Cement News tagged under: Dangote Cement
Dangote London IPO and Eurobond would need Board approval19 February 2018, Published under Cement NewsAccording to Bloomberg, Dangote Cement Plc is potentially reviving plans for an Initial Public Offering sale in London that could raise about US$1bn. The Nigerian company is said to have approached investment bankers to discuss a potential UK listing and issuing a debut Eurobond. ICR spoke to a Dangote spokesperson who said, "Such corporate actions as Bloomberg reports would require Board approval..." Currently, Dangote claims no such decision has been taken on either matter. |
Foreign producers may find Ethiopian raw materials difficult to secure16 February 2018, Published under Cement NewsCement companies in Ethiopia may in future need mining rights from local regional governments as well as Central government to excavate raw materials. The administration of the East Shewa Zone with the Oromia region, for example, has written to foreign cement firms that mine pumice for cement production to cede some of their operations to the cooperatives of unemployed youths in their areas. The Ethiopian cement market is being fiercely contested by some 17 or more producers. Utilisa... |
Dangote Cement Nepal is denied mining licence02 January 2018, Published under Cement NewsDangote Cement Nepal Pvt Ltd has lost its attempt to win an open bid for a mining licence in Nepal. It has been technically disqualified for the detailed exploration of three limestone mines, after its proposal lacked details about the experienced hands needed for such work. However, Dangote group General Manager, Hikmat Thapa, said: “We are saddened by news that we are disqualified technically.” The Investment Board Nepal (IBN) had approved the investment in 2013 following an assessment... |
Bridge closures in Ghana raise cement prices19 December 2017, Published under Cement NewsThe price of cement in Tamale, Ghana, has risen to GHS34-35 per bag (US$7-7.70 per bag), an increase of GHS3, on the back of a cement shortage due to bridge closures in the the Central Gonja District. The price hike is a result of Dangote requiring an alternative transport route and Diamond Cement halting production. The bridges are closed for major repair work to save them from further deterioration. |
BUA seeks President's support to end mining rights squabble07 December 2017, Published under Cement NewsNigerian conglomerate BUA group has asked Nigeria's President, Muhammadu Buhari, to intervene in its argument with Dangote group over limestone mining rights. BUA's Chairman, Abdulsamad Rabiu, said Dangote group was undermining security around his plant in southwest Edo state, a region with limestone. Dangote's cement operation is in the central state of Kogi. The mines ministry said BUA group does not have a mining lease for the disputed site, which is the subject of a legal case, and it... |
Dangote Cement to begin selling products on Jumia04 December 2017, Published under Cement NewsDangote Cement will begin selling its products on the e-commerce platform, Jumia. This is an attempt establish a secure platform for customers to purchase products, thereby avoiding fake vendors who claim to be selling Dangote products at a cheaper price, according to The Nation. "A bag of cement on the platform is only NGN2500 and it includes the cost of freighting and offloading to the warehouse of the customers. Convenience and reliability are assured. This will hopefully address onli... |
Dangote Cement inaugurates plant in Rep of Congo23 November 2017, Published under Cement NewsDangote Cement will inaugurate its 1.5Mta cement plant in the Republic of Congo on Thursday. The plant is expected to create approximately 1000 jobs and will become Dangote's 10th fully-operational plant in Africa. The US$500m works produced its first bag of cement on 7 August. Unaudited 3Q results show that the new plant has almost doubled the size of the cement sector in Congo, according to Vanguard. Meanwhile, Dangote Cement saw an increase of 7.5 per cent in pan-African cement sal... |
PPC01 November 2017, Published under Cement NewsOctober has seen the saga over PPC’s future continue to dominate the headlines. Last month saw AfriSam submit a merger deal, backed by Toronto-based Fairfax Financial Holdings. However, Prudential Investment Managers, which holds a 13-14 per cent stake in PPC, opposed the merger saying that the AfriSam deal undervalued PPC and that PPC’s share price would double in the next 3-4 years as operations across Africa ramp up. Visio Capital Management, which has a seven per cent share in PPC, th... |
Dangote Cement group increases revenues by 37% in 9M1720 October 2017, Published under Cement NewsDangote Cement’s overall group revenue increased by 36.5 per cent from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1 per cent fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6 per cent compared to NGN133.5bn in 2016. “Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37 per cent despite a fall in volumes. In our key ... |
Dangote pull out of potential PPC acqusition deal09 October 2017, Published under Cement NewsDangote Cement Plc, pulled out of its bid to acquire the share capital of PPC Ltd. In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital. Dangote Cement had last month confirmed that it had initiated a bid to acquire PPC Lt. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained... |