Basic Materials

Amrize is a building materials company combining solid margins, multi-year revenue expansion, and strong cash generation. Recent share weakness contrasts with a still-profitable operating profile, making the balance between resilience and leverage worth a closer look.

Southern Copper is a major copper producer with unusually high margins, strong cash generation, and a long project pipeline in Peru and Mexico. Its appeal rests on high-quality assets and electrification-linked copper demand, though the market already assigns a premium to that strength.

Rio Tinto is a global mining leader built on high-quality iron ore assets, strong margins, and solid cash generation. The next phase centers on expanding copper, aluminum, and lithium exposure, giving the company broader relevance to infrastructure and electrification demand.

Rio Tinto is a global mining leader powered by a highly profitable iron ore base and a growing push into copper and lithium. The mix of strong cash generation, disciplined leverage, and major long-life assets makes its long-term positioning worth a closer look.

Newmont is one of the world’s largest gold miners, with global scale, rising cash flow, low leverage, and much stronger profitability than in its recent downturn. Its mix of gold leadership and growing copper exposure makes the latest operating recovery worth a closer look.