Sociedad Minera El Brocal S.A.A.

This company sits on the supply side for 3 of its 3 materials — a restriction on those is a tailwind, not a headwind.

As a producer, policy pressure across its produced materials is flat.

Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.

No actions in the register have named or swept this company in the last 24 months.