I-Bytes Resources industry

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I-Bytes
Resources
September Edition 2020
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates..................................................................................................................................................8
3. Rewards and Recognition Updates...................................................................................................................13
4. Customer Success Updates................................................................................................................................18
5. Partnership Ecosystem Updates.......................................................................................................................21
6. Miscellaneous Updates......................................................................................................................................30

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Financial, M & A
Updates Resources Industry

Financial, M&A Updates
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ALROSA (Russia) reports its August 2020 diamond sales results
• Sales of rough and polished diamonds in August increased to $216.7 million, including
proceeds from rough diamond sales of $202.1 million, and polished diamond sales of $14.6
million.
• For eight months of 2020, total rough and polished diamond sales accounted for $1,244
million, including $1,180 million of rough diamond sales and $63.6 million of polished.
Executive Commentary
“Given that demand for diamond jewelry is gradually recovering in recent months,
specifically in the U.S. and China, and diamonds’ stock levels keep declining at both
retail and midstream, we see the demand for rough diamonds is picking up, which is a
good sign as we approach seasonal growth in market activity in Q4. Hopefully the
support we offered our long-term clients in March-August has a positive effect on
restoring the supply/demand balance and helps the diamond market to overcome the
most challenging period,” said Deputy CEO of ALROSA.
1
Key Financial Highlights

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Barrick (Canada) Sells Stake in Morila to Focus on Tier One Assets
Barrick Gold Corporation and AngloGold Ashanti Limited have agreed to sell their 80% interest
in the Morila gold mine in Mali to Mali Lithium Limited for cash consideration estimated at
between $22 million and $27 million, depending on closing adjustments. The sale is subject to
certain conditions, including the acknowledgement of the transaction by the state of Mali, which
holds the remaining 20% of the Morila gold mine. Barrick said the decision of the current
shareholders to sell their stakes in Morila, which it operates, offered the potential for the mine to
continue under a new ownership structure which would bring access to additional resources and
a different approach to how the infrastructure is used to extend the life of operations. This would
allow Barrick to focus on its strategy of discovering, developing, owning and operating Tier
One1 assets. The parties are targeting the closing of the deal before end of October 2020. The
discovery and development of Morila, which poured its first gold in October 2000, laid the
foundation for Barrick legacy company Randgold Resources’ growth into one of the world’s
leading gold miners. Known in its heyday as “Morila the Gorilla”, the mine produced 6.9 million
ounces of gold and paid more than $2.5 billion to its stakeholders in the form of taxes and
dividends. It served as the base for Randgold’s expansion into Africa, among other things through
the development of Loulo-Gounkoto in Mali and Kibali in the Democratic Republic of Congo.
Both these mines are now part of Barrick’s Tier One portfolio. In 2015, Morila transitioned to a
stockpile and tailings treatment facility and was forecast to close in 2021.
Barrick’s chief operating officer for Africa and the Middle East, said the proposed acquisition
by Mali Lithium Limited offered an opportunity for a new owner to extend the life of the
mine by utilising the existing infrastructure, applying different planning and evaluation
criteria, and accessing additional satellite resources which would continue to benefit Morila’s
in-country stakeholders.
Description
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Boliden (Sweden): Investment in nickel expansion at Boliden Harjavalta
Barrick Gold Corporation and AngloGold Ashanti Limited have agreed to sell their 80% interest
in the Morila gold mine in Mali to Mali Lithium Limited for cash consideration estimated at
between $22 million and $27 million, depending on closing adjustments. The sale is subject to
certain conditions, including the acknowledgement of the transaction by the state of Mali, which
holds the remaining 20% of the Morila gold mine. Barrick said the decision of the current
shareholders to sell their stakes in Morila, which it operates, offered the potential for the mine to
continue under a new ownership structure which would bring access to additional resources and
a different approach to how the infrastructure is used to extend the life of operations. This would
allow Barrick to focus on its strategy of discovering, developing, owning and operating Tier
One1 assets. The parties are targeting the closing of the deal before end of October 2020. The
discovery and development of Morila, which poured its first gold in October 2000, laid the
foundation for Barrick legacy company Randgold Resources’ growth into one of the world’s
leading gold miners. Known in its heyday as “Morila the Gorilla”, the mine produced 6.9 million
ounces of gold and paid more than $2.5 billion to its stakeholders in the form of taxes and
dividends. It served as the base for Randgold’s expansion into Africa, among other things through
the development of Loulo-Gounkoto in Mali and Kibali in the Democratic Republic of Congo.
Both these mines are now part of Barrick’s Tier One portfolio. In 2015, Morila transitioned to a
stockpile and tailings treatment facility and was forecast to close in 2021.
"We are now continuing on our nickel strategy that began in 2015. The investment
strengthens our productivity and competitiveness while further improving our already very
strong environmental performance," says President of Business Area Smelters. "The
investment is also very well coordinated with the facility's maintenance needs."
Description
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CEMEX (Mexico) invests US$280 million to improve air quality around the world
CEMEX, S.A.B. de C.V. reaffirms its commitment to the goal of improving air
quality in cities and surrounding areas. CEMEX has invested over U.S.$280 million
since 2013 in technology to measure, control, and mitigate the gas and particle
emissions in its operations. Through this continuous investment, the company has
introduced international standards consistent with the world's strictest emissions
regulations throughout its operations. As a result, by the end of 2019, CEMEX
achieved significant emissions reductions when measured against its 2005 baseline,
the year when the company initiated its investments to improve its air quality. As of
December 31, 2019, CEMEX has reduced dust emissions by approximately 90%,
sulfur emissions (SOx) by almost 60%, and nitrogen oxides (NOx) by close to 50%.
CEMEX is a global building materials company that provides high quality products
and reliable services. CEMEX has a rich history of improving the wellbeing of those
it serves through innovative building solutions, efficiency advancements, and efforts
to promote a sustainable future.
"Currently, 95% of our cement plants have an ISO 14001 certification, which
confirms our commitment to the most rigorous environmental standards, while
97% of our production facilities have already implemented a continuous
monitoring system for the principal air pollutants. These systems are designed to
allow us to adjust in real-time, seeking to ensure that we always comply with the
limits established under the world's strictest regulations. The COVID-19
pandemic reminds us once again of the importance of clean air and blue skies to
our health and wellbeing. This explains our commitment to continue investing in
mitigating our emissions in every one of our operations in the world," said CEO
of CEMEX.
Description
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Fosun International (China) Announces 2020 Interim Results
• In the first half of 2020, Fosun’s global businesses, affected by the unexpected
COVID-19 epidemic, encountered varying degrees of challenges. During the
Reporting Period, the Group’s total revenue amounted to RMB63.27 billion. Profit
attributable to owners of the parent reached RMB2.01 billion.
• The Company’s financial position remains healthy. As of 30 June 2020, the total
debt to total capital ratio was 56.9%.
• During the Reporting Period, the Group actively enhanced its liquidity,
successfully issued RMB18.76 billion bonds in the public market and successfully
raised a syndication loan approximately US$1.2 billion equivalent.
• During the Reporting Period, the average financing cost was 4.72%, 0.34
percentage point lower than that of the full year of 2019. Healthy debt ratios and
strong liquidity reinforce the Group’s capability to withstand risks and support the
Group to seize investment opportunities.
Chairman of Fosun International, said, “Facing the epidemic of COVID-19 in the
first half of 2020, we have turned crisis into a driving force through the evolution
of the organizational mechanism. While actively supporting the global fight
against the epidemic, we rapidly promoted the post-epidemic recovery and
transformation of our businesses. In the 28 years since its founding, Fosun has
continued to evolve and develop amid market and industrial cycles. Leveraging
its spirit of innovation and strong business resilience, we can always seek
opportunities in crisis. I believe that, after going through the epidemic, we will
come out stronger and create more values for our shareholders.”
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Mondi (UK) to invest in Szczecin plant in Poland to expand and broaden e-commerce
portfolio
Mondi, a global leader in packaging and paper, has successfully completed the
installation of major new equipment at its corrugated box production plant in
Szczecin, Poland to meet growing e-commerce demand. The installation of the new
machinery also marks further progress in Mondi’s ambition to further digitalise its
business by using more advanced analytics and automation to better serve its
customers with innovative and sustainable packaging and paper solutions. The new
equipment includes a five-colour Bobst Masterline 2.1 HD and a Robot MUK, which
will produce sustainable packaging solutions for the growing e-commerce market in
north-eastern Germany, Denmark, Sweden and Poland. Both machines will be
equipped with automatic palletisers, run at faster speeds to increase production
capacity and ensure high quality printing. Mondi's award winning 100% recyclable
SizeMeMailer and Envelope Mailer alongside other packaging solutions will be
produced from this site.
“This investment in our Szczecin plant has strengthened our e-commerce
packaging approach. With our expanded range of sustainable solutions, like our
award winning SizeMeMailer and Envelope Mailer, and greater production
capacity, our customers will enjoy more packaging options and faster deliveries.
In parallel, the arrival of these new machines will result in reducing our energy
consumption as we focus on limiting our carbon footprint in order to contribute
to a better world.” Says COO, Mondi Corrugated Solutions
Description
6

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PJSC Polyus (Russia): Financial Results For The Second Quarter Of 2020
• Total gold sales volumes amounted to 672 thousand ounces, up 24% compared to the first quarter of
2020. This includes 26 thousand ounces of gold contained in concentrate from Olimpiada.
• Revenue for the second quarter 2020 totalled $1,157 million, up 33% compared to the previous
quarter. This was driven by higher volumes of refined gold output from almost all hard rock deposits,
as well as the start of the washing season at Alluvials. At the same time, the average realised refined
gold price was 8% higher than in the first quarter, at $1,723 per ounce.
• The group’s TCC for the second quarter decreased 14% to $340 per ounce compared to $394 per
ounce in the previous quarter. This reflects higher average grade in ore processed at Olimpiada (3.47
grams per tonne in the second quarter compared to 3.20 grams per tonne in the first quarter) and
Natalka (1.76 grams per tonne in the second quarter compared to 1.59 grams per tonne in the first
quarter), in addition to local currency depreciation on average during the quarter. These factors were
supported by lower maintenance expenses during the reporting period.
• Adjusted EBITDA for the second quarter 2020 amounted to $860 million, a 46% increase compared
to $589 million in the previous quarter, driven by higher gold sales volumes and higher gold prices
during the period.
• Adjusted net profit amounted to $485 million in the second quarter of 2020, remaining flat compared
to the previous quarter.
• Net cash generated from operations was $652 million in the second quarter, compared to $544
million in the previous quarter.
• Capital expenditures («capex») for the period remained largely flat, at $127 million, compared to
$124 million in the previous quarter.
• The net debt (incl. derivatives)/adjusted EBITDA ratio decreased to 0.8x compared to 1.1x as at the
end of the previous quarter, reflecting a lower net debt position and adjusted EBITDA growth over the
last twelve months.
Chief Executive Officer of PJSC Polyus, commented: “Polyus delivered solid financial results in
the second quarter of 2020. A strong operational performance and the ongoing favourable gold
price environment drove a 46% quarter-on-quarter increase in the Company’s adjusted EBITDA,
which stood at $860 million. Polyus remained strongly free-cash-flow positive in the reporting
period, with almost $450 million of levered free cash flow, bringing the first half figure to $709
million. Polyus has further enhanced corporate governance structure with the appointment of
Maria Gordon as Senior Independent Director in line with best market practices. We believe
Maria will add significant value in this role with her extensive board experience in public
companies and strong financial and capital markets expertise. Polyus continues its efforts to
mitigate risks posed by COVID-19, while all the Company’s operations remain uninterrupted.
With strict COVID-19 protocols in place at all sites, the safety of thousands of our employees and
their families is our absolute priority.”
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Solutions Updates
Resources Industry

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Solution Updates
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EVRAZ (UK) pioneers Hunt for Risk mobile app to fight workplace risks
8
Solution Description
EVRAZ developed the mobile application Hunt for Risk to identify and address workplace risks. This is a unique project for a major steel and
mining company in Russia: involving gamification techniques, it helps enhance the safety culture across the business. EVRAZ workers use the app
to capture unsafe areas or processes at or near their workplaces and upload the snapshots to the central database to obtain guidance on handling
hazards and/or have risks addressed by specialists. Risk alerts will be pushed to dozens of responsible roles within EVRAZ, including top
management. In the application’s backend, all risks are classified and assigned measures to address them, making Hunt for Risk a universal tool
for all EVRAZ’s Divisions. Another functionality the app supports is recording unsafe work refusal. To use the anti-risk application, risk
prevention measures must be observed, too: take photos from safe vantage points and only where smartphones are permitted, or use text messages
instead. For each risk identified, workers accrue points, which can be exchanged for prizes and branded souvenirs. EVRAZ is actively
implementing cutting-edge technology and digital solutions as part of its Digital Transformation programme. The company prioritised several
areas, including advanced analytics, expert systems, mobile solutions, electronic document flow, and video analytics. Digital tools are
implemented at manufacturing sites and in internal communications. EVRAZ mobile apps enjoy a total usership of over 30,000.

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Solution Updates
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MMK (Russia) introduces new IT services in its blast furnace shop
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Magnitogorsk Iron and Steel Works (MMK) has launched an automated system for dispatching mixers for transporting liquid pig iron at its blast furnace shop.
Mobile mixers are used to transport liquid pig iron fr om the blast furnace shop to the plant's oxygen converter shop. The new system allows the Company to
provide the technological staff of the blast furnace shop – in particular, the production dispatchers – with up-to-date information about the location and condition
of mixers. The system is based on radio frequency identification (RFID) technology. Each mixer is equipped with an RFID tag, which is identified during the
passage of certain sections of MMK railway track. The main task of the system is to ensure the timely installation and output of mixers under the blast furnaces
for draining pig iron and its transportation to the oxygen converter shop. This ensures compliance with the production schedule and control over the supply of liquid
pig iron to the plant's converters. The mixer dispatching system, which covers the entire blast furnace shop, allows the staff to see and evaluate when the mixer will
be put under a specific blast furnace and wh ere it is currently located. While previously the furnace's process staff had to leave the control room to get this
information, they can now see it by simply opening a tab on their computer. The information received from the radio frequency tags allows the furnace master to
estimate the start time for the production of melting products and take technological or organizational measures to oversee the process, for example, by alerting
the dispatcher. Employees of MMK's oxygen converter shop, which receives the liquid pig iron, also have access to this system and can adjust their work if
necessary. The latest system of dispatching mixers in the blast furnace shop is not the only example of radio frequency tags implemented at MMK. In particular,
they have been used to implement a multi-turn fastener tracking system, thanks to which specialists at MMK's logistics department and the wagon preparation shop
of Remput LLC can quickly monitor the life cycle of multi-turn fasteners using a mobile terminal. Experience shows that RFID tags are an effective technology
that makes it possible to quickly read information in the difficult conditions of metallurgical production.

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Solution Updates
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MMK (Russia) develops its quality management system
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The main aim of Magnitogorsk Iron & Steel Works (MMK) in terms of quality control is the development and production of high quality, competitive metal products, capable of fulfilling the
demands and expectations of Russian and international consumers and ensuring the financial stability of the company. This target is fixed in MMK’s Quality Policy. At present, MMK has 57
active Certificates of Conformity for its products, the validity of which is constantly confirmed by periodic inspections and checks by the certifying authorities. At MMK, the following
management systems have been implemented and certified to be in line with international standards: QMS: ISO 9001, IATF 16949 and CTO Gazprom 9001; EMS: ISO 14001; ISLPMS:
OHSAS 18001. Certification of adherence to the latest standards of ISO 45001 is planned for September 2020. MMK uses the following methods and instruments for the control and
development of management systems: integrated internal audits of the quality management system (QMS), environmental management system (EMS) and industrial safety and labour
protection management system, conducted by specialists of the quality system group. Audits of the QMS include an audit of the system, an audit of the process and an audit of the product.
Additionally, the production units see a thrice-weekly product audit by specialists of the plant’s department of product control and technical services, which is conducted according to a
specially developed unified checklist. Monthly audit compilation reports are put together based on these checklists, which are then passed on to the highest management and other relevant
authorities of MMK. These results are also an integral part of the monthly quality control analysis of the production units. At present, a project aimed at conducting multi-level
“comprehensive” audits of production units at the steelmaking and rolling shops is being implemented at MMK. Audits are conducted by representatives of the production units, the product
control department, technical services and the plant’s external acceptance specialists. Audits are conducted on a weekly basis according to checklists developed individually for each unit of
machinery in the shop. A “Unified information system for the management of corrective measures based on inspection results” has been implemented, which ensures that shop workers respond
swiftly to emerging issues with product quality. The system also makes it possible to evaluate the results of newly developed corrective and restrictive measures and to control the individual
involvement of working group members in the development and approval of restrictive measures.

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Solution Updates
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Stora Enso (Finland) to build a pilot plant for bio-based packaging foam
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Stora Enso will build a pilot facility for producing Cellufoam™ by Stora Enso, a lightweight, fiber-based foam material for protective packaging and
cushioning. Bio-based foams are renewable and recyclable and can be used in packaging, for example, to replace oil-based polymer foams which are
widely used today. The pilot plant will be located at Stora Enso’s Fors Mill in Sweden. Cellufoam™ by Stora Enso is a sustainable packaging material
and it further increases Stora Enso’s opportunities to replace fossil-based materials with renewable and recyclable materials. The initial target
application for Cellufoam™ will be the protective packaging of fragile products, for example in consumer electronics. Bio-based foams also have the
potential to replace polymeric foams in a range of markets and applications where the demand for sustainable materials is increasing, such as sports
equipment, thermal insulation in shipments and as a growth medium in soil-free farming, among other areas. Stora Enso’s pilot aims to evaluate and
validate Cellufoam™ as a packaging foam in customer tests and to further develop the production process. The new pilot plant will be part of Stora
Enso’s Biomaterials division. The design and engineering of the pilot facility will start immediately. It is estimated that the plant will be ready in the
fourth quarter of 2021. Decisions about commercialisation will follow, after evaluating the results of the pilot-scale production.

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Solution Updates
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Tata Steel’s (India) Nest-In develops Covid-19 Swab Collection Unit to minimise
contamination risk for healthcare workers
12
Nest-In, the construction solutions business venture of Tata Steel, has developed an innovative Covid-19 Swab Collection Unit that ensures a risk-free
and safer sample collection process. With the growing need to tackle the highly contagious Covid-19 virus, it has become critical to ensure an increase
sample collection for testing, and in a hassle-free and safe manner, for both - the healthcare professionals and the patients. The Nest-In design &
development team spent days interacting with medical professionals and studying the existing units in the market to identify pain points and derive
insights. Post their study, they developed an innovative unit which ensures contact-less exchange of test-tubes and is equipped with a two-way mic and
speaker system that allows clear communication between the healthcare professional and the patient. The unit is spacious and is built using insulated
sandwich panels to provide an ambient and comfortable environment inside the unit. The unit is also equipped with an in-built disinfectant spray that
eliminates the need for an additional resource to sanitise the unit after each sample collection, thus reducing the risk of infection. The toughened glass
ensures clear visibility as well as safety of both healthcare professionals and patients. The Covid-19 Swab Collection Unit can be used by hospitals,
testing labs as well as by commercial and industrial firms inside their manufacturing plants and townships. The Company will be producing units on
the basis of orders received and has the capability to serve the requirements across the nation.

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Rewards & Recognition

R & R Updates
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Intelligent construction project from CEMEX (Mexico) and Matter Design is awarded
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CEMEX, S.A.B. de C.V. reported that the project Walking Assembly, which was developed in conjunction with the architectural firm Matter Design, received the
R + D 2020 award, as part of the 14th Annual R + D Awards, organized by Architect Magazine, for being “scalable, thought-provoking, and promising in achieving
a more equitable and healthy built environment.” Walking Assembly consists of large concrete blocks specially designed to be transported and interlocked without
dependence on heavy machinery, which allows us to imagine a new type of simple, economic and low environmental impact concrete-based construction. The joint
work between Matter Design and CEMEX involved the design, engineering and development of the concrete blocks, between 500 and 700 kg in weight, so that
they can be moved, assembled and disassembled intelligently, using the power of a single person through their own hands, without the need for cranes or loading
equipment. The development of Walking Assembly is a collaboration between American design firm Matter Design, led by architect Brandon Clifford and designer
Johanna Lobdell, and CEMEX's Research and Development team, led by Davide Zampini, Head of CEMEX Global R&D and IP Management, who supported the
idea from the start to the final production of each of the pieces that comprise the project. For elaborating the blocks, advanced computational calculation and design
methods were combined with the use of special concretes of different densities, so that variable centers of gravity were calibrated with extreme precision that
allowed controlling the stability and ease of movement of each one of the elements.
R&R Description

R & R Updates
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EVRAZ (UK) amongst 50 top Russian brands
14
EVRAZ plc has entered the top 50 ranking of the most valuable and strongest Russian brands provided with leading independent brand
valuation consultancy Brand Finance. For more than 20 years, it evaluates the world’s biggest brands. EVRAZ has been valued by Brand
Finance for the first time in 2020. The company is the most valuable new entrant to the top 50 this year, according to consultancy, taking 34th
place in the ranking, and presenting itself as a viable competitor to other mining, metal & steel companies. Recently EVRAZ presented its
refreshed corporate brand with a new tagline — For A Better Future. The new brand concept was developed together with international
branding agency Siegel+Gale.
R&R Description

R & R Updates
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Fosun International (China) improves MSCI ESG rating to grade A
15
The world's largest index company MSCI announced the results of Fosun International's 2020 ESG rating. In recognition of its outstanding performance in its ESG
strategy, corporate governance, information disclosure, responsible investment and anti-corruption, Fosun International's MSCI ESG rating has improved from
BBB last year to A in 2020. The MSCI index is the most used benchmark index by global portfolio managers, and its ESG rating results have become an essential
basis for investment decisions by major investment institutions around the world. The MSCI ESG rating is mainly based on such public information as corporate
ESG reports, websites and news releases. It evaluates the company's sustainability performance from the perspective of ESG, assesses the ESG risks faced by the
company, and identifies opportunities for the company's core business and ESG issues about which the industry is concerned. In the past year, Fosun International
has improved its policies on and systems for ESG management and put in place with various ESG management measures. Fosun International has established an
ESG Committee under the Board of Directors to supervise and govern ESG matters at the level of the board. It has also set up an ESG working group to implement
various ESG measures to enhance its ESG management comprehensively. Fosun International has also announced various anti-corruption policies and systems,
which clearly prohibits bribery, corruption, blackmail, fraud and other behaviours that can tarnish the company's reputation and interest. The Company has also
established a code of conduct for its suppliers throughout the entire value chains of its businesses to fulfill its ESG commitments.
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Fosun International’s (China) HSI ESG rating upgraded, Selected as constituent of
Hang Seng Corporate Sustainability Benchmark Index
16
The changes in the composition of the Hang Seng Corporate Sustainability Benchmark Index come into effect and Fosun International has been selected as
constituent of the benchmark index for the first time. The benchmark index comprises 89 Hong Kong-listed companies which have performed outstandingly in
corporate sustainability. Fosun International’s inclusion in the index demonstrates the market’s recognition of the company's efforts in sustainable development.
Recently, two ESG (Environmental, Social and Governance) ratings of Fosun International have been upgraded. On 31 August, the world’s largest index company
MSCI upgraded Fosun International’s 2020 ESG rating from BBB last year to A this year for the company’s outstanding performance in its ESG strategy, corporate
governance, information disclosure, responsible investment and anti-corruption efforts, etc. Due to the excellent performance in corporate governance and fair
operating practices, Fosun International's 2020 Hang Seng Sustainability Index rating was upgraded from A last year to A+. Fosun International was selected as a
constituent of the Hang Seng Corporate Sustainability Benchmark Index on 7 September by Hang Seng Indexes Company Limited. This is the company’s another
achievement in Hang Seng Indexes since it was included in the Hang Seng China Enterprise Index in September 2019. In recent years, the world has paid more
attention to the sustainable development of corporations. Therefore, the scale of investment in sustainable development worldwide continues to expand. The Hang
Seng Corporate Sustainability Benchmark Index is one of the well-recognized, important indexes in the capital market, and serves as an objective and reliable
reference for worldwide investment in sustainable development. The research findings of Hang Seng Indexes Company Limited show that the stocks in the Hang
Seng Corporate Sustainability Benchmark Index have provided better returns for the long term than those in the Hang Seng Index.
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Suzano (Brazil) wins two categories of the ABTCP Sector Highlights Award 2020
17
The Suzano, global reference in the bioproducts manufacturing developed from the eucalyptus cultivation has been voted the best in the industry into two
categories Highlights Award Sector 2020, the most important award of the pulp and paper delivered by the Brazilian Technical Association Cellulose
(ABTCP). In this edition, Suzano received the awards in the Sustainability and Market Pulp Manufacturer categories. The award, which has been taking place
for 20 years, honors and recognizes the most respected manufacturers and suppliers on the market. All companies associated or not to ABTCP participate in
the Sector Highlights Award.
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Customer Success

Customer Success Updates
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NLMK (Russia) supplies electrical steel with low magnetic losses to Ruselprom Group
18
NLMK Group, a global steel company, has supplied electrical (non-grain-oriented) steel to Ruselprom, one of the largest Russian manufacturers of
electrical equipment, for the production of electric propulsion motors and marine generators. This advanced steel is characterized by ultra-low specific
magnetic losses: 30% lower than for its commercial counterparts. The steel’s magnetic and mechanical properties enable the production of electrical
equipment that is more powerful and energy-efficient. The use of NLMK steel has enabled Ruselprom Group to discontinue the purchase of imported
equivalents and to boost the competitiveness of its products. NLMK is a leader on the Russian non-grain-oriented steel market. The company has the
competencies required to develop innovative electric steels and is constantly working to develop new grades with improved properties. 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.
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Rio Tinto’s (UK) Kennecott operation the first to achieve The Copper Mark for responsible
production
19
Rio Tinto’s Kennecott site in the US is the first producer to be awarded the Copper Mark, the copper industry’s new independently assessed responsible
production programme. The Kennecott operation in Utah has demonstrated it meets over 30 criteria for responsible environmental, social and
governance practices. The Copper Mark is the first and only programme for responsible production in the copper industry. Originally developed by the
International Copper Association with input from a broad range of stakeholders including customers, NGOs and producers, the Copper Mark is now an
independent entity with a multi-stakeholder council. In 2017, the International Copper Association decided to explore responsible sourcing strategy
options for copper. The Copper Mark concept was subsequently developed utilizing the United Nations Sustainable Development Goals as a framework
and was developed to demonstrate that copper is not only being produced responsibly but is also an important contributor to society’s overall sustainable
development goals and local community needs. After extensive stakeholder consultation, pilot assessment with 25 member companies, and standards
refinement, The Copper Mark was launched on 30th March 2020.
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Smurfit Kappa's (Ireland) Vitop tap surges past the 5 billion mark
20
Smurfit Kappa, a FTSE 100 company and leading provider of innovative Bag-in-Box packaging solutions, has seen volumes of its Vitop® tap pass the five billion
mark. The Vitop® tap forms an integral part of the Smurfit Kappa Bag-in-Box range, a collection of sustainable packaging solutions for liquid and semi-liquid
products. The Bag-in-Box products have a low carbon footprint throughout the lifecycle of the packaging due to the efficient use of materials and resources. There
has been a series of sustainable innovations made to the product range to date including a reduction in film thickness for the bags and the introduction of a more
compact Vitop® tap. A dedicated Bag-in-Box Circular Economy Team is also exploring further product innovations including the introduction of bio-based raw
materials. First designed in 1989 and produced at the Smurfit Kappa state-of-the-art facility in Alessandria, Italy, the Vitop® tap has revolutionised Bag-in-Box
packaging through a combination of its tamper-proof design and high oxygen barrier that significantly contributes to extend product freshness and shelf life.
Combining science, design and convenience, its success is also partly due to the fact that it is extremely easy to use. Smurfit Kappa has seen a significant rise in
demand for its Bag-in-Box products in recent years. While initially used primarily for wines, the Bag-in-Box portfolio has been extended to include solutions for
a wide range of food products including fruit juice, water, dairy produce, olive oil and also non-food products such as detergent and motor oil.
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Partner Ecosystem

Partner Ecosystem Updates
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Barrick (Canada) Strengthens Tanzanian Economic Partnership with Appointment of
Local Security Company
21
In line with its policy of leveraging its supply chain and procurement to maximize local economic development, Barrick Gold Corporation has
appointed Nguvu Moja Security Services Limited (NMSS), a 100% Tanzanian owned and managed company, to replace an international security
firm at its Tanzanian gold mines. Already active at North Mara, NMSS will also be fully deployed at the Bulyanhulu and Buzwagi mines by the
second week of September, taking the total number of Tanzanian security personnel working at the mines and the administration office in Dar es
Salaam to 462. Barrick’s chief operating officer for Africa and the Middle East, says NMSS employees have been fully trained in the basic legal
principles regarding security and the legal framework they work in, the conduct of security personnel, the effective use of their equipment and,
importantly, International Security and Human Rights Principles and the Voluntary Principles on Security and Human Rights. Their drivers have
also undergone advanced training. Our supply chain is one of the most direct ways that our operations can improve and create economic
opportunities for members of our host communities. This in turn supports our licence to operate while creating effective and stable supply chains
close to our mines,”
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Fortescue (Australia) joins forces with Hyundai and CSIRO to fast track development
of hydrogen technology
22
Fortescue Metals Group (Fortescue) announced that it has signed a Memorandum of Understanding (MOU) with Hyundai Motor Company
(Hyundai) and the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to advance scientific collaboration and accelerate the
development of renewable hydrogen technology. The MOU outlines areas of cooperation that involve the development and future
commercialisation of the metal membrane technology (MMT) which has been developed by the CSIRO, supported by a landmark partnership with
Fortescue. Hyundai will seek to demonstrate the viability of the technology for renewable hydrogen production and vehicle fuelling in Korea.
Fortescue has a portfolio of projects underway associated with renewable hydrogen production, storage and use, including:
• Entering a five year partnership with the CSIRO in 2018 for the development of new hydrogen technologies, including the MMT which provides
the potential for the bulk transportation of hydrogen through ammonia
• Construction of a renewable hydrogen refuelling facility at its Christmas Creek operations to support the deployment of a fleet of hydrogen fuel
cell coaches from mid-2021
• Partnering with ATCO Australia to build and operate the first combined green hydrogen production and refuelling facility in Western Australia,
to support the transition to the next generation of zero-emission transport
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Fortescue Future Industries (Australia) and Minderoo Foundation in Indonesia
23
Fortescue Future Industries Pty Ltd, a wholly owned subsidiary of Fortescue Metals Group Ltd (Fortescue) has entered into a Deed of Agreement
with the Government of the Republic of Indonesia. In an important development, the Government of the Republic of Indonesia and Minderoo
Foundation have also signed a Letter of Intent to dramatically reduce plastic pollution in Indonesia’s coastal waters by 2025. The Deed of
Agreement provides first priority to Fortescue Future Industries to conduct development studies into the feasibility of projects utilising Indonesia’s
hydropower and geothermal resources to support green industrial operations, principally for export to global markets. Fortescue Future Industries
is underpinned by Fortescue’s world class expertise, operational excellence and proven capability to drive future growth. Fortescue is a
values-based business, committed to investing in the long term sustainability of its core business while pursuing growth and development and
delivering returns to shareholders. Subject to the completion of feasibility studies and approvals, individual projects will be developed by
Fortescue Future Industries with ownership and project finance sources to be separately secured without recourse to Fortescue. Through a joint
partnership with the Government of the Republic of Indonesia, Minderoo Foundation will pilot its ‘Sea The Future’ initiative in Indonesia to scale
up recycling and waste collection infrastructure and operations. Sea The Future is a coalition of leading companies in the plastics industry
committed to ending plastic leakage to nature and accelerating the transition to a circular plastics economy.
Description

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Hyundai Steel (South Korea), the First and Sole Company Granted License to Use
Hot Stamping Process in Korea
24
Hyundai Steel announced on July 17th, 2020 that it has signed a licensing agreement with ArcelorMittal, who has patents on hot stamping product
and process. With the patent license agreement in place, Hyundai Steel is now able to accelerate the manufacturing and sales of hot stamping steels
in Korea, China and ASEAN countries, free of the risk of patent infringement; furthermore, sales activities on related materials and parts are also
expected to gain momentum. By signing this agreement, Hyundai Steel plans to expand its hot stamping automotive part business overseas and
will appeal the merit of the hot stamping materials to the market in automotive parts business. Hyundai Steel currently runs one of the largest hot
stamping sites in Korea, such as 22 lines in Yesan, Choongnam and 2 lines in Ulsan, producing automotive parts with the hot stamping process. In
addition to 2 hot stamping lines to be placed in the Czech subsidiary by the end of this year, Hyundai Steel is planning on further expansion. In this
regard, this patent license agreement will mark as a cornerstone on Hyundai Steel's hot stamping business towards the global market. Through
execution of this licensing agreement, Hyundai Steel anticipates not only to significantly develop its sales of press hardenable steel materials and
parts, but also to expand the high value auto parts market allowing win-win opportunities for its customers.
Description

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HolyGrail 2.0 launched: Mondi (UK) trials digital watermarking to separate waste for
a circular economy
25
Mondi, a global leader in packaging and paper, has joined forces with AIM, the European Brands Association, and other partners across the value
chain to prove the viability of digital watermarking for sorting waste at scale. The HolyGrail 2.0 initiative has the ambitious goal of assessing
whether this pioneering digital technology can enable better sorting and higher-quality recycling rates for packaging in the EU, thereby driving a
truly circular economy. Mondi was a founding member of the original Pioneer Project HolyGrail, facilitated by the Ellen MacArthur foundation.
Now over 85 partners across the value chain are working together to refine and commercialise this concept, with Mondi continuing its active role
in trialling the innovative technology. Postage stamp sized watermarks on packaging—which are not visible to the naked eye—make it possible to
effectively sort the material into specific waste streams. Conventional sensor technologies (e.g. near infrared spectroscopy) are not able to reliably
identify multi-material packaging, so they can end up as contaminants when recycling mono-materials. With this new technology, it becomes
possible to separate materials more accurately and generate new waste streams, which then can be recycled with enhanced recycling
technologies.These digital watermarks also provide other opportunities. For example, consumers can use a smartphone app to find details about
the packaging and how to recycle it, and brand owners can add product details as well.
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Rio Tinto (UK) and Turquoise Hill Resources agree funding plan for Oyu Tolgoi
26
Rio Tinto and Turquoise Hill Resources (TRQ) have entered into a memorandum of understanding (MOU), which provides a clear pathway to
progress the financing for completion of the Oyu Tolgoi Underground Project in Mongolia and address TRQ’s funding position. The MOU reflects
the parties’ agreement that, subject to timing, availability and terms and conditions being acceptable to both parties, they will:
• pursue re-profiling of principal debt repayments with lenders under the existing project finance arrangements to better align with the revised mine
plan, project timing and cash flows;
• seek to raise up to $500 million in additional lending under the existing project financing arrangements from selected international financial
institutions; and
• while TRQ continues to explore other options for additional debt funding, which Rio Tinto will consider, Rio Tinto has advised TRQ that it does
not currently support or expect to consent to any additional debt or other sources of funding. Rio Tinto and TRQ acknowledge that any balance of
the funding required for Oyu Tolgoi to achieve completion of the underground mine will need to be met by way of a TRQ equity offering.
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Teck (Canada) Announces Agreement in Principle with Westshore
27
Teck Resources Limited announced it has signed a non-binding term sheet reflecting an agreement in principle with Westshore Terminals Limited
Partnership (“Westshore”) on proposed terms for the shipment of steelmaking coal following expiry of the current contract on March 31, 2021.
The proposed agreement will provide for the shipment of between 5 and 7 million tonnes annually at fixed loading charges. The 5 to 7 million
tonne range will apply for the 9 months from April – December 2021 and for each 12-month period (January – December) in subsequent years
until the contract volume is concluded. Teck will ship 32.25 million tonnes under the agreement. The proposed agreement with Westshore
complements upgrades underway at Neptune Terminals and capacity at Ridley Terminals. Together, these will provide greater flexibility and
optionality for Teck shipments and contribute to reduced costs and improved performance and reliability throughout the company’s steelmaking
coal supply chain. The proposed agreement is subject to definitive documentation, and the financial terms of the agreement will not be made
public. Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on
copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the
symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK.
Description

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Label materials supplier UPM Raflatac (Finland) joins U.S. Plastics Pact, committing
to meet ambitious circular economy goals by 2025
28
UPM Raflatac, a global leading manufacturer of pressure sensitive labels, is pleased to announce it has joined the U.S. Plastics Pact. This
collaborative, solutions-driven initiative is rooted in four ambitious goals intended to drive significant systems change by unifying diverse
cross-sector approaches, setting a national strategy, and creating scalable solutions to create a path forward toward a circular economy for plastics
in the United States by 2025. The first North American Pact of its kind, the U.S. Pact is a collaboration led by The Recycling Partnership, World
Wildlife Fund (WWF), and Ellen MacArthur Foundation. Activators like UPM Raflatac recognize that significant, systemwide change is
imperative to realize a circular economy for plastics. As such, the U.S. Pact will convene more than 70 brands, retailers, NGOs, and government
agencies across the plastics value chain to bring one voice to U.S. packaging through coordinated initiatives and innovative solutions for rethinking
products, packaging, and business models. UPM Raflatac is constantly innovating to deliver future-proof functional and circular labeling solutions
that help printers and brand owners reach their sustainability goals for packaging materials. As one of the signatories of the Ellen MacArthur
Foundation’s New Plastics Economy Global Commitment, joining the U.S. Pact is another step on the company’s journey to label a smarter future
beyond fossils.
Description

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UPM Timber (Finland) and Sumitomo Forestry Group united by dedication to sustainability
29
For many years, UPM Timber has been a close partner of Japanese company, Sumitomo Forestry CO., Ltd., and this partnership will continue
throughout 2020. UPM Timber provides raw material to subcontractors of Sumitomo to make laminated posts and beams, which are then used by
Sumitomo in house construction. The company operates in a variety of forestry subsectors, such as forest ownership and management in Japan,
timber and other building material businesses, housing, construction and real estate. Sumitomo Forestry is also known for their ambitious building
projects. To celebrate the company’s 350th anniversary, the group hopes to construct a 350-metre skyscraper built primarily with new technology
of wooden materials in Tokyo by 2041. This project, named W350, is part of Sumitomo’s broader vision for a future city that blends with forests
and nature by increasing the use of timber in the urban area. Sumitomo Forestry plans to use 90% wooden materials in the W350 project, with steel
being used for the remaining 10%. To create an inviting and peaceful atmosphere, the interior structure of the 70-storey building will be made
entirely of timber. The building is estimated to store up to 140,000 tons of CO2. The company has conducted simulation tests and is satisfied that
W350 will be earthquake-proof; however, the building’s fire safety features still require some work.
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Miscellaneous

Miscellaneous Updates
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ALROSA (Russia) successfully held a digital auction of special-size rough diamonds
30
ALROSA reports its results of the digital auction for the special-size rough diamonds (+10.8 carats) held from 4 to 20 of August. The
digital twin technology allows making well-informed purchase decisions remotely based on the comprehensive data on the offered
product line. During the digital auction in August, clients viewed and evaluated in their online accounts digital copies of ca. 2,300 carats
of rough diamonds in 173 lots. As a result, 132 lots weighing over 1,700 carats were sold. There were 26 winners from Belgium, Israel,
India, UAE and Russia. ALROSA started to pilot on-line sales of rough diamonds in the autumn of 2019. From March 2020, the Company
offered its clients an option to purchase rough diamonds at online auctions and tenders without onsite reviews due to the COVID-19
pandemic restrictions. Traditional offline auctions for special-size rough diamonds resumed in May 2020 with the goods displayed at the
Company’s trading offices in Belgium and Israel.
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BHP's (Australia) Queensland mines to reduce emissions from electricity use by 50 per cent
31
BHP has signed a firm renewable power purchasing agreement to meet half of its electricity needs across its Queensland Coal mines from low emissions
sources, including solar and wind. The agreement will help BHP reduce emissions from electricity use in its Queensland operations by 50 per cent by
2025, based on FY2020 levels. The agreement, with Queensland’s state-owned clean energy generator and retailer CleanCo, will run for five years from
1 January 2021. This will effectively displace an estimated 1.7 million tonnes of CO2e between 2021 and 2025 – equivalent to the annual emissions of
around 400,000 combustion engine cars. The agreement is the first of its kind signed by BHP in Australia and follows the company’s shift to 100 per
cent renewables in its Chilean operations at Escondida and Spence from the mid-2020s. It will also support the development of new solar and wind
farms in Queensland – the Western Downs Green Power Hub due for completion in late 2022, and Karara Wind Farm due for completion in early 2023.
Over the five-year agreement, power will be provided via the grid, and predominantly contracted from a combination of solar, wind, hydro and gas
generation. For the first two years, power will be contracted from CleanCo’s low emissions portfolio which includes hydro and gas generation assets.
From late 2022, the newly operational solar and wind farms are expected to progressively contribute up to half the electricity requirements, with the
remainder supported by CleanCo’s low emissions portfolio. Combined with large-scale generation certificates, this will enable BHP to reduce Scope 2
emissions from its Queensland operations by 50 per cent by 2025, based on FY2020 levels.
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EVRAZ (UK) supports construction of a hospital for treatment of infectious diseases in Novokuznetsk
32
EVRAZ allocated RUB 200 million to finance construction of a hospital for treatment of infectious diseases in Novokuznetsk and supplied
steel products for the project via its trading arm, EVRAZ Metall Inprom (EMI). From June to August, EMI’s Novokuznetsk branch delivered
over 400 tonnes of structural and long steel products manufactured at EVRAZ ZSMK and EVRAZ NTMK: rebars, H-bars, L-bars, and
U-bars. Another 400 tonnes are scheduled for delivery in September, mostly rebars. The hospital will be completed before year-end thanks to
the modern frame-and-panel technology, making construction several times faster. The hospital will comprise the main four-storeyed building
and 10 administrative structures, totalling 27,800 sq m. The new medical facility will replace Municipal Hospital №8, currently profiled for
infectious diseases. Currently, second-storey framework is being assembled in the main building; structural elements and wall rebars are being
put in place in the catering facility building.
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POSCO’s (South Korea) Labor Union and Management Agree to Freeze Wage in 2020
33
POSCO labor union and its management have agreed to freeze wages for 2020. POSCO Labor Union, the representative union for collective bargaining,
put the company’s 2020 wage proposal to a vote on August 31 and 93.44% of the unionized workers were in favor of the offer. In exchange, the
approved proposal includes the following as well: 1) job security, 2) traditional market gift certificates worth of 500,000 KRW, 3) improvements in the
company rules regarding childbirth & parenting, and 4) suspension of the temporary workplace closures. POSCO Labor Union held a representative
meeting on August 11 and decided to entrust this year’s wage negotiation to the company so that employees help overcome the current sluggish
economy caused by the COVID-19 pandemic. Accordingly, POSCO prepared and delivered the 2020 wage agreement proposal on August 13. POSCO
decided to freeze the basic wage, taking into account its unfavorable business performance this year. On the other hand, the company is to guarantee its
employment to relieve job insecurity triggered by the COVID-19 issue. In addition, POSCO plans to provide all employees with traditional market gift
certificates worth 500,000 KRW to boost employee morale and revitalize the local economy. As to resolve the social issue of low birth rate, POSCO
will increase the maternity benefit for firstborns from 1 million KRW to 2 million KRW. Furthermore, to improve the social awareness of adoption and
celebrate a new family, the company will establish an adoption support fund of 2 million KRW. POSCO will also expand the targets of scholarships for
employees’ children from kindergarten to daycare centers.
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