EX-1.01 2 exhibit101conflictminerals.htm EX-1.01 Document
Exhibit 1.01
Malibu Boats, Inc.
Conflict Minerals Report
For the Year Ended December 31, 2019


Introduction 
        
This Conflict Minerals Report (“CMR”) for the year ended December 31, 2019 is presented to comply with Rule 13p-1 under the Securities Exchange Act of 1934 (the “Rule”). The Rule imposes certain reporting obligations on U.S. Securities and Exchange Commission (“SEC”) issuers if they manufacture or contract to manufacture products that contain certain minerals which are necessary to the functionality or production of their products. These minerals are cassiterite, columbite-tantalite (coltan), gold, wolframite, and their derivatives, which are limited to tin, tantalum and tungsten (“3TG” or “Conflict Minerals”). The Rule focuses on 3TG emanating from the Democratic Republic of Congo (“DRC”) region and nine adjoining countries (together, the “Covered Countries”). If an issuer has reason to believe that any of the Conflict Minerals in their supply chain may have originated in the Covered Countries and are not from recycled or scrap sources, or if they are unable to determine the country of origin of those Conflict Minerals, then the issuer must exercise due diligence on the Conflict Minerals’ source and chain of custody and file a CMR as an exhibit to the Form SD with the SEC that includes a description of those due diligence measures.

Company Overview

Malibu Boats, Inc., also referred to as “Malibu Boats”, “we”, “our”, and “us” is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport boats, sterndrive and outboard boats. Our boats are used for water sports, general recreational boating and fishing. Our high performance boats are sold under four brands: Malibu; Axis; Cobalt and Pursuit. We manufacture our own Malibu, Axis, Cobalt and Pursuit performance boats and components such as trailers, towers and tower accessories. In addition, we contract with other third-party vendors to manufacture other components for installation on our boats, such as electronic controls. Pursuant to our engine integration strategy, beginning with our model year 2019 boats we are purchasing engines from General Motors LLC and preparing them for marine use. We determined that Conflict Minerals were necessary to the functionality and/or production of such products during calendar year 2019.

Executive Summary

Malibu Boats does not directly source any Conflict Minerals that may be used in the products we manufacture or contract to manufacture. Therefore we relied upon our suppliers to provide information on the origin of the Conflict Minerals contained in components and materials supplied to us, including sources of Conflict Minerals that are supplied to them from sub-tier suppliers. Malibu Boats performed a Reasonable Country of Origin Inquiry (“RCOI”) on suppliers believed to provide Malibu Boats with materials or components containing necessary 3TGs.

Malibu Boats’ suppliers identified 298 smelters and refineries (“smelters”). Of these 298 smelters, Malibu Boats identified 41 as sourcing (or there was a reason to believe they may be sourcing) from the Covered Countries. Malibu Boats’ due diligence review indicated that 33 of these smelters have been audited and recognized as conflict free by the Responsible Minerals Assurance Process (“RMAP”) and designated as RMAP Conformant by the Responsible Minerals Initiative. The remaining eight smelters sourcing from the Covered Countries were subjected to Malibu Boats’ risk mitigation process in accordance with the Organisation for Economic Co-Operation and Development Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High Risk Areas (“OECD Due Diligence Guidance”), as described below.

Although we requested information at a product level, many suppliers returned information at a company or division level, not at a product level. Such suppliers were unable to specify the smelters used for components supplied to Malibu Boats. Therefore the information provided was not necessarily limited to smelters contained in components supplied to us and confirmed to be in the Company’s supply chain.

Company Management Systems

Malibu Boats established strong management systems according to Step 1 of the OECD Due Diligence Guidance. Malibu Boats implemented the following:

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Exhibit 1.01
Step 1A - Adopted, and clearly communicated to suppliers and the public, a company policy for the supply chain of minerals originating from conflict-affected and high-risk areas. Malibu Boats:
implemented a conflict minerals policy, which is publicly available at https://investors.malibuboats.com/corporate-governance/governance-documents/; and
communicated the policy directly to suppliers as part of the RCOI process.
Step 1B - Structured internal management to support supply chain due diligence. Malibu Boats:
maintained an internal cross functional team to support supply chain due diligence;
appointed a member of the senior staff with the necessary competence, knowledge, and experience to oversee supply chain due diligence; and
applied the resources necessary to support the operation and monitoring of these processes including internal resources and external consulting support.
Step 1C - Established a system of transparency, information collection and control over the supply chain. Malibu Boats:
implemented a process to collect required supplier and smelter RCOI and due diligence data.
Step 1D - Strengthened company engagement with suppliers. Malibu Boats:
engaged directly with suppliers during the RCOI process;
reviewed supplier responses as part of the RCOI process;
added conflict minerals compliance to new supplier contracts and Malibu Boats’ supplier code of conduct; and
implemented a plan to improve the quantity and quality of supplier and smelter responses year over year.
Step 1E - Established a company and/or mine level grievance mechanism. Malibu Boats:
recognized the RMAP’s three audit protocols for gold, tin/tantalum, and tungsten as valid sources of smelter or mine level grievances; and
reviewed Malibu Boats’ ethics violations reporting system to ensure that it allows employees to voice confidentially without any fear of retribution, any concerns with the violations of the Malibu Boats’ conflict minerals policy.

Reasonable Country of Origin Inquiry

Malibu Boats designed its RCOI process in accordance with Steps 2A and 2B of the OECD Due Diligence Guidance. Malibu Boats’ RCOI process involved two stages:

Stage 1 - Supplier RCOI (Step 2A of the OECD Due Diligence Guidance)
Stage 2 - Smelter RCOI (Step 2B of the OECD Due Diligence Guidance)

Supplier RCOI

Malibu Boats designed its supplier RCOI process to identify, to the best of Malibu Boats’ efforts, the smelters in Malibu Boats’ supply chain in accordance with Step 2A of the OECD Due Diligence Guidance. Malibu Boats’ supplier RCOI process for the 2019 reporting period included the following:

developed a list of suppliers providing components containing 3TG to Malibu Boats;
contacted each supplier and requested the industry standard Conflict Minerals Reporting Template including smelter information;
reviewed supplier responses for accuracy and completeness;
amalgamated supplier provided smelters into a single list of smelters meeting the definition of a smelter under one of three industry recognized audit protocols; and
reviewed the final smelter list (and compared it to industry peers) to determine if Malibu Boats identified reasonably all of the smelters in their supply chain.

Malibu Boats’ suppliers identified 298 smelters in their supply chain. The specific list of smelters is included in “List of Smelter and Refineries” at the end of this report.

Smelter RCOI

Due to the overlap between smelter RCOI and smelter due diligence, the smelter RCOI process is summarized in the due diligence section of this report.

Due Diligence
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Exhibit 1.01

Malibu Boats’ due diligence process was designed in accordance with the applicable sections of Steps 2, 3, and 4 of the OECD Due Diligence Guidance.

Smelter RCOI and Due Diligence

Malibu Boats’ smelter RCOI and due diligence process were designed to:

identify the scope of the risk assessment of the mineral supply chain (OECD Due Diligence Guide Step 2B);
assess whether the smelters have carried out all elements of due diligence for responsible supply chains of minerals from conflict-affected and high-risk areas (OECD Due Diligence Guide Step 2C); and
carry out, where necessary, including through participation in industry-driven programs, joint spot checks at the mineral smelter’s own facilities (OECD Due Diligence Guide Step 2D).

Malibu Boats’ smelter RCOI and due diligence process included the following:

For each smelter identified in Malibu Boats’ supply chain, Malibu Boats:
attempted to engage directly with the smelter to determine whether or not the smelter sources from the Covered Countries;
reviewed publicly available information to determine if there was any contrary evidence to the smelter’s declaration for smelters that declared directly or through their relevant industry association that they did not source from the Covered Countries, and were not recognized as conflict free by the RMAP; and
reviewed publicly available sources to determine if there was any reason to believe that the smelter may have sourced from the Covered Countries during the reporting period for smelters that did not respond to our direct engagement.

For high risk smelters (smelters that are sourcing from or there is reason to believe they may be sourcing from the Covered Countries), Malibu Boats determined if the smelter was audited and recognized as conflict free by the RMAP.
For high risk smelters that have not been audited and recognized as conflict free by the RMAP, Malibu Boats communicated the risk to a designated member of senior management (OECD Due Diligence Guide Step 3A) and conducted risk mitigation on the smelter according to OECD Due Diligence Guide Step 3B.

For the 2019 reporting period, Malibu Boats’ RCOI and due diligence process was executed by Claigan Environmental Inc.

Malibu Boats’ suppliers identified 298 smelters. Malibu Boats identified 41 smelters that source, or there is a reason to believe they source, from the Covered Countries.

Malibu Boats determined that 33 of these 41 smelters have been audited and recognized as conflict free by the RMAP or RMAP Conformant. Malibu Boats conducted risk mitigation on the remaining eight smelters as discussed below.

Risk Mitigation

Malibu Boats conducted risk mitigation on eight smelters that were not recognized as conflict free by the RMAP and were sourcing from the Covered Countries. Malibu Boats’ risk mitigation was designed in accordance with Step 3B of the OECD Due Diligence Guidance and was reported to our Chief Financial Officer in accordance with Step 3A of the OECD Due Diligence Guidance. Malibu Boats’ risk mitigation process included the following:

conducted additional due diligence to determine if there was any reason to believe the smelter directly or indirectly financed or benefited armed groups in the Covered Countries;
attempted to verify with internal stakeholders and relevant suppliers whether 3TGs from the specific smelter were actually in Malibu Boats’ supply chain in the 2019 reporting period; and
engaged directly with each high risk smelter to verify risk and to encourage the smelter to become conflict free.

As discussed above, as many suppliers return information at a company or division level, and not at a product level, we are not able to determine if the eight remaining smelters are confirmed to be in Malibu Boats’ supply chain. We will continue to work with our suppliers to determine if these eight smelters can be directly linked to the actual parts or products sold to Malibu Boats.
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Exhibit 1.01

In addition, as part of our risk mitigation process we have engaged with each of them to verify risk and to encourage the smelter to become conflict free. We are continuing to work with the suppliers who currently have these eight smelters in their supply chain to evaluate the removal of these smelters from their supply chain.

Improvement Plan

Malibu Boats is dedicated to eliminating the use of Conflict Minerals that originate from mines controlled by non-governmental groups in the Covered Countries, who contribute to human rights abuses including human trafficking, inhumane treatment, forced labor, child labor, war crimes or crimes against humanity.

Malibu Boats is taking and will continue to take the following steps to improve the due diligence conducted to further mitigate any risk that the Conflict Minerals contained in the products manufactured or contracted for manufacture by Malibu Boats could directly or indirectly benefit or finance armed groups in the Covered Countries:

including a conflict minerals clause in all new and renewing supplier contracts;
continuing to drive our suppliers to obtain current, accurate, and complete information about the smelters in their supply chain;
continuing to work with our suppliers to encourage the removal of any high risk smelters;
evaluating ongoing supplier relationships with those suppliers that do not comply with our conflict minerals policy;
engaging smelters sourcing from the Covered Countries to become audited and certified to a protocol recognized by the RMAP; and
following up in 2020 on the smelter requiring risk mitigation, but not removal from Malibu Boats’ supply chain.

List of Smelters and Refineries

Below are the 298 smelters reported to Malibu Boats as likely to be in Malibu Boats’ supply chain in the 2019 reporting period. 41 of the smelters below are declared to be sourcing or there was reason to believe they may be sourcing from the Covered Countries. Under the SEC Final Rule, the requirement is to identify whether or not a smelter is sourcing from the Covered Countries; there is no requirement to identify the specific covered country by smelter. Given the limitation on the specificity of the smelters’ disclosures, the identified Covered Countries are The Democratic Republic of the Congo, Rwanda, Burundi, and Tanzania. As noted above, Malibu Boats has determined that of these 41 smelters, 33 have been audited and recognized as conflict free by the RMAP and Malibu Boats conducted risk mitigation on the remaining eight smelters.

Metal  Smelter Name
Gold8853 S.p.A.
GoldAbington Reldan Metals, LLC
GoldAdvanced Chemical Company
GoldAfrican Gold Refinery
GoldAida Chemical Industries Co., Ltd.
GoldAl Etihad Gold Refinery DMCC
GoldAllgemeine Gold-und Silberscheideanstalt A.G.
GoldAlmalyk Mining and Metallurgical Complex (AMMC)
GoldAngloGold Ashanti Córrego do Sítio Mineração
GoldArgor-Heraeus S.A.
GoldAsahi Pretec Corp.
GoldAsahi Refining Canada Ltd.
GoldAsahi Refining USA Inc.
GoldAsaka Riken Co., Ltd.
GoldAtasay Kuyumculuk Sanayi Ve Ticaret A.S.
GoldAU Traders and Refiners
GoldAurubis AG
GoldBangalore Refinery
GoldBangko Sentral ng Pilipinas (Central Bank of the Philippines)
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Exhibit 1.01
GoldBoliden AB
GoldC. Hafner GmbH + Co. KG
GoldCaridad
GoldCCR Refinery - Glencore Canada Corporation
GoldCendres + Métaux S.A.
GoldCGR Metalloys Pvt Ltd.
GoldChimet S.p.A.
GoldChugai Mining
GoldDaye Non-Ferrous Metals Mining Ltd.
GoldDegussa Sonne / Mond Goldhandel GmbH
GoldDijllah Gold Refinery FZC
GoldDODUCO Contacts and Refining GmbH
GoldDowa
GoldDS PRETECH Co., Ltd.
GoldDSC (Do Sung Corporation)
GoldEco-System Recycling Co., Ltd. East Plant
GoldEco-System Recycling Co., Ltd. North Plant
GoldEco-System Recycling Co., Ltd. West Plant
GoldEmirates Gold DMCC
GoldFidelity Printers and Refiners Ltd.
GoldFujairah Gold FZC
GoldGeib Refining Corporation
GoldGold Refinery of Zijin Mining Group Co., Ltd.
GoldGreat Wall Precious Metals Co., Ltd. of CBPM
GoldGuangdong Jinding Gold Limited
GoldGujarat Gold Centre
GoldGuoda Safina High-Tech Environmental Refinery Co., Ltd.
GoldHangzhou Fuchunjiang Smelting Co., Ltd.
GoldHeeSung Metal Ltd.
GoldHeimerle + Meule GmbH
GoldHeraeus Metals Hong Kong Ltd.
GoldHeraeus Precious Metals GmbH & Co. KG
GoldHunan Chenzhou Mining Co., Ltd.
GoldHunan Guiyang yinxing Nonferrous Smelting Co., Ltd.
GoldHwaSeong CJ Co., Ltd.
GoldInner Mongolia Qiankun Gold and Silver Refinery Share Co., Ltd.
GoldInternational Precious Metal Refiners
GoldIshifuku Metal Industry Co., Ltd.
GoldIstanbul Gold Refinery
GoldItalpreziosi
GoldJapan Mint
GoldJiangxi Copper Co., Ltd.
GoldJSC Ekaterinburg Non-Ferrous Metal Processing Plant
GoldJSC Novosibirsk Refinery
GoldJSC Uralelectromed
GoldJX Nippon Mining & Metals Co., Ltd.
GoldKaloti Precious Metals
GoldKazakhmys Smelting LLC
GoldKazzinc
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Exhibit 1.01
GoldKennecott Utah Copper LLC
GoldKGHM Polska Miedź Spółka Akcyjna
GoldKojima Chemicals Co., Ltd.
GoldKorea Zinc Co., Ltd.
GoldKyrgyzaltyn JSC
GoldKyshtym Copper-Electrolytic Plant ZAO
GoldL'azurde Company For Jewelry
GoldL'Orfebre S.A.
GoldLingbao Gold Co., Ltd.
GoldLingbao Jinyuan Tonghui Refinery Co., Ltd.
GoldLS-NIKKO Copper Inc.
GoldLuoyang Zijin Yinhui Gold Refinery Co., Ltd.
GoldMarsam Metals
GoldMaterion
GoldMatsuda Sangyo Co., Ltd.
GoldMetalor Technologies (Hong Kong) Ltd.
GoldMetalor Technologies (Singapore) Pte., Ltd.
GoldMetalor Technologies (Suzhou) Ltd.
GoldMetalor Technologies S.A.
GoldMetalor USA Refining Corporation
GoldMetalúrgica Met-Mex Peñoles S.A. De C.V.
GoldMitsubishi Materials Corporation
GoldMitsui Mining and Smelting Co., Ltd.
GoldMMTC-PAMP India Pvt., Ltd.
GoldModeltech Sdn Bhd
GoldMorris and Watson
GoldMoscow Special Alloys Processing Plant
GoldNadir Metal Rafineri San. Ve Tic. A.Ş.
GoldNavoi Mining and Metallurgical Combinat
GoldNH Recytech Company
GoldNihon Material Co., Ltd.
GoldÖgussa Österreichische Gold- und Silber-Scheideanstalt GmbH
GoldOhura Precious Metal Industry Co., Ltd.
GoldOJSC "The Gulidov Krasnoyarsk Non-Ferrous Metals Plant" (OJSC Krastsvetmet)
GoldPAMP S.A.
GoldPease & Curren
GoldPenglai Penggang Gold Industry Co., Ltd.
GoldPlanta Recuperadora de Metales SpA
GoldPrioksky Plant of Non-Ferrous Metals
GoldPT Aneka Tambang (Persero) Tbk
GoldPX Précinox S.A.
GoldQG Refining, LLC
GoldRand Refinery (Pty) Ltd.
GoldRefinery of Seemine Gold Co., Ltd.
GoldREMONDIS PMR B.V.
GoldRoyal Canadian Mint
GoldSAAMP
GoldSabin Metal Corp.
GoldSafimet S.p.A
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Exhibit 1.01
GoldSAFINA A.S.
GoldSai Refinery
GoldSamduck Precious Metals
GoldSAMWON Metals Corp.
GoldSAXONIA Edelmetalle GmbH
GoldSEMPSA Joyería Platería S.A.
GoldShandong Humon Smelting Co., Ltd.
GoldShandong Tiancheng Biological Gold Industrial Co., Ltd.
GoldShandong Zhaojin Gold & Silver Refinery Co., Ltd.
GoldSichuan Tianze Precious Metals Co., Ltd.
GoldSingway Technology Co., Ltd.
GoldSOE Shyolkovsky Factory of Secondary Precious Metals
GoldSolar Applied Materials Technology Corp.
GoldSovereign Metals
GoldState Research Institute Center for Physical Sciences and Technology
GoldSudan Gold Refinery
GoldSumitomo Metal Mining Co., Ltd.
GoldSungEel HiMetal Co., Ltd.
GoldT.C.A S.p.A
GoldTanaka Kikinzoku Kogyo K.K.
GoldThe Refinery of Shandong Gold Mining Co., Ltd.
GoldTokuriki Honten Co., Ltd.
GoldTongling Nonferrous Metals Group Co., Ltd.
GoldTony Goetz NV
GoldTOO Tau-Ken-Altyn
GoldTorecom
GoldUmicore Brasil Ltda.
GoldUmicore Precious Metals Thailand
GoldUmicore S.A. Business Unit Precious Metals Refining
GoldUnited Precious Metal Refining, Inc.
GoldValcambi S.A.
GoldWestern Australian Mint (T/a The Perth Mint)
GoldWIELAND Edelmetalle GmbH
GoldYamakin Co., Ltd.
GoldYokohama Metal Co., Ltd.
GoldYunnan Copper Industry Co., Ltd.
GoldZhongyuan Gold Smelter of Zhongjin Gold Corporation
TantalumAsaka Riken Co., Ltd.
TantalumChangsha South Tantalum Niobium Co., Ltd.
TantalumCP Metals Inc.
TantalumD Block Metals, LLC
TantalumExotech Inc.
TantalumF&X Electro-Materials Ltd.
TantalumFIR Metals & Resource Ltd.
TantalumGlobal Advanced Metals Aizu
TantalumGlobal Advanced Metals Boyertown
TantalumGuangdong Zhiyuan New Material Co., Ltd.
TantalumH.C. Starck Co., Ltd.
TantalumH.C. Starck Hermsdorf GmbH
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Exhibit 1.01
TantalumH.C. Starck Inc.
TantalumH.C. Starck Ltd.
TantalumH.C. Starck Smelting GmbH & Co. KG
TantalumH.C. Starck Tantalum and Niobium GmbH
TantalumHengyang King Xing Lifeng New Materials Co., Ltd.
TantalumJiangxi Dinghai Tantalum & Niobium Co., Ltd.
TantalumJiangxi Tuohong New Raw Material
TantalumJiuJiang JinXin Nonferrous Metals Co., Ltd.
TantalumJiujiang Tanbre Co., Ltd.
TantalumJiujiang Zhongao Tantalum & Niobium Co., Ltd.
TantalumKEMET Blue Metals
TantalumKEMET Blue Powder
TantalumLSM Brasil S.A.
TantalumMetallurgical Products India Pvt., Ltd.
TantalumMineração Taboca S.A.
TantalumMitsui Mining & Smelting
TantalumNingxia Orient Tantalum Industry Co., Ltd.
TantalumNPM Silmet AS
TantalumPower Resources Ltd.
TantalumQuantumClean
TantalumResind Indústria e Comércio Ltda.
TantalumRFH Tantalum Smeltery Co., Ltd./Yanling Jincheng Tantalum & Niobium Co., Ltd.
TantalumSolikamsk Magnesium Works OAO
TantalumTaki Chemical Co., Ltd.
TantalumTelex Metals
TantalumUlba Metallurgical Plant JSC
TantalumXinXing HaoRong Electronic Material Co., Ltd.
TinAlpha
TinAn Vinh Joint Stock Mineral Processing Company
TinChenzhou Yunxiang Mining and Metallurgy Co., Ltd.
TinChifeng Dajingzi Tin Industry Co., Ltd.
TinChina Tin Group Co., Ltd.
TinDongguan CiEXPO Environmental Engineering Co., Ltd.
TinDowa
TinElectro-Mechanical Facility of the Cao Bang Minerals & Metallurgy Joint Stock Company
TinEM Vinto
TinEstanho de Rondônia S.A.
TinFenix Metals
TinGejiu City Fuxiang Industry and Trade Co., Ltd.
TinGejiu Fengming Metallurgy Chemical Plant
TinGejiu Kai Meng Industry and Trade LLC
TinGejiu Non-Ferrous Metal Processing Co., Ltd.
TinGejiu Yunxin Nonferrous Electrolysis Co., Ltd.
TinGejiu Zili Mining And Metallurgy Co., Ltd.
TinGuangdong Hanhe Non-Ferrous Metal Co., Ltd.
TinGuanyang Guida Nonferrous Metal Smelting Plant
TinHuiChang Hill Tin Industry Co., Ltd.
TinHuichang Jinshunda Tin Co., Ltd.
TinJiangxi New Nanshan Technology Ltd.
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Exhibit 1.01
TinMa'anshan Weitai Tin Co., Ltd.
TinMagnu's Minerais Metais e Ligas Ltda.
TinMalaysia Smelting Corporation (MSC)
TinMelt Metais e Ligas S.A.
TinMetallic Resources, Inc.
TinMetallo Belgium N.V.
TinMetallo Spain S.L.U.
TinMineração Taboca S.A.
TinMinsur
TinMitsubishi Materials Corporation
TinModeltech Sdn Bhd
TinNghe Tinh Non-Ferrous Metals Joint Stock Company
TinO.M. Manufacturing (Thailand) Co., Ltd.
TinO.M. Manufacturing Philippines, Inc.
TinOperaciones Metalúrgicas S.A.
TinPongpipat Company Limited
TinPrecious Minerals and Smelting Limited
TinPT Artha Cipta Langgeng
TinPT ATD Makmur Mandiri Jaya
TinPT Menara Cipta Mulia
TinPT Mitra Stania Prima
TinPT Refined Bangka Tin
TinPT Timah Tbk Kundur
TinPT Timah Tbk Mentok
TinResind Indústria e Comércio Ltda.
TinRui Da Hung
TinSoft Metais Ltda.
TinSuper Ligas
TinThai Nguyen Mining and Metallurgy Co., Ltd.
TinThaisarco
TinTin Technology & Refining
TinTuyen Quang Non-Ferrous Metals Joint Stock Company
TinWhite Solder Metalurgia e Mineração Ltda.
TinYunnan Chengfeng Non-ferrous Metals Co., Ltd.
TinYunnan Tin Company Limited
TinYunnan Yunfan Non-ferrous Metals Co., Ltd.
TungstenA.L.M.T. TUNGSTEN Corp.
TungstenACL Metais Eireli
TungstenAsia Tungsten Products Vietnam Ltd.
TungstenChenzhou Diamond Tungsten Products Co., Ltd.
TungstenChongyi Zhangyuan Tungsten Co., Ltd.
TungstenCNMC (Guangxi) PGMA Co., Ltd.
TungstenFujian Ganmin RareMetal Co., Ltd.
TungstenFujian Jinxin Tungsten Co., Ltd.
TungstenGanzhou Haichuang Tungsten Co., Ltd.
TungstenGanzhou Huaxing Tungsten Products Co., Ltd.
TungstenGanzhou Jiangwu Ferrotungsten Co., Ltd.
TungstenGanzhou Seadragon W & Mo Co., Ltd.
TungstenGlobal Tungsten & Powders Corp.
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Exhibit 1.01
TungstenGuangdong Xianglu Tungsten Co., Ltd.
TungstenH.C. Starck Smelting GmbH & Co. KG
TungstenH.C. Starck Tungsten GmbH
TungstenHunan Chenzhou Mining Co., Ltd.
TungstenHunan Chuangda Vanadium Tungsten Co., Ltd. Wuji
TungstenHunan Chunchang Nonferrous Metals Co., Ltd.
TungstenHunan Litian Tungsten Industry Co., Ltd.
TungstenHydrometallurg, JSC
TungstenJapan New Metals Co., Ltd.
TungstenJiangwu H.C. Starck Tungsten Products Co., Ltd.
TungstenJiangxi Dayu Longxintai Tungsten Co., Ltd.
TungstenJiangxi Gan Bei Tungsten Co., Ltd.
TungstenJiangxi Minmetals Gao'an Non-ferrous Metals Co., Ltd.
TungstenJiangxi Tonggu Non-ferrous Metallurgical & Chemical Co., Ltd.
TungstenJiangxi Xinsheng Tungsten Industry Co., Ltd.
TungstenJiangxi Yaosheng Tungsten Co., Ltd.
TungstenJSC "Kirovgrad Hard Alloys Plant"
TungstenKennametal Fallon
TungstenKennametal Huntsville
TungstenKGETS Co., Ltd.
TungstenLianyou Metals Co., Ltd.
TungstenMalipo Haiyu Tungsten Co., Ltd.
TungstenMasan Tungsten Chemical LLC (MTC)
TungstenMoliren Ltd.
TungstenNiagara Refining LLC
TungstenPhilippine Chuangxin Industrial Co., Inc.
TungstenTejing (Vietnam) Tungsten Co., Ltd.
TungstenUnecha Refractory Metals Plant
TungstenWolfram Bergbau und Hütten AG
TungstenWoltech Korea Co., Ltd.
TungstenXiamen Tungsten (H.C.) Co., Ltd.
TungstenXiamen Tungsten Co., Ltd.
TungstenXinfeng Huarui Tungsten & Molybdenum New Material Co., Ltd.
TungstenXinhai Rendan Shaoguan Tungsten Co., Ltd.
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