Gypsum industry news

Australia: Minotaur Exploration is looking to sell its gypsum deposit at Lake Purdilla, Eyre Peninsula in South Australia. The mineral exploration company reports that the 87Mt deposit has an estimated purity of 91% gypsum consisting of gypsarenite and selenite. The site has been classified as an Inferred Resource based on previous drilling programmes.

Lake Purdilla is believed to be the largest known undeveloped gypsum resource in South Australia. Minotaur Exploration estimates that the site could be mined at a rate of 1Mt/yr for over 50 years. Gypsum from the site would be suitable for domestic use for wallboard production, cement manufacture and agricultural use. It could also be eligible for export to Southeast Asia.

Previously Minotaur Exploration agreed a sale worth US$4.8m for the Lake Purdilla gypsum deposit in late October 2014. The buyer was unnamed.

Iran: Ammar Bashare, the director of the Middle East trade development section of Saint-Gobain, has expressed his company's desire to invest in the gypsum plaster industry in Semnan province. He made the comments in a meeting with Ali Asghar Joma'ei, the head of the province's Chamber of Commerce, Industry, Mine and Agriculture, as reported by the Islamic Republic News Agency.

Bashare said that Saint-Gobain is ready to invest in the local plaster industry and he hoped that his company could have more cooperation with local Iranian companies when the economic sanctions are lifted.

Joma'ei said that around 40 plaster producer companies are active in Semnan province and that foreign investors should bring modern technology into Iran. He also noted the readiness of a number of investors from Turkey and Germany in the industry. He added that the province is ready for 100% foreign investment or joint venture partnerships.

Semnan produces 40,000t/day of plaster. It exports plaster to Iraq, Turkmenistan and India.

US: Headwaters Resources has announced it has entered into a definitive agreement to purchase 100% of the membership interests of Synthetic Materials based in Louisville, Kentucky. The acquisition, which is subject to the satisfaction of certain closing conditions, is expected to close in Headwaters current fiscal year. It is intended to complement the coal combustion product management operations of Headwaters.

Synthetic Materials handles synthetic gypsum processing and management. It has 21 years of experience providing services to the flue gas desulfurisation industry, including the design and construction of gypsum dewatering systems, gypsum marketing, landfill and pond management. At present it provides operations and maintenance services at 10 different utility sites and manages over 4Mt/yr of bulk synthetic gypsum, generating approximately US$25m in annual revenue. The expected purchase price will range between US$38 – 45m, depending upon certain conditions.

Canada: Continental Building Products has announced that Chantal D Veevaete and Michael J Keough will join its Board of Directors as independent directors, effective from 14 March 2016. Veevaete will join the Compensation Committee and Keough will join the Nominating and Governance Committee. They will replace Chad Suss and Kevin Barner, who were affiliated with the Company's private equity sponsor, Lone Star Funds. Suss and Barner will resign effective from 11 March 2016.

Veevaete has experience in senior leadership positions in several industries, with a particular expertise in human resources. Most recently, from May 2012 through December 2014 Veevaete served as Senior Vice President, Human Resources of Phillips 66, a diversified energy and logistics company. Prior to that she helped implement the separation of Phillips 66 from ConocoPhillips. From April 2009 through January 2012 Veevaete served as Vice President, Human Resources of Chevron Phillips Chemical, and before that served in human resources roles for companies in the health care industry.

Keough has experience in senior leadership and operating roles, including serving as Chief Executive Officer of several manufacturing companies. Most recently, Keough served as President and Chief Executive Officer of Stronghaven, which has been a subsidiary of Hood Container Corporation since December 2013. From January 2005 through May 2010 Keough was President and Chief Executive Officer of Caraustar Industries, a manufacturer of paperboard and paperboard products.