08 September 2015
Holcim Liban net profits down 78% in first half of 2015 08 September 2015
Lebanon: Holcim Liban has reported US$2m of unaudited net profits in the first half of 2015, a decrease of 78.3% from net earnings of US$9.4m in the same period of 2014. The company's sales fell by 28.5% year-on-year to US$66.7m in the first half of 2015. Its gross profits margin reached 28% compared to 30.7% in the first half of 2014. Holcim Liban's assets fell by 3% year-on-year to US$275m at the end of June 2015
Volcan could sell Polpaico stake 08 September 2015
Chile/Peru: Peruvian mining company Volcan could sell its share in Chilean cement producer Polpaico if metal prices continue to fall, according to Volcan's CFO Jorge Murillo. Volcan could receive around US$27m for its approximate 20% stake in the business. Holcim, part of LafargeHolcim, owns 54.3% of Polpaico, which has 2.7Mt/yr of cement production capacity.
Senj Sant cement plant opens in Mongolia 08 September 2015
Mongolia: The Senj Sant cement plant was opened on 13 August 2015 in Urgun Soum, Dornogovi, some 450km from the capital Ulaanbaatar, according to the European Bank for Reconstruction and Development (EBRD). The plant will be the first greenfield cement plant in Mongolia to use the dry process, which is especially significant in the Gobi region, where water is scarce. The plant will also use a waste heat recovery power plant, which will help save energy and water.
The project includes a gender action plan, which means there will be more opportunities for women. Most of the directors of Senj Sant are women. The plant will be overseen by Munkhnasan Narmandakh, the female CEO of its parent holding company, Monpolymet Group, one of Mongolia's leading mining operations. The holding company has an all-female board of directors.
The EBRD provided a financing package of US$85m, which consisted of a US$20m equity investment and a US$65m loan to Senj Sant. The Development Bank of Mongolia lent US$65m. The remaining US$80m of the total project cost of US$230m was funded by the Monpolymet Group.
"This project will be a major step towards establishing domestic cement supply and replacing imports. It is also important for the country's economic diversification," said the EBRD's senior banker in charge of the project, Azjargal Ulziitogtokh. "The EBRD is proud to highlight that the project meets EU requirements and will be using best available technology. Personally, as a Mongolian female professional, I am also very pleased to say that the company has a gender action plan to ensure equal opportunities, which goes beyond industry standards, not only in Mongolia but in the whole region where the EBRD works."
To date, the EBRD has committed over US$1bn to Mongolia's economy. All of the Bank's projects so far have supported private sector companies.