Displaying items by tag: mineral reserves

Togo: The government has granted two mineral exploration permits to Dangote Cement to assess carbonate phosphate reserves in Kpomé Apéyémé, Zio prefecture and Akoumapé, Vo prefecture. The licences are valid for three years with options for renewal, according to the Liberté newspaper and Agence Ecofin. If suitable deposits are found then they could support plans by the cement producer to build a plant in the country. Dangote Cement received government clearance to build a 1.5Mt/yr grinding plant for US$60m in late 2019.

UK: Cemex has entered a conditional agreement with Breedon Group for the divestment of certain UK assets, including 49 ready-mix plants, 28 aggregate quarries and a cement terminal for Euro211m including Breedon Group’s assumption of Euro27.3m lease liability. Cemex UK retains the 1.2Mt/yr Rugby cement plant in Warwickshire. Breedon Group CEO Pat Ward said, “We expect the deal to be accretive to both earnings and free cash flow in the first full year, with a positive ongoing impact on the cash generation of the enlarged Group.” Cemex CEO Fernando Gonzalez said that the transaction ‘further rebalances our portfolio into our core markets, enhances our profitability and enables us to continue to focus on deleveraging.’

The businesses being handed over also include concrete products operations, depots and asphalt plants and fall under all six of Breedon Group’s regional divisions. Ward has said the acquisitions will significantly enlarge the group’s footprint in underrepresented divisions, implying that the cement terminal in question may be the Leith terminal in Scotland or the Newport terminal in Wales, two regions in which the company currently has no terminals to receive cement produced at its 1.5Mt/yr integrated Hope cement plant in Derbyshire. Breedon Group will seek to hire employees working on the operations from Cemex and expects to bring its total UK personnel to 3600 people as a result. It says its mineral reserves will exceed 1.0Bt.

Cemex UK retains 259 concrete plants and 36 aggregates quarries and dredging operations. Cemex said it ‘will retain a substantial integrated business in the UK encompassing cement production.’