Displaying items by tag: Mining
FLSmidth introduces new strategies for cement and mining sectors
18 January 2023Denmark: Equipment manufacturer FLSmidth has launched new corporate strategies for its cement and mining sectors. The so-called ‘pure play’ plans are intended to further focus on technology, products and services and sustainability. The group says it is also simplifying its operating model to reduce risks, improve efficiencies, ensure stronger execution and improve profitability and quality of earnings. The announcement was made at the same time as the group’s latest investor event.
Mikko Keto, the chief executive officer at FLSmidth, said “We must prioritise our efforts on our core business, reduce risk and execute with excellence. We have already started to fundamentally transform our business to ensure stronger strategy execution and to achieve our long-term ambitions to the benefit of our stakeholders.”
In the cement sector the group’s ‘Green 26’ plan aims to make the company the preferred service supplier for the industry. It added that it has a “clear commitment to drive the green transition in the cement industry.” It has set a target of reaching an 8% earnings before interest, taxation, depreciation and amortisation (EBITDA) margin by 2026. For the mining sector the target is a 13 - 15% margin.
In provisional financial results for 2022, FLSmidth revealed that it had an EBITDA margin of 3.3% for cement and 7.6% for mining. Group revenue rose by 24% year-on-year to Euro2.93bn in 2022 from Euro2.37bn in the 2021. Revenue from the cement and mining sectors grew by 7% to Euro847m and 29% to Euro2.03bn respectively. The group said that the short-term outlook for the cement industry remained impacted by overcapacity and that a potential recession is expected to impact market demand negatively over the coming period. Its mining sector revenue was inflated by the acquisition of ThyssenKrupp Mining in 2022.
Philippines: Republic Cement has won seven awards at the Presidential Mineral Industry Awards 2023. The producer’s Bulacan cement plant won the Platinum Achievement Award, while its Batangas, Iligan and Teresa plants all claimed Quarry Operations (Non-Metallic) Awards. The Bulacan plant also won the Best Forest Mining Award in the Non-Metallic category, in which the Iligan plant was second runner-up. Lastly, Bulacan cement plant won the Safest Mine (Non-Metallic) Award.
Republic Cement’s CEO Roman Menz said "Throughout our 67 years of service towards building the nation, Republic Cement has always been deeply and wholly committed to responsible mining. It is through responsible mining and our daily commitment to safety and sustainability that we are able to support robust communities and a thriving environment, towards a greener and stronger republic."
Cornwall Coal to plans new coal mine in Tasmania
05 January 2023Australia: The Australian government’s Department of Climate Change is receiving public comments on Cement Australia subsidiary Cornwall Coal’s plans to open a new coal mine in Tasmania’s Fingal Valley, near St Mary’s. Local press has reported that the proposed site will operate across three open pits, with a total area of 26ha. The mine will replace the company’s nearby Cullenswood coal mine when it runs out of coal later in 2023, and will operate until 2026 or 2027. Cornwall Coal’s Tasmanian operations currently supply coal for Cement Australia’s Railton cement plant, as well as other local industrial sites.
Under Cornwall Coal’s proposals, the company will build travel culverts for local wildlife, and assist in relocating animals currently occupying the site. Tasmanian devils and two species of quoll – all endangered – live on the land in question.
Mick Tucker, head of Break O’Day Municipality Council, said that the municipality currently depends on Cornwall Coal’s operations for 60 – 80 jobs. He said that the company’s plans have strong support in the local community.
Vietnamese coal consumption forecast to grow
03 January 2023Vietnam: Vietnam National Coal and Mineral Industries Group (Vinacomin) has forecast 6.1% three-year growth in national coal demand to 115Mt in 2025 from 108Mt in 2022. Four main industries – cement, fertilisers, metal and power generation – are expected to retain over 90% of the combined share of domestic consumption. Vinacomin expects national coal production to increase by 1.3Mt/yr over the period, retaining a 40 – 45% stake in the domestic market. Five-year consumption of imported lignite is forecast to rise to 70 – 75Mt throughout the period up to 2026.
India: The government of West Bengal plans to commence mining activity at the Deocha Pachami cement block in Birbhum District. The state hopes that the block will support further development of industries, including cement. Financial Express Online News has reported that Mangalam Cement, Purbanchal Cement and Shree Cement all plan to build new cement facilities in West Bengal. Shree Cement will invest US$102m in its planned Purulia grinding plant. Mangalam Cement's potential upcoming grinding plant will serve its planned new integrated cement plant in Chhattisgarh.
Police and protestors clash at ACC Masturi cement plant hearing
04 November 2022India: A violent disturbance brought an end to a public hearing over ACC's plans to establish a new integrated cement plant in Masturi, Chhattisgarh, on 3 November 2022. Police reportedly used 'mild force' to subdue protestors who claimed that ACC has acted illegally. The Free Press Journal has reported that land recorded by ACC as 'barren' in document submissions is allegedly used by residents for cultivation of rice and other crops.
Limestone mining has already commenced at the Masturi site.
UAE: Asian Paints has partnered with Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing Company in a 60:40 joint venture for the purpose of white cement and white cement clinker production. The joint venture will invest US$66.5m in the construction of a planned 265,000t/yr integrated cement plant in the Emirate of Fujairah. The project will take until October 2024 to complete. In addition, the new company plans to establish grinding units in India to serve the export market.
Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing Company operates limestone mines in Fujairah.
FLSmidth secures Euro150m sustainability-linked loan
13 October 2022Denmark: Nordic Investment Bank (NIB) has granted a 150m loan to FLSmidth to support technological developments for the growth of sustainability in the cement and mining sectors. The supplier said that the loan tracks three core sustainability indicators: FLSmidth's ratio of partners with SBTi-certified science-based targets, FLSmidth’s own Scope 1 and 2 CO2 emissions and its products' Scope 3 impacts.
Chief financial officer Roland Andersen said “With our MissionZero pledge, we are fully committed to developing technologies and solutions that will enable the mining and cement industries to move towards zero emissions by 2030. As sustainability is an integral part of everything we do, it is only natural for us to also link our financing to our sustainability ambitions. This is a first step in this direction, and we are very pleased with the long-term commitment provided by NIB."
Yura considering cement capacity growth
03 October 2022Peru: Grupo Gloria subsidiary Yura says that it is contemplating a cement production capacity expansion. The producer says that process optimisation across its Arequipa and Southern Peruvian cement footprint might go some way towards achieving the envisioned growth. It added that any such projects would go hand in hand with a reform of its customer service practices. Yura is also evaluating possible new limestone mining projects at Pampas del Pongo and Zafranal, and an expansion of its lime production.
DF Sud News has reported that Yura expects to increase its Peruvian cement deliveries by 8 – 10% year-on-year in 2022. Its cement, concrete and lime director for Peru, Chile and Bolivia, Julio Cáceres, forecasts that Peru’s construction demand will continue to grow at twice the rate of gross domestic product. He acknowledged that the company’s 2023 results will likely reflect the country’s expected muted growth compared to 2022. Cáceres said that US$700m-worth of private investment across 30 residential projects in Arequipa is currently suspended, pending the publication of the city’s revised metropolitan development plan.
Cemex USA loses Dowe Flats quarry dispute
30 September 2022US: The Board of County Commissioners of Boulder, Colorado, has denied Cemex USA’s application for a 15-year extension to its Dowe Flats quarry mining licence, following its expiry on 30 September 2022. Commissioner Claire Levy cited dust, traffic, noise and disturbances to wildlife as reasons behind the decision.
Cemex USA’s nearby Lyons cement plant has previously relied on the quarry for the supply of 760,000t/yr of limestone.