22 December 2017
Chinese competition body approves CNBM and Sinoma merger 22 December 2017
China: The Anti-monopoly Bureau of the Ministry of Commerce has approved the merger between China National Building Material (CNBM) and China National Materials (Sinoma). Shareholders approved the merger between the leading Chinese producer and the equipment manufacturer in early December 2017 following approval by the Fair Trade Commission in South Korea in November 2017.
Mechel signs coal deal with Jidong Cement 22 December 2017
China/Russia: Mechel has signed a memorandum for coal supply with China’s Jidong Cement. The Russian mining and metals company will supply the Jidong Cement with up to 3Mt of steam coal mined at Elgaugol’s Elga Open Pit and Yakutugol’s Neryungrinsky Open Pit. Prices will be adjusted on a monthly basis following negotiations and on the basis of index rates.
“Jidong Cement is our longstanding and strategic partner in Asia, and we aim to continue our long-term and mutually profitable partnership. Mechel’s mining division has met all its obligations on our prior agreement. Today, Jidong Cement is the chief foreign consumer of Elga’s steam coal,” said Mechel chief executive officer (CEO) Oleg Korzhov.
St Marys Cement suspends production at Dixon plant 22 December 2017
US: St Marys Cement has suspended production at its Dixon plant in Illinois. The move will result in about two-thirds of the employees losing their jobs, according to the Sauk Valley Newspapers. The company, a subsidiary of Brazil’s Votorantim, plans to continue cement grinding at the site until the summer of 2018 when its inventory will be exhausted. Then the plant will be used as a distribution terminal only.
The company said that the decision was made to improve cost efficiencies and that the plant’s location was poor compared to other sites. However, it plans to review its decision on stopping production by the end of 2018.
The Dixon cement plant originally opened in 1914 before becoming idle in 2008. Production then resumed in 2015.