03 July 2023

Oman: Huaxin Cement informed the Muscat Stock Exchange of its intent to buy a further 5.1% stake in Oman Cement on 3 July 2023. Zawya News has reported that this would increase the China-based group's stake in Oman Cement to 64.7%. It acquired its existing 59.6% in the producer for US$193m earlier in 2023, but subsequently revised the price to US$200m.

India: UltraTech Cement increased its cement sales volumes by 20% to 30Mt in the first quarter of the 2024 financial year. Press Trust of India News has reported that the producer sold 950,000t of cement outside of India, up by 13% from 840,000t a year earlier.

During the year, UltraTech Cement recorded a capacity utilisation rate of 90% across its 136Mt/yr capacity.

Philippines: Holcim Philippines and Sungshin Cement have signed a memorandum of understanding whereby Holcim Philippines will be priority supplier of cement for use in Sungshin Cement's ready-mix concrete operations in the Philippines, InPR News has reported. South Korea-based Sungshin is anticipating growing demand from infrastructure projects, partly due to a US$3bn development loan agreement between the government of the Philippines and South Korea.

US: The Mine Safety and Health Administration (MSHA) has fined Dragon Products for failure to comply with mine safety rules. The Maine Monitor newspaper has reported that inspectors issued 33 citations following an inspection of its quarry in May 2023.

Thomaston cement plant manager Jennifer Small said that the citations primarily relate to 'housekeeping,' and that the company has 'promptly addressed these citations and worked closely with the MSHA to improve plant safety.'

Dragon Products, a subsidiary of Giant Cement, paid mine safety fines worth US$150,000 in 2022, US$76,700 in 2021 and US$134,000 in 2020.