Editorial

It’s a new year, and that means everyone has an analysis of the cement market. I attended the Intercem conference in Miami last October, and Colin...
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Cement Newsline

The Portland Cement Association (PCA) released its annual Spring Forecast which envisions strong to moderate growth for cement consumption through 2019 and into 2020. PCA Market Intelligence expects cement consumption will grow by 2.3 percent in 2019; compared to the Fall 2018 forecast this...
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Features

Use Integrated Monitoring Networks to Reinforce Safe Working Conditions and Provide Input for Ongoing Data-Driven Mine Planning Decisions. By Phil...
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Latest Digital Edition

Cement Products

Increased production pressures have sparked a rise in inquiries regarding rapid dry-out materials. Often, the inquirer wants to use a rapid-fire material to reduce the downtime of their furnace equipment. However, businesses looking for a good balance of refractory properties should consider...
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Holcim Receives Overdue Payment from Venezuela

Venezuela paid Holcim Ltd. the final installment of a total $650 million agreed compensation for seizing the Swiss company’s cement plants in 2008, reported Bloomberg. The $97.5 million was due almost three months ago.

 

Former Venezuela President Hugo Chavez nationalized Venezuela’s cement industry in 2008 citing failures to sufficiently supply the local market. He also seized assets from Cemex SAB and Lafarge SA.

Investors have become increasingly concerned that Venezuela is running out of cash to pay its debt as its foreign reserves fall and its economy heads for its biggest contraction since 2009, according to data from the International Monetary Fund. Venezuela, which imports three-quarters of the goods it consumes, has seen export revenue slump as oil prices tumble.

The country ranks among the biggest losers from the recent decision by the Organization of Petroleum Exporting Countries to let the force of the market determine the price of oil, noted Bloomberg.

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