Cement News tagged under: Dangote Cement
Dangote Cement delivers strong financial performance02 May 2017, Published under Cement NewsDangote Cement reported a strong financial performance in 1Q17 despite a fall in volumes, with record revenues which were up by 48.1 per cent to NGN208.2bn (US$679.6m) and record EBITDA of NGN103.bn, up 42.3 per cent. “Dangote Cement produced record financial results in the first three months of 2017. Despite lower Group volumes, we delivered significantly higher revenues and EBITDA after realigning prices late in 2016. Our new pricing strategy meant every tonne worked harder for us in Ni... |
Ethiopian production faces disruptions over jobs plan23 March 2017, Published under Cement NewsRegional officials in Ethiopia are demanding that foreign cement producers, including Dangote Cement and Derba Midroc Cement, should let cooperatives of unemployed young adults run part of their mining businesses. A draft contract drawn up by Oromia state’s East Shewa Zone administration this month calls for the young adults to operate pumice mines for the cement producers, according to Bloomberg. Prime Minister Hailemariam Desalegn’s administration is trying to reduce youth unemployme... |
Nigerian government commends Dangote Cement self-sufficiency feat20 March 2017, Published under Cement NewsThe Nigerian government has officially confirmed that Nigeria has attained self-sufficiency in the production of cement and is now an exporter of the commodity, ascribing the feat to Dangote Cement which spare headed the backward integration policy introduced by the government, the cement company said in a statement today. Minister for Solid Minerals Development, Dr Kayode Fayemi, who leads a team of the federal government to the Dangote Cement plants in Ibese, Ogun State, at the weekend s... |
Tanzania: state offers Dangote land to mine coal13 March 2017, Published under Cement NewsFollowing last year’s deal by Tanzania’s government to supply natural gas to Dangote Cement in the southeastern town of Mtwara, the state has offered land to the Nigerian company to mine coal for its operations. Tanzania’s Ministry of Energy and Minerals handed a 10km 2 plot of land to the 3Mta cement factory set up in 2015. According to local sources, the move was sanctioned by President John Magufuli to allow the company get a reliable supply of coal to fuel its activities. Tanzania ha... |
Tanzania: Dangote prepares for coal extraction in Ngaka06 March 2017, Published under Cement NewsTanzanian President, John Magufuli, has taken action to enable Dangote Cement to start mining its own coal to power its new US$650m Mtwara cement factory. Speaking at the official launch of the 580 trucks, which will be used by Dangote to transport cement from the southern region of Mtwara to the rest of the country, Mr Magufuli gave a seven-day ultimatum for the Ministry of Energy and Minerals to ensure that the coal mining area in Ngaka is available to the cement producer to start mining... |
Dangote switches strategies to improve margins03 March 2017, Published under Cement NewsThis week Dangote Cement held a press conference on its 2016 results and explained why its market strategy in Nigeria changed from a volume-based approach to one focussing on cashflow and increased profit margins going forward. In the first two quarters of 2016, Dangote found high cement volumes were working well. The group’s total cement volumes rose in Nigeria by 13.8 per cent to 15.1Mt in 2016, from 14.8Mt in 2015. Moreover, the company’s market share increased substantially up to June... |
Nigeria: fuel shortages hit cement output16 February 2017, Published under Cement NewsShortages of oil and natural gas have caused cement producers in Nigeria to cut output, with some plants having to close temporarily, reports the Vanguard newspaper. The declining availability of natural gas, low-pour fuel oil and (LPFO), automotive gas oil (AGO) has led to a reduction in cement manufacturing as firms struggle to find sufficient fuel to support normal operations. Dangote, Nigeria’s largest producer, said that its fuel costs rose US$14.40/t in 2016 and that it was conve... |
Cameroon: smuggled Dangote cement creates price drop08 February 2017, Published under Cement NewsDangote cement currently sells between XAF-2800-3500 (US$4.55-5.68) per 50kg bag in northern Cameroon, significantly lower than the XAF4500-4600 applicable in the south of the country, local sources revealed. The price erosion results from smuggling activity suffered by Dangote in the northern part of the country. Important cargoes of Dangote cement sold in this area of Cameroon come directly from Nigeria, despite there being a ban on imports of cement in Cameroon, implemented by public ... |
Ethiopia: Dangote to establish production line for cement bags01 February 2017, Published under Cement NewsAliko Dangote has used his meeting with the Prime Minister of Ethiopia to outline his conglomerate’s plans to increase investment in the country, the Ethiopian Herald reports. In a press conference following the meeting, Dangote told reporters that he planned to manufacture cement bags in Ethiopia. The bags currently used by the Dangote Cement operations in the country had to be imported, costing the firm millions of dollars. "We are also opening a very big factory to produce cement ba... |
Nigeria: Aliko Dangote rewards domestic cement distributors24 January 2017, Published under Cement NewsDangote Cement Plc has rewarded its distributors with NGN2.4bn (US$7.8m) as sales bonus and for their continuous loyalty. Another NGN5bn has been set aside to assist the distributors in enhancing their sales. Chairman, Aliko Dangote, gave out the cheques ranging from NGN30m to NGN182.9m to distributors at a ceremony in Lagos at the weekend. He hailed them for their long-standing commitment, devotion, loyalty and valuable contribution to the distribution and sale of Dangote Cement in 2... |