Consolidated Gold Holdings enters JV to acquire plant

Consolidated Gold Holdings announced it has entered into a preliminary agreement to form a joint venture with a major Asian industrial and mining group to supply and distribute cement throughout the Philippines and Indonesia.

The joint venture will include the acquisition of an existing 1Mta cement plant in the Philippines, which will be used to grind and process clinker imported from China and Vietnam. Product will then be shipped to the Northern Sulawesi Province in Indonesia for packaging and local distribution. An initial production target for the plant will be 50,000tpm to begin by the 1Q17.