Gypsum industry news

Pakistan: The government will launch its first ever National Minerals Harmonisation Framework for 2025 on 8 April 2025. The aim of the framework is to streamline and standardise mining regulations across provinces and territories, with a view to attracting investments. It will include tax incentives, fast-tracked licensing and a dispute resolution mechanism. The News International has reported that provincial governments collaborated in drawing up the framework.

US/Canada: The costs of construction of new single-family homes are set to rise by US$7500 – 10,000/unit, according to the National Association of Home Builders. This is due to the government’s introduction of a new 25% tariff on Canadian gypsum wallboard and its raising of the tariff on softwood lumber to the same level from 14.5%.

Ukraine: Knauf Gips Ukraine has bought guarantees of origin for its electricity through Ukraine’s National Electronic Register. The guarantees confirm the sources of the company’s energy in Ukraine. Newsbase Daily News has reported that this will form the basis for future development of the country’s renewable energy market. Ukrainian authorities have previously attempted two green energy auctions, both of which failed due to investor concerns over the guaranteed buyers’ financial obligations and regulatory instability.

Power provider Elementum Energy Manager Olga Rybachuk said “The first investors in new projects will be those already in the market and familiar with the risks. Newcomers rely on their assessments. Green auctions are an important tool, but credit risk remains a critical factor.”

Australia/US: The value of James Hardie’s Australia-listed shares fell by 15% following the announcement of a deal to buy AZEK. Financial analysts have expressed concern that the company is overpaying for more access to a slowing US housing market, according to Reuters. Analysts from Morgan Stanley said that the deal carried "a heavy premium and elevated multiple.” They added that they expected the market would be wary of synergy savings targets.

James Hardie agreed to buy AZEK for US$8.75bn, using a combination of cash and shares, on 24 March 2025. As part of the deal it will take on AZEK’s net debt of US$386m. AZEK shareholders will receive US$26.5 in cash and 1.034 ordinary shares of James Hardie for each AZEKL share they own. Upon completion of the transaction, James Hardie and AZEK shareholders are expected to own approximately 74% and 26%, respectively, of the combined company. It is hoped that the deal will create a “leading exterior and outdoor living building products growth platform.” The transaction is expected to close in the second half of 2025. It is subject to customary closing conditions, regulatory approvals and AZEK shareholder approval.

James Hardie manufactures fibre gypsum products in Europe and fibre cement products around the world. It is headquartered in Ireland, its management is based in the US and it is listed in both Australia and the US. AZEK makes exterior residential decking, siding, trim and moulding products. It is based in the US.

Vietnam: Data from the Ministry of Industry and Trade indicates that the chemical and fertiliser sector is generating 1.4Mt/yr of phosphogypsum. It identified Dinh Vu DAP Plant in Hai Phong City, Lao Cai No. 2 DAP Plant and Duc Giang - Lao Cai DAP Plant as the three largest generators of the byproduct, according to the Sài Gòn Giải Phóng newspaper. The high volumes of phosphogypsum being created require large storage areas to be built. However, companies are facing issues expanding storage sites due to environmental regulations.

The Ministry of Construction has proposed establishing accounting regulations for phosphogypsum, ash and slag from fertiliser, chemical and thermoelectric plants. It is also promoting research into using ash, slag and gypsum as replacements for aggregate in road infrastructure projects.