Cement News tagged under: Zimbabwe
Zimbabwe considers limestone deposit consolidation amid efforts to reduce cement costs28 October 2024, Published under Cement NewsThe government of Zimbabwe is exploring the consolidation of limestone deposits under either the Industrial Development Corporation of Zimbabwe (IDCZ) or the Ministry of Mines and Mining Development, as outlined in the new Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP). This short-term policy framework aims to attract significant investment into domestic clinker production, a critical element for cement manufacturing, in a bid to revive the manufacturing sector and reduce relianc... |
PPC cement sales fall in 4M24-2501 October 2024, Published under Cement NewsPPC cement sales declined 4.6 per cent in South Africa and Botswana in the first four months of FY24-25. However, revenue increased by 1.6 per cent YoY, supported by a 5.5 per cent hike in prices. The company said it would continue to focus on the turnaround of its cement businesses to improve profitability and cash generation, focussing on people, organisational culture, processes as well as industrial and supply chain optimisation, reported The Star. “The South African cement business is... |
Local dam to be unaffected by new cement plant28 August 2024, Published under Cement NewsThe Zimbabwe National Water Authority (ZIMWA) has needed to dispel concerns over the establishment of a new US$1bn cement plant in Magunje, Zimbabwe would pollute the nearby Kemureza Dam. Labenmom Investments (Pty) Ltd and West International Holdings of China aim to build the plant and have been undergoing an Environmental Impact Assessment. The Hurungwe/Magunje cement project forms part of President Mnagawa’s Vision 2030 programme for national development. The opposition to the cement plan... |
Khayah Cement cites construction boom as an opportunity for growth02 August 2024, Published under Cement NewsKhayah Cement , formerly known as Lafarge Cement Zimbabwe, has forecast that the cement sector is set to grow following a boom in the construction industry, driven by investments in infrastructure development by the government and private entities. The company cited this boom in construction as the cause of increased demand for cement in Zimbabwe. Government incentives and private investments in infrastructure have played a key role in the heightened demand for cement in the countr... |
PPC signs agreement with Sinoma24 July 2024, Published under Cement NewsPPC has signed an agreement with Sinoma Overseas Development Corporation to transform PPC’s operations in South Africa, Zimbabwe and Botswana. According to Engineering News, the agreement includes improving efficiency, modernising technology, lowering production costs, increasing the use of non-fossil fuels and expanding production capacity. Commenting on the agreement, Matias Cardarelli, CEO at PPC, said, “In the current highly competitive environment, we must operate our industrial o... |
PPC FY23-24 results bolstered by strong Zimbabwe performance25 June 2024, Published under Cement NewsPPC has reported revenue of ZAR10,058m (US$551.8m) in FY23-24 (ended 31 March 2024), marking a 20.6 per cent increase from ZAR8339m in the same period a year earlier. According to the company, this was primarily driven by the strong performance in its Zimbabwean operations. EBITDA over the same time frame improved 38.6 per cent from ZAR896m to ZAR1242n, with the EBITDA margin up 1.6 percentage points to 12.3 per cent in FY23-24. In the South Africa and Botswana business, cement revenue... |
Khayah Cement highlights energy challenges20 June 2024, Published under Cement NewsKhayah Cement has said high energy costs along with cheap imports are threatening Zimbabwe’s cement producers, reports AllAfrica. According to the company, although power supply has remained relatively stable, power voltage fluctuations continue to affect the smooth running of its cement plant. “The high power costs compared to neighbouring Zambia continue to pose a significant challenge,” said Arnold Chikazhe, company secretary, Khayah Cement. According to Mr Chikazhe, c heaper cement... |
PPC Africa predicts 20% YoY increase in earnings17 June 2024, Published under Cement NewsPPC Africa has predicted a 20 per cent increase in earnings for the fiscal year ended 31 March 2024, driven by a strong performance by its Zimbabwe operations. According to The Zimbabwe Mail, the previous year saw PPC Zimbabwe hit by a prolonged kiln shutdown, which had a negative impact on profit. Compared to that prior year, the latest fiscal is expected to see the headline earnings per share jump by 20 per cent. In the 10 months to January 2024, PPC Zimbabwe reported volumes up by ... |
Capex falls behind targets for PPC04 April 2024, Published under Cement NewsPPC has announced that its capital expenditure fell behind targets for the period ending March 2024. This was due to a delay in the company’s fly ash project in Zimbabwe, which was announced last November. Delays in accessing the power plant, which halted the design and commercial contract, were also a key factor. PPC stated that, “Capital expenditure for the group remains behind the guidance of ZAR600m [US$32.2m] for the full financial year mainly due to the delay of the fly ash projec... |
PPC's success in Zimbabwe is contrasted by surrounding regions29 March 2024, Published under Cement NewsSouth Africa-based cement manufacturer PPC Cement SA (PTY) Ltd has announced that its operations in Zimbabwe are now debt free, with EBITDA improving 13.6 per cent, for the 10-month period ending January 2024). However, in contrast, sales volumes for its South Africa and Botswana operations fell by four per cent when compared to the equivalent period in the previous year. A spokesperson for PPC said, “Sales volumes in the coastal region experienced a sharper decline than in the inland ... |