Australia/UK: InterGroup Mining has secured just under Euro60m from Luxembourg-based investment group GEM Global Yield as part of a share subscription facility. The Australia-based mining company says it will use the funds primarily for the ongoing development and commercialisation of its Brilliant Brumby kaolin and gold project in Queensland. The company hopes to sell the kaolin for use in cement and concrete production or as a feedstock for high purity alumina (HPA). It says it will be able to drawdown the funds over a 36-month term following a public listing of its common stock.

Neil Miller, the chairman of InterGroup said, “The GEM facility provides a major accelerator for InterGroup as we continue to prove up the scale of our Brilliant Brumby project and the optimal development path for the co-mining opportunity of kaolin and gold. It likewise enables us to continue our important research and development work into the new carbon reduction markets of potential scale that our minerals serve and which complement their existing known end markets.” InterGroup is currently working towards a potential stock market flotation in the second half of 2021.

Indonesia: Semen Indonesia’s revenue grew by 1.2% to US$1.13bn in the first half of 2021 from US$1.12bn in the same period in 2020. Its sales volumes of clinker and cement rose by 5.7% to 19.2Mt from 18.1Mt. Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 2.1% to US$247m from US$242m. The state-owned cement producer said that sales volumes were supported by growing domestic sales volumes and improving exports. It added that the national cement production capacity utilisation rate had fallen to 56% in 2020 from a high of 82% in 2014 due to new cement plants being built and a drop in domestic demand growth due to the coronavirus pandemic in 2020.

Italy: Buzzi Unicem’s net sales grew by 5.8% year-on-year to Euro1.61bn in the first half of 2021 from Euro1.52bn in the same period of 2020. Its sales volumes of cement and clinker rose by 10.9% to 14.8Mt from 13.4Mt. Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 12.3% to Euro352m from Euro314m. The group reported cement sales volumes growth in all territories with the exception of Poland, and Germany to a lesser extent. It also noted growth in ready-mixed concrete sales volumes of 7% to 5.8Mm3 with development in Italy, Poland and Ukraine more than compensating for ‘unfavourable’ changes in the US, Germany and the Czech Republic.

Saudi Arabia: Najran Cement’s revenue grew by 13.7% year-on-year to US$82.3m in the first half of 2021 from US$74.1m in the same period in 2020. Its net profit after zakat and tax increase by 27.9% to US$24.9m from US$19.5m. It reported lower sales and profit in the second quarter of 2021 due to Ramadan and Eid al-Fitr.