Gypsum industry news

China: China National Building Material Company's (CNBM) net profit has fallen by 83% year-on-year to US$157m in 2015. Its revenue fell by 17.8% to US$15.4bn. China's largest cement producer has blamed the loss of profits on a steep drop in cement sales due to a national slowdown in fixed-asset investments, infrastructure construction and real estate investments.

The state-owned building materials company also produces gypsum wallboard, insulation materials and ceiling systems. Revenue from the sale of lightweight building materials fell by 7.6% to US$1.09bn as the price of gypsum wallboard fell. However, revenue from mineral wool insulation sales and composite materials rose by 25.3% to US$501m due to increased sales of pipes, tanks and rotor blades.

China: Four miners were rescued from a collapsed gypsum mine in Shandong Province on 29 January 2016 after 36 days trapped underground. About 1000 people have been involved in the rescue efforts, complicated by falling rocks, unstable geological structures, water outbursts and carbon monoxide leaks, according to the Xinhua news agency. The rescue was made after a 220m shaft was drilled to the trapped miners.

One miner died in the accident on 25 December 2015, while 11 were saved immediately after the incident, according to the report. Thirteen miners are still missing. The owner of the mine committed suicide by jumping into a flooded shaft after the accident and several executives of the mine are under police investigation.

China: A 190m borehole is being drilled to rescue four trapped miners from a Gypsum mine in Shandong. It is the fifth hole that has been drilled by the rescuers since the accident happened on 25 December 2015. The hole will be used as an escape passage for the four miners, according to China Radio International.

"Now the drill work has reached the layer of red sandstone, nearing the mine roadway. Everything went well on overall. We overcame the difficulties when drilling previous layers, and now it's the final sprint. The layer of red sandstone is as thick as 30m," said rescue worker Sang Jingqiu.

When the drilling is finished, rescuers will send down a rescue capsule to the miners in the underground tunnel. Rescuers have been able to pass food and other vital supplies through an emergency hole.

When the mine collapsed 29 miners were working underground. Apart from the four trapped miners that have been located, 11 have escaped or were rescued, one is confirmed dead and 13 remain missing.

China: Rescuers have dropped provisions to four Chinese mine workers trapped for 10 days in a wrecked gypsum mine and are slowly drilling a route to save them, according to Reuters.

The men are trapped more than 200m below the surface and state media has reported that they are in good condition. Because the ground is so fragile, the rescuers managed to drill only 25m deep after more than 40 hours. Rescue leader Du Bingjian said that he could not give a time when the men would be pulled up. The mine collapse on 25 December 2015 in Shandong killed at least one person. 13 others are missing and 11 made it to safety or were rescued earlier.

China's mines have long been the world's deadliest, but safety improvements have reduced deaths in recent years. In 2014, some 931 people were killed in mine accidents in China, drastically down from the year 2002, when nearly 7000 miners died.

China: Rescuers have found eight survivors five days after a gypsum mine collapse in Shandong Province. The accident happened on 25 December 2015 in Pingyi County when 29 people were working underground. One is confirmed dead, four managed to escape, and another seven have been rescued so far. The owner of the mine drowned himself by jumping into a well when working with the rescue team on 27 December 2015. The cause of the accident is under investigation.

China: China National Building Materials' (CNBM) 45.2%-owned subsidiary Beijing New Building Material Public Limited Company (BNBM) has agreed to acquire a 35% equity interest in Taishan Gypsum Company through a private issuance of 369 million BNBM shares to Taishan Gypsum minority shareholders at US$1.79/share for a total of US$661m.

Upon completion, BNBM will directly and indirectly hold the entire equity interest in Taishan Gypsum. Taishan Gypsum minority shareholders will hold 20.7% of the enlarged issued share capital of BNBM after the private issuance. The equity interest held by CNBM in BNBM will reduce from about 45.2% to 35.84%.

Upon completion of the transaction, Taishan Gypsum will be wholly-owned by BNBM, enabling CNBM to further integrate its internal resources, allowing BNBM to improve its operating results and further consolidate the group's market position.

China: China Vanadium Titano-Magnetite Mining said that it has agreed to acquire 51% of the paid-up registered capital of Sichuan Haoyuan New Materials Co Ltd at US$59.3m. Sichuan Haoyuan's wholly-owned subsidiary Hanyuan County Xinjin Mining Co Ltd currently holds the mining permit of the Shigou gypsum mine, which is located in Sichuan Province. The mine has a raw gypsum output capacity of 0.30Mt/yr.

China: China National Building Material Group (CNBM) produced 1.65BnM² of gypsum board in 2012. The Chinese state-owned building materials manufacturer reported that its operations revenue in 2012 grew by 14% year-on-year to US$35.5bn. CNBM saw its profit reach US$1.81bn, while its net profit for the year hit US$1.38bn. As the end of 2012, CMBM had US$46bn in total assets, 38% more than at the end of 2011.

China: Beijing New Building Materials has announced that its holding subsidiary Taishan Gypsum will spend more than US$39.3m building two gypsum wallboard plants and one cement retarder project using industrial by-product gypsum.

Taishan Gypsum will build one of its wallboard plants in the Shanghang Jiaoyang industrial park in Longyan City, Fujian Province. The project is estimated to cost roughly US$18.6m, of which US$5.6m will be raised by the company itself and US$13m from a bank loan.

China/Singapore: Sincap Group, a gypsum mining company in China's Shandong Province, has launched an initial public offering for a listing on the Catalist board of the Singapore Exchange. The company is offering 32.5 million shares, comprising 25.5 million new shares and seven million vendor shares, at US$0.16 apiece.

Sincap hopes to raise US$4.1m, which will be earmarked for use in diversification of its products and for general working capital. Specifically, the group plans to construct and commission a K-gypsum powder plant. K-gypsum powder, which can only be processed from crystalline gypsum, is commonly used in the manufacture of moulds for precision casting as well as plaster casts for medical uses. The company also possesses mining and exploration rights to some of the largest gypsum reserves in the Dawenkou Basin in Shandong Province.

"Our decision to list is timely considering our current stage of development. With the funds raised we will be able to realise the untapped potential in our gypsum business, particularly with regard to a new product, K-gypsum powder, that we intend to develop," said Sincap's chairman and CEO Fu Hao.