India: The Tamil Nadu government will impose a mineral-bearing land tax of US$1.82/t on limestone under the Tamil Nadu Mineral Bearing Land Tax Act 2024. This tax, payable in advance on mineral dispatch, is in addition to existing royalty charges. The announcement follows Karnataka’s recent decision to levy US$0.29/t on limestone mined.

The tax will raise production costs for cement producers in the region, particularly affecting Ramco Cements, which has 52% of its clinker capacity in Tamil Nadu, and Dalmia Bharat, which has 23%. Other Indian cement producers are less affected, with UltraTech Cement only holding 4% capacity in the area, and ACC 2%. This could mean that the cost increase is passed on to consumers, raising the price of cement.

US: Cement shipments fell by 6% year-on-year to 103Mt in 2024 from 109Mt in 2023. Data from the United States Geological Survey (USGS) shows that domestic shipments of Portland and blended cement decreased by 6% to 82.9Mt from 88.2Mt. However, imports only dipped slightly to 19.8Mt. Particular declines in shipments were recorded in the north-east and Texas. Türkiye remained the biggest source of imports in 2024 (7.16Mt), followed by Canada (4.85Mt), Vietnam (4.17Mt), Greece (1.82Mt) and Mexico (1.32Mt). Clinker production dropped by 7% to 71.6Mt from 76.8Mt.

India: The National Company Law Tribunal (NCLT) has approved the demerger and transfer of Vinay Cement’s cement and mining operations to Dalmia Cement (North East), both subsidiaries of Dalmia Bharat. The order comes into effect on 31 March 2025. Dalmia Bharat will not issue shares under the arrangement. Both subsidiaries will continue operating under the company following the approval.

Italy: Cementir recorded a 0.4% year-on-year decrease in sales revenue to €1.687bn from €1.694bn in 2023. This was reportedly widespread across all geographical areas except Türkiye and Sweden, driven by lower volumes in some regions and the depreciation of the Turkish Lira and Egyptian Pound. Group earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 0.9% to €407m from €411m in 2023. Net profit rose by 0.1% to €201.6m from €201.4m. The group sold 10.72Mt of grey and white cement and clinker in 2024, up by 0.5% year-on-year from 10.67Mt in 2023. According to the group’s financial report, this was due to good trading in Türkiye and to a lesser extent in the US and Egypt, which offset the volumes reduction in other areas.

Francesco Caltagirone, chair and CEO, said “2024 has been another satisfactory year for our group, which demonstrated remarkable resilience despite the complex geopolitical and macroeconomic backdrop. We are preparing to face the next three years with a strengthened industrial footprint, thanks to the upgraded Kiln 4 in Belgium, the second production line in Egypt, and the opportunity to completely decarbonise our Aalborg plant by 2030 with a limited investment. We look forward to the challenges ahead with renewed confidence.”