09 July 2024

China: China National Building Materials (CNBM) expects to report an unaudited loss of approximately US$275m for the first half of 2024, a significant downturn from a net profit of US$192.5m in the same period in 2023.

CNBM has attributed the anticipated loss to decreased selling prices and reduced sales volumes for key construction materials such as cement.

Belgium: Holcim has completed the acquisition of Mark Desmedt, a Belgium-based company that recycles more than 0.5Mt/yr of construction demolition materials. This acquisition aligns with Holcim's goal to recycle 10Mt/yr of construction demolition materials.

CEO of Holcim, Miljan Gutovic said "With the Mark Desmedt team, we are accelerating our vision to drive circular construction in the key metropolitan areas where we operate to build cities from cities. Strategically located between Brussels and Antwerp, Mark Desmedt will scale up our ECOCycle technology across Belgium, making circularity a driver of profitable growth.”

India: UltraTech is in talks to acquire Orient Cement, restarting discussions amid significant sector consolidation. This development follows UltraTech's recent acquisition of a 23% stake in India Cements. UltraTech has proposed buying Orient Cement for US$4.43-4.49 per share, offering a substantial premium over its current market value, with the deal valuing Orient at about US$874-$934m.

Australia: Woodside Energy and Cemex have invested US$6.7m in Melbourne-based KC8 Capture Technologies to support its efforts in achieving net zero emissions via carbon capture and storage.

KC8 is partnering with Cement Australia to construct a commercial demonstration plant in Gladstone, Queensland, aiming to capture 15t/day of CO₂. A partnership with Cemex aims to capture over 100t/day of CO₂ at one of its major plants. Additionally, KC8 plans a commercial pilot at the US Department of Energy’s National Carbon Capture Centre to capture 10-15t/day of CO₂ from natural gas combustion flue gas. The initiative has also secured US$6m from Low Emission Technology Australia and US$11.26m from the US government.

Executive director Greg Ross said "The funds will be used to expand KC8’s team and expedite deployment of its technology into hard-to-abate industries, such as cement – through a number of key projects."

Tanzania: The Tanzania Revenue Authority (TRA) has introduced a new digital verification application named Hakiki Stempu, aimed at helping consumers verify the quality of cement products and combat the sale of counterfeit and substandard cement.

Ndositwe Haonga, TRA Director for Internal Affairs, explained that Hakiki Stempu allows the public to check whether the product they are about to purchase is genuine or not by scanning the product to check if it has the right tax stamp. The app also serves as a tool for ensuring that products meet necessary standards and offer value for money.