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Imerys S.A. is a French multinational company specializing in the production and processing of industrial minerals. It operates primarily across several segments, including performance minerals, refractory, abrasives, and construction. The company supplies a wide range of mineral-based products that serve diverse industries, such as automotive, consumer goods, and construction. Founded in 1880 and headquartered in Paris, France, Imerys has a significant global presence, with operations in over 40 countries. The company is strategically positioned with a diversified portfolio and extensive expertise in mineral applications, which enables it to cater to various industries with customized solutions. This diverse operational scope and technological capabilities form the core of its competitive strengths.

BHP is a global diversified miner mainly supplying iron ore and copper. The merger of BHP Limited and Billiton PLC created the present-day BHP Group. The dual-listed structure from the 2001 BHP and Billiton merger was collapsed in 2022. Major assets include Pilbara iron ore and Escondida copper. Onshore US oil and gas assets were sold in 2018, and the remaining petroleum assets were spun off and merged with Woodside in 2022, with BHP vesting the Woodside shares it received to BHP shareholders. It purchased copper miner Oz Minerals in fiscal 2023 and half of the Vicuña copper joint venture in fiscal 2025. It is entering the potash market through the development of its Jansen project in Canada. However, due to low prices, BHP placed its nickel business on care and maintenance in 2024.