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Coal price in Northern Pakistan drops to US$126/t 23 August 2023
Pakistan: Cement producers in Northern Pakistan have reported a 13% drop in the price of coal to US$126/t. The Pakistan Today newspaper has reported that this is due to the Afghan government lowering taxes on exports of coal from Afghanistan. The Taliban reduced its royalties on coal exports by 12% to US$30/t. Meanwhile, it reduced customs duties on coal exports by 33%, also to US$30/t.
Northern Pakistan is comprised of Azad Jammu and Kashmir, Khyber Pakhtunkhwa and Punjab. In 2022, regional cement plants were over 70% reliant on Afghan coal. That year, they paid coal prices of US$170 – 200/t.
Germany: Menzel Elektromotoren has completed internal construction of its upcoming Hennigsdorf motor plant and will now commence relocation of equipment from its existing Berlin facility. Commissioning is scheduled for early 2024. The 24,000m2 Hennigsdorf site will also double as company headquarters.
Menzel Elektromotoren assured customers that “The production and shipping of industrial motors in the high output range will continue without interruption.”
Uzbekistan: Anhui Conch Cement inaugurated its new 2.3Mt/yr Tashkent cement plant at Kiziloy on 21 August 2023. The plant cost US$320m and will produce 30% of its cement for export. UzReport News has reported that the plant will directly employ 300 people.
West China Cement raises sales in first half of 2023 22 August 2023
China: West China Cement recorded sales of US$605m during the first quarter of 2023, up by 5.6% year-on-year from US$573m in the first half of 2022, Reuters has reported. Nonetheless, its net profit dropped by 19% to US$72.9m from US$90.6m.
Tanzania: The Tanzania Fair Competition Tribunal (FCT) has ruled that Heidelberg Materials subsidiary Scancem International cannot acquire Tanga Cement from AfriSam at present. The Fair Competition Committee had previously approved the acquisition to proceed in February 2023. In its latest ruling, the FCT found that the commission had not been within its powers to set aside a previous court ruling of the FCT, dated September 2022. The FCT acknowledged that the market situation may have changed since its first ruling, but underlined the need for legal procedure.
Judge Salma Maghimbi said “The act or conduct of the two respondents did not send a good message to the public, nor to potential investors who would have been interested in coming to invest in our country.”