Costa Rica: Cementos Progreso has launched its brand in Costa Rica, marking its entry into a seventh Central/South American market.

Chief executive officer José Raúl González said “Our company believes in the region, understands its potential and is committed to adding value to all Central Americans. The launch of our flagship brand in the Costa Rican market is key to our growth and investment plans, which seek to generate development and employment in the local and regional cement industry."

India: Market research company CareEdge Research has forecast an 8 - 9% year-on-year rise in all-Indian cement demand to 380 - 390Mt throughout the 2023 financial year, which will end on 31 March 2023. CareEdge Research recorded an 11% year-on-year rise in domestic cement demand during the first eight months of the 2023 financial year, up to 30 November 2022. It attributed the growth to increased urban housing development and infrastructure activity. The market research company expects these factors to continue to drive demand growth into the final quarter of the financial year.

India produced 356Mt of cement in the 2022 financial year, up by 20% year-on-year from 296Mt in the 2021 financial year.

China: Jiangxi Wannianqing Cement has become the latest China-based cement producer to report a fall in its profit year-on-year for 2022. It recorded a net profit in the range of US$149 - 168m, down by 63 - 71% year-on-year from US$236m in 2021.

Pakistan: Lucky Cement recorded sales of US$876m in the first half of its 2023 financial year, up by 42% year-on-year from US$616m in the first half of the 2022 financial year. It sold 3.57Mt of cement and clinker, down by 24% year-on-year from 4.7Mt. The producer's costs rose by 50% to US$585m from US$391m. It recorded a profit of US$73.1m, up by 6.8% from US$68.4m.

During the half-year period, total national cement sales dropped by 17% year-on-year to 20Mt, while Pakistan's cement exports fell by 49% to 1.7Mt. The aftermath of flooding, high interest rates, inflation and cost of goods and cuts to government spending all impacted the domestic cement market, while 'global recessionary trends' cut into exports, according to Lucky Cement.

Lucky Cement holds a 15% share in the Pakistan market and a 34% share in the export market.

India: Adani Group has issued a rebuttal against a recent report by Hindenburg Research accusing it of accounting fraud and stock manipulation. In the 413-page rebuttal, the group identifies the report as a 'calculated attack on India.' Adani Group clarified that that its operations complied with 'all local laws' and that it had made necessary regulatory disclosures, according to the group.

BBC News has reported that Hindenburg Research denied the accusation of anti-Indian sentiment, calling the country an 'emerging superpower with an exciting future.' Hindenburg Research said "India's future is being held back by the Adani Group, which has draped itself in the Indian flag while systematically looting the nation."

Hindenburg Research accused Adani Group in late January 2023 of conducting a 'stock manipulation and accounting fraud scheme' over a period of ‘decades.’ It published its allegations in a report on its website. The investment research firm also disclosed that it had taken a short position on Adani Group, meaning that it might make money should the price of shares in Adani Group drop.

The full rebutal by Adani Group can be read online here

India: Mangalam Cement has secured a lease from the Rajasthan state government for the 204Mt Ninama Dunia limestone mine in Rajasthan's Kota District. Mangalam Cement won the auction with a highest final price offer of 85%, corresponding to a tax revenue of US$1.17m/yr for the state. Throughout the operational life of the mine up to 2073, the Rajasthan state government expects to collect revenues of US$1.22bn.

The Hindustan Times newspaper has reported that the Rajasthan government expects to auction four limestone mines in Banswara District later in 2023.

Rajasthan generates 20% of India's cement-grade limestone.

Philippines: CRH subsidiary Republic Cement and its waste management subsidiary Ecoloop are seeking to establish partnerships with 'sustainability-minded' organisations. BusinessWorld News has reported that Republic Cement and Ecoloop process waste for 12 private companies and 30 local government units. Philippines law will require that large organisations recover 80% of their plastic packaging waste by 2030. For 2023, the minimum is 2023.

Ecoloop managing director Angela Edralin-Valencia said “Our goal is to make our cement a greener and more environmentally friendly product. Our ambition is to replace 50% of our fuel consumption with alternative fuel (AF)." She added "A lot of investments have to be put in place from our end to get to that number, but we are still reviewing our options.”

Philippines: Cemex has launched an offer to acquire 12% of outstanding shares in Cemex Philippines, giving it a 90% stake in the company, for US$38m. Axis Negocios News has reported that the group is seeking to increase and consolidate its interests in Cemex Philippines in order to assess a potential divestment from its position.

In December 2020, Cemex increased its stake in its subsidiary Cemex Latam Holdings by 20% to 93%. It subsequently divested part of that business in 2022.

Germany: Hazemag has successfully completed its construction of a Centre Sizer 1025 crusher and a HAF25142 apron feeder. Hazemag will now despatch the equipment to Florida, US, where a ‘major aggregate and cement producer’ will integrate them in its operations.

Hazemag said “From the project’s inception, this producer focused on key partners that could deliver proven, reliable solutions - we are happy to be one of them.”

India: Shree Digvijay Cement recorded sales of US$25.2m during the third quarter of the 2023 Indian financial year (October – December 2022). This corresponds to a rise of 35% year-on-year from US$18.6m in the third quarter of the 2022 financial year. The producer overcame continued high costs during the period to record a profit of US$1.25m, up by 40% year-on-year from US$891,000.