Global Cement News

Mexico: Cemex has launched a Green Financing Framework. The framework is intended to allow the building materials producer to issue green financing instruments aligned with the International Capital Market Association (ICMA) Green Bond Principles and the Loan Market Association Green Loan Principles. Under the Framework, Cemex intends to allocate the net proceeds from the issuances to finance eligible green projects in areas such as CO₂ emissions reduction, clean electricity and energy efficiency, clean transportation, water management, air quality, circular economy and waste management. The framework reflects the roadmap and objectives of Cemex's climate action program, Future in Action. Cemex says it is the first of its kind in the building materials sector.

“After launching our Sustainability-Linked Financing Framework in 2021, it is only natural for us to build on that initiative with additional sustainable finance innovation in the form of the Green Financing Framework, that will enable the building of a more resilient future for all,” said Maher Al-Haffar, Cemex's Chief Financial Officer (CFO) and founding member of the United Nations Global Compact CFO Coalition for the Sustainable Development Goals.

Tanzania/UK: Maweni Limestone has joined the World Cement Association (WCA) as a Corporate Member. The cement producer is based in Tanzania and it has a production capacity of 1.5Mt/yr. In 2020 it was acquired and reconstructed by China-based Huaxin Cement.

“We are delighted to welcome Maweni Limestone among our membership, as one of WCA’s key ambitions is to more effectively engage emerging-market players across the global cement ecosystem” explains Ian Riley, the chief executive officer of the WCA.

South Africa: PPC’s full-year consolidated sales were US$624m in the 2022 financial year, which ended on 31 March 2022, up by 11% year-on-year from US$561m in the 2021 financial year. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 6.9% to US$94.5m from US$101m. During the year, the group reduced its debt by 55% to US$63m from US$139m.

The group noted high cement demand across its markets in the 2022 financial year, including a sales volumes increase of 28% year-on-year in Zimbabwe. It also noted a 19% year-on-year increase in South African cement imports, mainly from Vietnam, which constituted 10% of sales in the 2022 financial year. PPC said that it will ‘immediately make additional capacity available’ to capture the increased demand through the rest of 2023 financial year.

US: A team from the University of Colorado Boulder (UCB) has developed a carbon-neutral alternative cement from biogenic limestone. The limestone comes from farmed cocolitophores, which capture CO₂ as they grow.

The UCB scientists collaborated with colleagues from the University of Carolina at Wilmington and the National Renewable Energy Laboratory on the project. Their work has received US$3.2m in US Department of Energy funding.

This news story has been corrected to include the correct name of the University of Colorado Boulder

India: Dalmia Bharat Refractories plans to launch its cement refractory products in new export markets. Chemical Industry Digest has reported that the company aims to achieve a turnover of US$191m in the 2023 financial year, and to launch a 3 – 4 year US$38.1 capital expenditure investment package. The supplier currently exports some refractories to Canada, Kenya, Morocco, Nigeria, Spain and West Asia.

Managing director and CEO Sameer Nagpal said “We have started some trials in Germany, before we turn regular suppliers and tap deeper into the export market.” Nagpal said that the company would also target other markets in Asia, Africa and Europe. He concluded “We are looking to gain a greater share of the customer’s wallet in these markets and in India.”