I-Bytes Resources Industry

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I-Bytes
Resources
June Edition 2020
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates..................................................................................................................................................5
3. Rewards and Recognition Updates...................................................................................................................11
4. Customer Success Updates................................................................................................................................17
5. Partnership Ecosystem Updates.......................................................................................................................20
6. Miscellaneous Updates......................................................................................................................................28

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Financial, M & A
Updates Resources Industry

Financial, M&A Updates
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Polyus (Russia) Financial Results for the First Quarter Of 2020
Key highlights
• Total gold sales volumes amounted to 544 thousand ounces, down 39%
compared to the fourth quarter of 2019.
• Revenue for the first quarter of 2020 totaled $872 million, down 32%
compared to the previous quarter
• The group’s TCC for the first quarter increased to $394 per ounce
compared to $341 per ounce in the previous quarter.
• Adjusted EBITDA for the first quarter of 2020 amounted to $589 million, a
33% decrease compared to $883 million in the previous quarter, driven by
lower gold sales volumes over the period.
• Adjusted net profit amounted to $486 million in the first quarter of 2020,
down 7% compared to the fourth quarter of 2019.
• Net cash generated from operations was $544 million in the first quarter,
compared to $682 million in the previous quarter.
• Capital expenditures for the period decreased to $124 million, from $220
million in the previous quarter.
• The net debt adjusted EBITDA ratio decreased to 1.1x compared to 1.2x as
at the end of 2019, reflecting a lower net debt position and adjusted EBITDA
growth over the last twelve months.
Executive Commentary
Chief Executive Officer of PJSC Polyus, commented, “In the first quarter
of 2020, the Company demonstrated a solid operational and financial
performance. Polyus generated $589 million of EBITDA and $260 million
of levered free cash flow. In response to the spread of COVID-19, Polyus
continues to take every precaution to ensure the health and safety of its
employees, their families and local communities. The Company has
implemented a broad-based COVID-19 testing programme across all of its
business units, which covers all its employees as well as the Company’s
contractors. The health and safety of employees remains our number one
priority. We are working closely with state authorities to respond quickly
and responsibly to new developments related to the corona virus.”
1
Key Financial Highlights

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ALROSA (Russia) Q1 2020 IFRS results
Highlights
• Revenue in Q1 was RUB 63 bn amid a 14% decline in the average realised price, and decrease in other revenue and income from grants.
• EBITDA1 increased to RUB 30 bn mainly due to seasonal reduction in social and SG&A expenses. A 4% y-o-y reduction resulted
primarily from lower sales volumes.
• EBITDA margin expanded to 48% on the backdrop of lower costs.
• Free cash flow in Q1 went up by 30% q-o-q to RUB 22 bn amid a stronger operating cash flow and a seasonal reduction in CAPEX.
• Net profit amounted to RUB 3 bn, having dropped by RUB 9 bn q-o-q (down 87% y-o-y) due to non-cash factors (foreign exchange loss
of RUB 21 bn resulting from the revaluation of foreign currency debt).
• In terms of our production operations, in an effort to cut operational expenses, we decided to reduce the production target from 34.2 m to
28–31 m carats, and cut CAPEX from RUB 22 bn to RUB 20 bn.
• In Q1 2020, diamond sales and total revenue amounted to 9.4 m carats and $904 m, respectively. FCF stood at RUB 21.8 bn. Net debt /
EBITDA as at the end of Q1 2020 remained at 0.7 xs.
• In early May, ALROSA’s Supervisory Board recommended to distribute RUB 19.4 bn as dividends for H2 2019, i.e. 100% of FCF for
the period, the maximum amount allowed by the dividend policy.
2
Key Financial Highlights

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Aurubis AG (Germany): Acquisition of Metallo Group fully completed
Aurubis AG has acquired the recycling company Metallo. This marks the
formal closing of the transaction. Metallo will be fully consolidated into the
Aurubis Group. Metallo Group Holding was previously majority-owned by
investment firm TowerBrook Capital Partners. With the Metallo acquisition,
the Aurubis Group, a leading global provider and recycler of copper and
other non-ferrous metals, is gaining another company in Belgium in addition
to Olen, as well as a company in Spain for the first time. The EU competition
authorities issued their unconditional approval of the acquisition on May 4,
2020 after an extensive review. The name Metallo, an established name on
the recycling market, will be retained. Aurubis AG is a leading global
provider of non-ferrous metals and the largest copper recycler worldwide.
The company processes complex metal concentrates, scrap metals, and
metal-bearing recycling materials into metals of the highest quality. Aurubis
produces more than 1 million tons of copper cathodes annually, and from
them a variety of products such as wire rod, continuous cast shapes, profiles,
and flat rolled products made of copper and copper alloys.
Aurubis AG Executive Board Chairman commented on the closing of the
transaction in a video released today for all of the employees: “A little over
a year after the announcement, we can now welcome all of our Metallo
colleagues to the worldwide Aurubis family. We will integrate the Metallo
production sites to form an optimized production network of our plants in
Hamburg, Pirdop, Lünen, and Olen together with Beerse and Berango.
This will lead to more than 1 million tons of recycling capacity for
secondary material.”
Description
3

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SIKA (Switzerland) Acquires Market Leader in Roofing and Waterproofing
Systems in Egypt
Sika has acquired Modern Waterproofing Group, a leading manufacturer of roofing and
waterproofing systems in Egypt. The acquisition supplements and rounds off the product
portfolio of Sika Egypt and offers new opportunities for growth in the Egyptian
construction market. The acquired business generates annual sales of CHF 26 million.
Modern Waterproofing is based in Cairo with a production facility in Badr City which is a
logistically ideal location close to Cairo and the New Administrative Capital. It
manufactures solutions for the waterproofing and roofing markets, focusing on a
comprehensive range of modified bitumen membranes. As complementary products, the
company also offers liquid coatings and insulation boards. With its solid reputation as a
high-quality company, Modern Waterproofing has established itself as a market leader for
bituminous membranes. It has reached this position by developing an extensive product
portfolio which provides solutions for each segment of the market, meeting the needs of
applicators and distributors. The acquisition will extend and complete Sika Egypt’s offering
of roofing, waterproofing, and building envelope systems. The production site will
strengthen the local supply chain and the technical know-how as well as offer the
possibility to efficiently serve other African countries.
"Modern Waterproofing will enhance our market access to various customer segments
both in direct sales and through the distribution channels. This will open up promising
cross-selling opportunities in the area of waterproofing and roofing. The expanded
product portfolio will significantly strengthen our position in the Egyptian construction
market. We would like to welcome the employees of Modern Waterproofing to our Sika
team and look forward to growing our business together.” Said Regional Manager
EMEA
Description
4

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Solutions Updates
Resources Industry

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Solution Updates
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Tata BlueScope Steel (Australia) supports COVID-19 fight
5
Solution Description
Tata BlueScope Steel has introduced high strength, modular and quick to install steel structures to help meet the demand
for high quality, ready-to-install health infrastructure in the fight against COVID-19. From the EZYBUILD® light
structural steel building solutions product line, Tata BlueScope Steel has designed and developed customized structures
that can be used as isolation and quarantine units, testing and sample collection booths and doctors' cabins. With amenities
in line with medical guidance, these smart steel structures in the form of quarantine wards and testing kiosks are available
in kit-like solutions, with wall, roof panels and internal partitions assembled onsite. The structures can be easily
dismantled, packed and shifted to other sites as needed. They are easy to sanitize, are weather-proof and thermally
efficient.

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Solution Updates
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POSCO (South Korea) to Launch Group Logistics Affiliate ‘POSCO
GSP’
6
POSCO is to launch an integrated logistics affiliate, tentatively named POSCO Global Smart Platform by the end of 2020.
The affiliate will integrate contracts and manage the operation of transport volume in POSCO and its group companies. It also
plans to support establishing smart and sustainable infrastructure within logistics partners, and enhance logistics efficiency
and boost synergy. As of present, various transportation contracts related to the purchase of steel materials and sales of
products are spread across different departments within POSCO. The logistics function is also dispersed among various
affiliates, such as POSCO International, SNNC, and POSCO C&C. By integrating the logistics into a single company,
POSCO aims to promote efficiency and improve expertise while eliminating redundancy and dissipation. Since the transport
volume of the steel industry amounts to large numbers, global steelmakers in Europe, Japan, and China are already operating
logistics-specialized affiliates to enhance logistics efficiency and improve expertise. In 2019, POSCO Group’s total transport
volume of goods recorded around 160 million tons with logistics costs reaching a scale of 3 trillion KRW. However, the
current logistics operations of POSCO are widely scattered among group companies and function as a support for sales and
procurement alone. The affiliate aims to increase efficiency by integrating logistics services — such as establishing transport
plans and contracts of raw materials and products — and grow into a logistics platform based on Artificial Intelligence and
robot technology.

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Solution Updates
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Smurfit Kappa (Ireland) launches innovative new Vitop® Blue taps for
Bag-in-Box cleaning products
7
The new Vitop® Blue tap got off to a flying start by first being used for Bag-in-Box hand sanitizer packaging – one of the
most sought-after products during the Covid-19 pandemic. Although more testing will be undertaken to ensure compatibility
with a wide range of hand sanitizers and other cleaning products, the Bag-in-Box packaging is a promising solution due to its
variety of sizes and flexibility to be used either by the end-consumer or as a refill solution. Smurfit Kappa is the market leader
in European Bag-in-Box packaging and its Vitop® tap is well-known to consumers. The development of this new Vitop®
Blue tap is in line with the company’s aim to apply its expertise in Bag-in-Box packaging to other non-food markets. Vitop is
the leading provider of Bag-in-Box closure solutions with over 5 billion taps sold. The launch of this new product is the latest
addition to its flagship range of Bag-in-Box taps Vitop® Original that are used already in multiple markets including wine,
juices, water and olive oil.

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Solution Updates
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Tata Steel (India) adds to its array of initiatives to help migrants returning
home
8
Tata Main Hospital currently has 50 Covid-19 positive patients and 58 COVID-19 suspects in the isolation ward. Two
COVID-19 patients are currently being treated in the ICU. All the patients are being monitored constantly and are in
medically stable condition. The hospital has conducted 2717 RT-PCR tests so far; achieved the highest mark of 194 tests in a
single day on May 28. A majority of the COVID patients at TMH are asymptomatic. TMH is ensuring a holistic environment
for Covid-19 patients to enable recovery. This includes regular monitoring of vitals, provision of medicines and nutritious
food, hygiene and care. Tata Steel Foundation, through its various initiatives, has reached out to ~25000 migrant workers from
23 states in last 10 days. The Foundation launched a new initiative named ‘Hope Springs’ last week to help migrant workers
returning home and has reached out to 7000 workers in last 8 days. As part of the Hope Springs initiative, the foundation has
set-up an outpost on NH-33 highway to help the migrants in their journey back home. Each day, about 700 to 1000 migrants
seek help at this outpost. This outpost is open from 5 am to 10 pm to help migrants with meals, ration kits, medical help, and
more. A team of doctors stationed at the outpost has treated and helped about 550 people with basic medical essentials.

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Solution Updates
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UPM Raflatac (Finland) unveils Rêverie 2 collection for high-end wine, spirits,
and craft beverage labeling
9
UPM Raflatac announces the release of Rêverie 2, a new premium collection of unique, high-end labeling materials for wines, spirits, and
craft beverages developed in response to the latest market trends and demands. The collection has been created in collaboration with UPM
Raflatac’s partners to meet their expectations, and it enables innovative printing techniques and finishes. The collection includes a variety
of FSC-certified materials (FSC-C012530) from sustainably managed forests as well as materials made from 100% recycled content and
other controlled sources. This helps the brand owners to reach their sustainability targets linking to mitigating climate change or
promoting circular economy.
The Rêverie 2 collection comprises the following materials:
• UPM Raflatac Jazz Ice Premium-FSC – A versatile material with a new light, textured design and an excellent ice-bucket performance.
This material gives room for creativity and bold designs making it a perfect choice for labeling spirits bottles
• UPM Raflatac Jazz Silver Ice Premium-FSC – An iridescent version of Jazz Ice with liveliness, freshness, and dynamism combined with
excellent ice-bucket performance. With its freshness, it is well suitable for labeling white, rosé and sparkling wines
• UPM Raflatac Ronda PCR Ice Premium-FSC – An elegant, refined material – made from 100% recycled content – with an optimal level
of whiteness and superior embossing properties combined with excellent ice-bucket performance
• UPM Raflatac Rust – A super-premium material that communicates authenticity and craftsmanship like no other. It reminds you of the
ground and soil and suits well for spirits and craft beer labels or red wines

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Solution Updates
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UPM Raflatac (Finland) expands Forest Film product range with the industry’s
first wood-based polyethylene label film
10
UPM Raflatac launches UPM Raflatac Forest Film PE™ to complement its range of sustainable film labeling solutions. The new PE film
label takes UPM Raflatac forward in its quest for a smarter future beyond fossils, decreasing the use of fossil-based virgin raw materials
in home and personal care labeling applications. The Forest Film PE label material is produced in collaboration with UPM Biofuels and
Dow. UPM Biofuels provides the 100 percent wood residue-based raw material UPM BioVerno naphtha, which is then processed by Dow
into bio-based plastic granules to be extruded into label film. Forest Film PE starts UPM’s collaboration with Dow in labeling
applications. Last year Dow announced the commercialization of bio-plastics offerings for the packaging and labeling industry made
from a bio-based renewable feedstock. Dow integrated the wood-based UPM BioVerno naphtha – a key raw material used to develop
plastics – into its slate of raw materials, creating an alternative source for plastics production. Dow uses this feedstock to produce different
types of bio-based polyethylene. The Forest Film product range has an International Sustainability & Carbon Certification (ISCC PLUS).
It is produced using sustainable bio-feedstock, replacing the equivalent amount of fossil resources used in the production process, using
a mass balance approach, accounting for the amount of sustainable resources.

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Rewards & Recognition

R & R Updates
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ArcelorMittal (Luxembourg) named Steel Sustainability Champion for
third consecutive year
ArcelorMittal has been recognized as a Steel Sustainability Champion for the third year running by the World Steel
Association. The accolade for 2019 maintains ArcelorMittal’s perfect run as a Steel Sustainability Champion, since the
programme was launched in 2017. Being named a Sustainability Champion distinguishes the steel companies who, like
ArcelorMittal, are leading by example in creating a truly sustainable steel industry. The programme seeks to encourage other
steel companies to increase their efforts, set higher standards and demonstrate a strong commitment to sustainable development
and the circular economy. This designation reflects ArcelorMittal’s dedication to world steel’s sustainable development charter;
the company’s regular and transparent reporting on its environmental, social and economic performance; its commitment to
providing a safe and healthy work environment for steelworkers; and its success in 2019’s Steelie Awards, where it won the
‘Excellence in sustainability’ category for its Climate Action Report.
R&R Description

R & R Updates
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BlueScope (Australia) named world steel Sustainability Champion
12
BlueScope has been recognized as a world steel Sustainability Champion for our performance and efforts in 2019. Champions
demonstrate commitment to sustainable development and the circular economy, and to making a tangible impact. The world
steel Sustainability Champion program encourages companies to increase their efforts, set higher standards, and make further
progress. To qualify, companies must meet the following criteria each year:
• Commitment: Sign up to the world steel sustainable development charter.
• Measurement: Provide data on six of the world steel Sustainability Indicators (Material efficiency, Environmental
management system, Lost time injury frequency rate, Employee training, Investment in new processes and products, Economic
value distributed) and submit Life Cycle Inventory data to world steel’s data collection program (data should cover more than
50% of the company’s crude steel production and should be less than five years old).
• Action: Publish a sustainability-related report and be shortlisted in one of the 5 categories of the worldsteel Steelie Awards or
be recognized in the Safety and Health recognition program.
R&R Description

R & R Updates
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MMK (Russia) recognized among top 3 metals companies with highest investment
returns globally by Boston Consulting Group
13
Magnitogorsk Iron and Steel Works took third place in the 2020 Value Creators ranking published by the international
consulting company Boston Consulting Group. The ranking evaluates the world's leading companies by total shareholder return
generated over the past five years. MMK is the leader among Russian steel companies with a 40% TSR. TSR takes into account
the growth of a company's share price and dividend yield over a set period of time. This is an important indicator for investors,
as it reflects the true bottom line for a company’s shareholders. MMK's TSR over the past five years was not only the highest
among Russian steel companies, but third among all Russian companies and third among steel companies worldwide. The 2020
Value Creators ranking is prepared by BCG, one of the world's largest consulting companies with a global network of more
than 90 offices in 50 countries. The ranking's methodology is based on the results of an analysis of TSR indicators for 2,327
companies from around the world for the period from 2015-2019. Ensuring a high yield for investors is one of MMK's top
priorities. Since November 2019, the Company has followed a dividend policy according to which the Company directs at least
100% of its free cash flow to dividends when net debt/EBITDA ratio is below 1.0x.
R&R Description

R & R Updates
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NLMK Group (Russia) among Top 10 steel companies globally in value creation
14
NLMK Group was ranked sixth among steel companies globally by total shareholder return in the 2020 Value Creators report, a
ranking compiled by The Boston Consulting Group that covered a five-year period from 2015 through to 2019. BCG analyzed
TSR, which is based on share price movements and dividend yield per share for the period, for more than 2000 companies
across the globe. 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 tons per year. NLMK’s ordinary shares with a 18.6% free-float are
traded on the Moscow Stock Exchange and its global depositary shares are traded on the London Stock Exchange. The share
capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1.
R&R Description

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Tata Steel Limited (India) and Tata Steel Europe recognized by world steel as 2019
Steel Sustainability Champions
15
Tata Steel Limited and Tata Steel Europe have been recognized as 2019 Steel Sustainability Champions by the World Steel
Association for the third consecutive year. This coveted recognition acknowledges Tata Steel’s efforts at maintaining its leadership
as a world-class steel producer that is fully committed to the principles of sustainability. The World Steel Association has
recognized nine companies as Steel Sustainability Champions for their work in 2019. Now in its third year, the Steel Sustainability
Champions Programme commends those steel companies that are most clearly demonstrating their commitment to sustainable
development. The winning entries for the Sustainability Champions recognition are evaluated basis the data provided on
sustainability indicators like material efficiency, environmental management systems, lost time injury frequency rate, employee
training, investment in new processes and products, economic value distributed. In addition, the companies provide Life Cycle
Inventory (LCI) data to worldsteel’s data collection programme that covers more than 50% of the company’s crude steel production
data and is less than 5 years old. The companies also commit to sign the worldsteel Sustainable Development Charter. According to
world steel, the annual sustainability champion recognition programme encourages steel companies to increase their efforts, set
higher standards, and make continued progress towards achieving sustainability goals. The programme is also an effective vehicle
to demonstrate stronger commitment and proactive engagement of the industry to sustainable development.
R&R Description

R & R Updates
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Ternium, (Luxembourg) recognized by its commitment to sustainable development
16
Ternium was recognized for showing its commitment to sustainable development during 2019. This year is the second in a
row that the company achieves the Sustainability Champions award, given by the WorldSteel Association, an organization
that groups all major steel producers in the world. To be acknowledged, steel companies must comply with various steps.
The first one is to commit by signing worldsteel’s Sustainable Development Letter. It must also measure and offer data for
the six sustainability indicators in the organization, like material efficiency, environmental management systems, rate of
frequency of injuries that incur in lost days, employee’s training, investment in new processes and products, and a
distributed economic value. Besides, it must offer data from the Cycle of Life. Additionally, companies must publish a
report related to sustainability. They must have been preselected in one of the five WorldSteel Steelie Awards or recognized
in the Health and Safety Acknowledged Programs.
R&R Description

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Customer Success

Customer Success Updates
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BlueScope (Australia) chosen for shipbuilding contract
17
BlueScope has been chosen by ASC Shipbuilding, a subsidiary of BAE Systems Australia to supply steel for the
prototyping phase of a program to build defense ships in Australia. This is an important step towards the potential
future supply of more than 30,000 tons of steel from the Port Kembla Steelworks into nine defense ships. The
Company has a long and proud history of supplying steel into defense projects – in the 1990s we supplied more than
20,000 tons of steel into the original Anzac Class frigate fleet that the Hunter Class ships will replace.
Description

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CEMEX (Mexico) surpasses supply milestone in upgrade of Central Florida's
main highway
18
CEMEX announced it has recently passed a supply milestone for the I-4 Ultimate Improvement Project, delivering more than
one-third of the ready-mix concrete required for the 21-mile upgrade of Interstate 4, the main highway stretching through Orlando
and Central Florida. Construction crews began working on the $2.3 billion transformation of I-4 in 2016, and over the last four
years, CEMEX has supplied nearly 250,000 cubic yards of concrete of the total 620,000 cubic yards for the project. CEMEX is
expected to supply at least 375,000 cubic yards of concrete over the life of the I-4 Ultimate Improvement Project. Over the last few
weeks, the COVID-19 pandemic led to a decrease in traffic in Central Florida, and crews were able to accelerate construction. With
the increased access, crews finished five new flyovers at the I-4/State Road 408 interchange early, leading to them opening three
months ahead of schedule. CEMEX supplied 58,000 cubic yards (approximately 44,000 cubic meters) of concrete for the new
flyovers. The entire I-4 Ultimate Improvement Project is expected to upgrade the interstate built in the 1960s to current industry
standards while better accommodating the number of vehicles that utilize the highway. The project is currently scheduled to be
completed in 2021. 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.
Description

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Nippon Paper Industries (Japan) Selected as an "Ethibel PIONEER" by the Investment
Universe Ethibel Investment Register
19
Nippon Paper Industries, Co., Ltd. has been selected as an Ethibel PIONEER in addition to continuing to be selected as a member
of the Ethibel EXCELLENCE Investment Register, the investment universe of Forum Ethibel, a Belgium-based socially
responsible investment organization, in May of this year. The Ethibel Investment Register is an investment universe comprised of
companies that have scored high on a multifaceted assessment of their corporate social responsibility performance, selected based
on ESG assessment data provided by VigeoEiris, a global ESG rating agency. The constituent companies are continuously updated
and monitored by Forum Ethibel. The Ethibel PIONEER is a ranking that selects companies that have achieved particularly high
scores. This is the first time that the Company has been selected as an Ethibel PIONEER, after having been selected as a member
Ethibel EXCELLENCE since 2013. As of May 2020, 113 global companies, 15 of which are Japanese, have been selected as
Ethibel PIONEERS, while five global companies in the Forest Products & Paper sector have been selected as Ethibel PIONEERS
and the Company is the only Japanese selection.
Description

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Partner Ecosystem

Partner Ecosystem Updates
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Barrick (Canada) Partnership with Tanzanian Government Delivers
First Major Outcomes
20
Barrick Gold Corporation has settled the majority of the North Mara legacy land claims and has paid the first tranche of the $300 million
settlement it agreed with the Tanzanian government to resolve the disputes it inherited from Acacia Mining. In terms of its framework agreement
with the government, the shipping of some 1,600 containers of concentrate stockpiled from Bulyanhulu and Buzwagi resumed in April and the
first $100 million received from the sale has gone to the government. Barrick said all material issues had been dealt with or were being finalized.
This initial payment will be followed by five annual payments of $40 million each. At the same time, some 90% of the outstanding land claims
at North Mara have been settled with payment scheduled to start today. Contrary to the past, where these claims were handled by the mine, the
compensation process is being overseen by a committee representing Twiga, the government, the local authorities and the affected communities.
This will ensure that the process is transparent and that issues are dealt with fairly and promptly. Summing up these developments, Bristow said
the rapid progress made in resolving the most pressing legacy issues in Tanzania was a tribute to the hard work of Jacobs and his team as well as
to the wholehearted support and engagement of the government and other stakeholders.
Description

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LafargeHolcim (Switzerland) ramps up partnership with Solidia Technologies to
capture CO2 in building materials
21
LafargeHolcim ramps up its partnership with Solidia Technologies to reduce CO2 across its value chain. With this announcement the
collaboration with the US-based cement and concrete technology company, which began in 2013, is formally agreed until 2025, with an option
to extend. Together the two companies’ solutions not only emit up to 30% less CO2 during cement production, they also capture and store CO2,
leading to a 70% carbon reduced concrete. Together with Solidia LafargeHolcim will continue to develop new innovative solutions focused on
non-reinforced concrete structures and paving while also aiming to make it increasingly applicable for structural applications. Key US customers
have already placed orders for Solidia Cement™ to produce concrete paving blocks using the Solidia technology. In addition to delivering a low
CO2 product from a low CO2 cement and permanent CO2 sequestration in concrete materials, Solidia cement can also increase precast
production output from full product strength in less than 24 hours and less equipment down time for cleaning. Solidia Concrete™ products are
more durable and have a wider color palette and no efflorescence. Initially the required CO2 will be supplied by third parties while Solidia
supplies the required curing chambers in which the CO2 is injected into the concrete. Over the long term LafargeHolcim aims to utilize CO2
captured from cement kilns in North America and Europe.
Description

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NLMK (Russia) and Grand Line bring joint premium product offering to market
22
NLMK Lipetsk, NLMK Group’s flagship production facility, and Grand Line, the Russian producer of construction materials, have set
up mass production of Satin Matt and PurLite Matt premium-class pre-painted steel products. NLMK will supply more than 2000 tons
of these steel products to Grand Line over the course of the year for onward processing. The products NLMK and Grand Line are
manufacturing are designed for making construction materials such as profiled sheets, metal roof tiles and façade cladding. They are
fully compliant with European and Russian quality standards, and boast superior use properties for consumers thanks to decorative
surface texture and high performance characteristics. This includes greater corrosion and UV protection and higher ductility for
complex molding. The usable lifespan of products made from these steels is 1.5-2 times longer than that of standard quality steel.
Grand Line is one of the largest producers of construction materials in Russia and Europe. The company has 9 plants and more than
100 official outlets across Russia. Innovative techniques and materials used when producing the goods, along with continuous
monitoring in our captive laboratory, enable Grand Line to guarantee customers the highest standards in product quality.
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SAIL(India) partners with Apollo Hospital for knowledge sharing & services
23
Steel Authority of India Limited has partnered with one of the renowned healthcare providers namely Apollo Hospital, in Delhi, for
establishing a knowledge sharing platform for the Company, in a step towards better handling of the corona pandemic, at its Company
HQ & Unit Hospitals spread across the country. This step has been taken in the wake of current COVID situation in the Country as well
as while few SAIL employees who had been earlier tested Corona positive, recover from COVID. This is in tandem with the
Company’s continued initiatives in monitoring the situation to ensure employee’s safety and health. SAIL is happy to partner with the
Apollo Hospital as it gets back to its mission of building an Atmanirbhar Bharat. Apollo hospital will extend help in sample testing,
setting protocols and providing assistance in ensuring SAIL employees can return back to work safely & are assured of the optimum
treatment protocols. In this session doctors across key units of SAIL interacted with Apollo Hospital’s Delhi team. Apollo Hospitals
will also be helping SAIL on developing protocols for safety & treatments during the next few months, for safety of its workforce.
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SAIL (India) collaborates with Max Healthcare for handling Covid for employees
24
Steel Authority of India Limited has collaborated with one of the best healthcare providers in India namely Max Healthcare, for
providing end to end healthcare for its Corporate Office employees and their dependents affected by COVID, after few employees were
tested Corona positive earlier last week. Through this collaboration, the Company aims to facilitate in getting treatment of its COVID
affected asymptomatic employees/dependents and those requiring further medical care including hospitalizations. Max Healthcare will
extend their professional expertise in managing Corona positive cases reported in SAIL Corporate Office and in dealing with future
necessities, if required. This package is primarily designed for remote monitoring care at home for managing the COVID positive
patients who are asymptomatic or having mild symptoms or for cases which needs further assistance. The package consists of key
elements for managing home quarantine of COVID positive cases of CO employees /dependents that are asymptomatic or having mild
symptoms. It has essential medical kit, daily vital monitoring with trained nurses on phone call, tele review with doctors and home
delivery of medications among other facilities. In case of requirement, necessary hospitalization facilities will also be organized
through Max Healthcare.
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Mohawk and UPM Raflatac (Finland) partner for sustainable pressure sensitive
labeling solutions
25
Mohawk Fine Papers, Inc. and UPM Raflatac have started a strategic partnership to offer sustainable roll-fed pressure sensitive labeling
solutions made with Mohawk Renewal Hemp and Straw paper face stocks in the Americas. Mohawk Fine Papers, Inc., North America's
largest privately owned manufacturer of fine papers, envelopes, and specialty materials for printing, recently unveiled a groundbreaking
portfolio of papers made from rapidly renewable, sustainable fibers. Through this partnership, UPM Raflatac is introducing pressure
sensitive label products constructed from Mohawk Renewal Straw and Mohawk Renewal Hemp. These face stocks are already
available for wine, spirits and craft beverage end uses and can also be custom tailored with a broad range of adhesives and liners for
food and retail uses. As part of the UPM Raflatac SmartChoice™ portfolio, these products will enable companies to use renewable
materials and post-consumer waste in label applications. The new line of Mohawk Renewal labeling materials enables brands to
express their uniqueness while keeping true to their sustainability goals. UPM Raflatac will continue creating new SmartChoice
products that help its clients reach beyond their targets to reduce, recycle and renew.
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UPM Raflatac (Finland) and YG Branding and Design Experts collaborate with partners to
present the world’s first virtual wine and spirits packaging value chain trade show
26
UPM Raflatac and YG Branding and Design Experts are proud to present the first global virtual expo for wine and spirits, focusing on
the packaging value chain, on 9-10 June 2020. The fair is organized in collaboration with more than a dozen other partners from around
in the world in the wine and spirits packaging value chain that cover industries such as label printing, foil stamping and glass bottle
production, to mention a few. This virtual event consists of panel discussions and webinars that will share the latest trends and industry
insights as well as connect customers, suppliers and colleagues across the industry and the globe. The expo is open for everyone
interested in the wine and spirits industry. Participants will have an opportunity to visit interesting virtual stands hosted by some of the
most prestigious providers in the global industry. In addition, visitors will have access to several webinar sessions and panel discussions
with live engagement.
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U. S. Steel (USA) Signs Long-Term Iron Ore Sales Agreement with Algoma Steel
27
United States Steel Corporation announced a four-year agreement to sell substantial volumes of quality iron ore pellets to Ontario,
Canada based Algoma Steel Inc. The purchase agreement, which runs from 2021 through 2024, provides incremental volume and a new
long-term iron ore customer for U. S. Steel’s Minnesota mines. This is the second significant iron ore purchase agreement U. S. Steel
has finalized in 2020. The other agreement announced on April 30, 2020 included another party’s option to acquire a 25 percent interest
in the Company’s Minntac iron ore operation for an implied enterprise value of $2.4 billion for the Minntac operation. The contracts
advance U. S. Steel’s commitment to extract incremental value from the company’s iron ore assets as part the Company’s “best of both”
strategy which was announced October 1, 2019. United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading
integrated steel producer and Fortune 250 company with major operations in the United States and Central Europe.
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Miscellaneous

Miscellaneous Updates
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S&P confirms ALROSA’s (Russia) BBB- investment grade rating with a
“Stable” outlook
28
S&P Global Ratings international rating agency confirmed ALROSA’s BBB- investment grade credit rating with a “stable” outlook. The
agency draws attention to the company’s consistently high profitability, its leading position in the diamond market and high-quality
reserves, as well as prudent financial and dividend policies and high level of corporate governance. A stable outlook reflects the agency’s
confidence in relatively fast recovery of credit metrics in 2021-2022 after the weakening amid COVID-19 lockdowns, as the company acted
proactively to limit the negative impact on its cash flows. Among measures taken, S&P Global Ratings highlights downward correction of
the company’s capex program and production target.
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EU supports ArcelorMittal (Luxembourg) with EUR 75m EIB loan to scale
up breakthrough technology to reduce carbon emissions
29
EU supports ArcelorMittal with EUR 75m EIB loan to scale up breakthrough technology to reduce carbon emissions. The European
Investment Bank, with the support of the European Commission, has granted a EUR 75m loan to ArcelorMittal for the construction of two
ground-breaking projects at ArcelorMittal Ghent, Belgium, to considerably reduce carbon emissions by converting waste and by-products
into valuable new products, helping to develop low-carbon steelmaking technologies, in line with the EU’s climate objectives. Once
complete, the plant is expected to produce up to 80 million liters of recycled-carbon ethanol a year. The new installation will create up to
500 construction jobs over the next two years and 20 to 30 new permanent direct jobs. The project is expected to be completed in 2022. In
the early stage, the Torero plant will be able to convert up to 60,000 tons of waste wood into around 40,000 tons of bio-coal every year. This
volume will be doubled in a second stage of the project, after the start of the first Torero reactor. The new installation will create around 70
external jobs and will create around ten new permanent direct jobs for the operation of this installation.
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Barrick (Canada) Supports Higher Education and Community Development
in Zambia
30
Barrick Gold Corporation, owner and operator of the Lumwana copper mine, has donated 10 computers to the University Of Zambia School
Of Mines and agreed to help repair the Kakayindu Police Post, in line with its commitment of creating long-term value for its host countries
and communities. Established in 1973, the University Of Zambia School Of Mines offers undergraduate and postgraduate courses in
geology, mining engineering, metallurgy and mineral processing. According to Willem Jacobs, Barrick’s chief operating officer for Africa
and the Middle East, enrolment at the School has increased over the years, creating the need for an expansion of its infrastructure. Jacobs
says that in keeping with the group’s policy of employing host country nationals and upskilling those to world-class standards, Barrick has
long provided scholarships for undergraduate students. The donation of computers is intended to assist the School in its research projects as
well as delivering computer-based course material to students. Additionally, Barrick has agreed to help repair the Kakayindu Police Post,
which was vandalized late last year as a result of community unrest. The 22-person strong post provides security to 37,000 people in the
Lumwana Township and neighboring communities.
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SIKA (Switzerland) Produces Safety Masks for Employees and Customers
31
Sika has commenced production of respiratory masks in France. In addition to hand sanitizer, which is being manufactured at over 15 Sika
national subsidiaries since March 2020, safety masks are now being produced for employees, customers, and other interested parties.
Production capacity stands at around 15,000 masks per day. At the Les Salles du Gardon factory in southern France, Sika has commenced
the production of respiratory masks made almost entirely from Sika products. Nearly 50,000 masks have already been produced and orders
placed for over 165,000 more. The masks incorporate polyester-based protective layers normally inserted between base and membrane in
roof waterproofing as well as silicone-based sealants used for glazing and jointing in construction facilities. Not only do Sika technologies
meet the highest standards for construction applications, they have also been tested and approved by the French authorities for compliance
with hygiene regulations in the battle against Covid-19. The face masks are now available for employees and, in particular, for customers.
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