Displaying items by tag: Reserve

India: UltraTech Cement and India Cements are reportedly poised to conclude a deal for the acquisition of the latter’s 185ha Pawai limestone mine in Panna, Madhya Pradesh, by Mumbai-based UltraTech Cement. Marketline News has reported that the Aditya Birla subsidiary expects to pay US$98m for the asset.

Turkmenistan: Iron ore reserves of between 70Mt and 75Mt of around 20% iron recently discovered in the Turkmenbeshi district of western Turkmenistan could replace other ingredients in ordinary Portland cement (OPC) clinker production in the region, resulting in savings of US$10m/yr for producers. Trend News has reported that the deposits, located near Turkmencement’s 1.3Mt/yr integrated Kelete plant and Polimeks’ 1.0Mt/yr integrated Jebel plant, could sustain production for a century.

India: Prism Johnson, formerly known as Prism Cement, has received a letter of intent from the state government of Madhya Pradesh allocating it a mining lease for limestone. The agreement lasts 50 years for a site at Bairiah and Chormari villages and it includes approximately 77Mt of reserves.

Saudi Arabia: Dr Tawfiq Fawzan Al-Rabea, Minister of Commerce and Industry in Saudi Arabia, has asked cement producers to build a 'strategic' reserve of two months inventory at each plant and to cover any shortage by importing cement.

At a meeting with local cement producers, which was held to ensure that companies are abiding by their commitments to import cement, Al-Rabea said that the ministry is monitoring the imported quantities and that the companies must import the quantity specified for them in line with the local market needs. He added that any delay or disregard of their commitments would be penalised.

Meanwhile, Dr Zamil Al-Muqrin, Chairman of the National Committee for Cement Companies, said that the firms have corresponded with the international companies and the first quantities of imported cement will reach the Kingdom within two weeks.