquid hydrogen into Japan. Under the MOU, the three parties will establish the Global LH2 Consortium to facilitate
collaboration for the establishment of large scale, liquid hydrogen production and supply capabilities. The Consortium will focus on joint activities associated with the development
of renewable hydrogen projects in Australia and overseas, with a view to establishing liquid hydrogen supply chains and the distribution and offtake of liquid hydrogen within Japan.
Background
Fortescue has a portfolio of projects underway associated with renewable hydrogen production, including:
• A partnership with the CSIRO for the development of new hydrogen technologies, including a world first membrane technology which provides the potential for large scale
hydrogen extraction from ammonia
• A$32 million hydrogen mobility project at Christmas Creek comprising the construction of a renewable hydrogen refuelling facility and the deployment of a fleet of hydrogen fuel
cell passenger coaches from mid-2021
• A partnership with ATCO Australia to build and operate the first combined green hydrogen production and refuelling facility in Western Australia
• A Memorandum of Understanding with Hyundai Motor Co and CSIRO to advance renewable hydrogen technology for domestic transport
• A feasibility study into a 250MW green hydrogen plant in Tasmania, with a green ammonia production capacity of 250,000 tonnes per annum for domestic use and international
exports
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China’s GEM Co. Ltd and Glencore (Switzerland) extend their long-term
strategic cobalt partnership
51
Glencore and GEM are pleased to announce that they have extended their partnership for the supply of cobalt hydroxide by another
five years and have formally embedded responsible sourcing and sustainability into the contractual relationship. Under the terms of
the agreement, Glencore will provide around 150,000 tonnes of cobalt contained in hydroxide for GEM between 2020 and 2029.
Glencore and GEM are committing each other to annual audits under OECD-aligned standards, specifically, the Cobalt Refiner
Supply Chain Due Diligence Standard developed by the Responsible Minerals Initiative (RMI), Responsible Cobalt Initiative (RCI)
and Chinese Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters (CCCMC). This shared commitment
will help to demonstrate strong responsible sourcing practices and transparency across multiple points along the supply chain. The
Cobalt Institute, which counts Glencore as one of its members, has developed the Cobalt Industry Responsible Assessment
Framework (CIRAF), an industry-wide risk management tool that helps cobalt supply chain players identify production and sourcing
related risks. This long-term strategic cobalt partnership includes a commitment to use CIRAF when communicating publicly on
environmental and social issues specific to the cobalt supply chain.
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Glencore (Switzerland) enters partnership with Tre-Altamira to expand satel-
lite monitoring across its Tailings Storage Facilities
52
Glencore has entered a global agreement with Tre-Altamira to expand satellite monitoring to over 110 of its dams worldwide
making this the largest industry monitoring agreement to date specifically focusing on Tailings Storage Monitoring. The
monitoring provides measurements of surface movements every 11 days which is the current maximum available frequency for
this type of data collection. By taking measurements from both ascending and descending satellite orbit directions, Glencore will
be able to resolve any measured movement on its TSFs into both horizontal and vertical components. The typical resolution on
the ground is 3m x 3m with detectable movement resolution in the order of a few millimetres. Measurement data will be provided
via a cloud based platform which will ensure continuous provision of information. Results of the monitoring will also be used to
support stakeholder engagement and demonstrate the ongoing safe performance of our dams. While the main focus of the satellite
monitoring program will be its Tailings Dams, the data will also be used at some sites to supplement other terrestrial monitoring
techniques which will include open pits, waste piles and areas prone to subsidence.
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Hyosung (South Korea) ITX Joined Forces with SAP Korea to Deliver
Next-Gen Smart Factory Solutions
53
Hyosung ITX joins hands with SAP Korea, a global IT company to build next-generation smart factories for Hyosung Group. Hyosung ITX announced
on Dec. 8th that it has signed an MOU with SAP Korea at the SAP Design App Haus in Pangyo to join forces to build smart factory solutions together.
Smart factory solutions refer to a systematic approach to the collection and analysis of various data from the entire process including manufacturing,
production, and sales to help make critical decisions fast and accurately. With the agreement, Hyosung ITX can bolster its future forecasting features
by combining SAP′s customer relationship management (CRM) solutions and SAP subsidiary Qualtrics′ experience management solutions with its
production management solutions called ′XTRM FACTORY′ that it developed in 2018 and has installed in Hyosung Group′s numerous industrial sites
at home and abroad. Equipped with SAP solutions, Hyosung ITX will be able to classify its customers more systematically based on a database of
customers′ buying pattern analysis, forecast their future preference and tastes, and respond to the changes proactively. SAP Korea Vice President Kim
Beom-jae said, ″Through the MOU, SAP Korea expects to help Hyosung ITX apply advanced customer insights to all its business areas from product
design to service to asset management to be able to boost its business value.″ Hyosung ITX is planning to lighten its data load based on SAP Korea and
Cloud ERP (S/4HANA) solutions to be able to visualize images more quickly on either a web or mobile environment while maintaining security upon
accessing systems in any circumstances in a bid to continue expanding its efforts for digital transformation (conversion).
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Rio Tinto (UK) and Tsinghua University extend partnership on resources,
energy and sustainable development
54
Rio Tinto has further strengthened its partnership with China’s Tsinghua University, signing a new partnership agreement and
committing a further 30 million yuan ($4.5 million) over the next five years to support research projects of at the Tsinghua-Rio Tinto
Joint Research Centre for Resources, Energy and Sustainable Development. The partnership will continue to focus on sustainability
issues, particularly those that support Rio Tinto’s 2050 net zero carbon emissions strategy and the company’s collaboration to reduce
carbon emissions and improve environmental performance across the steel value chain as part of the separate Rio Tinto-China Baowu
Steel Group-Tsinghua University Partnership. Rio Tinto and Tsinghua University established the Joint Research Centre in 2012 to
bring together leading experts from China and around the world to study, generate and share ideas and best practice for sustainable
development. Over the last eight years, the partnership has delivered over 90 research papers on sustainability topics, with multiple
policy recommendations submitted to the Chinese authorities. Rio Tinto chief executive and Vice Chairman of China’s National
Experts Panel on Climate Change, Tsinghua University former executive vice president witnessed the signing of the agreement to
extend the partnership at a ceremony in Beijing.
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