US: Gypsum Management and Supply Inc (GMS), a US distributor of wallboard, has signed an agreement to acquire Serrano Drywall Supply in Iowa City, Iowa. Serrano Drywall Supply will become the 11th location under Tamarack Materials, a GMS company with locations in Minnesota, Wisconsin and the Dakotas. The deal marks the strategic entrance of GMS into the Iowa marketplace.

"We are excited about the expansion into Iowa," said Jerry Speights, vice president of the Central Division of GMS. "The combined strength of the Tamarack and Serrano brands will come together in Iowa City, presenting an exciting opportunity to service our customers."

"We are pleased to bring Serrano Drywall Supply into the GMS family," said Mike Callahan, president of GMS. "Their commitment to delivering exceptional quality of service, personnel, products and safety fits with the GMS culture. This partnership provides GMS the opportunity to expand our service footprint in the state of Iowa."

Kuwait: Kuwait Gypsum Manufacturing and Trading Co has posted a net profit of US$1.1m for 2014, recovering from a net loss of US$1114 in 2013. For the last quarter of 2014, Kuwait Gypsum registered a net profit of US$815,947, up from US$197,568 in the last quarter of 2013. Company assets rose to US$18.3m at the end of December 2014, compared to US$17.6m at the end of December 2013.

Australia: Boral has reported a first-half 2015 profit of US$81.1m, benefiting from a recent overhaul of its business, a pickup in Australian demand for home-building products and a deeper push into Asian markets. Boral had reported a net loss of US$20.2m in the same period of 2014, as earnings were weighed down by asset write-downs.

Boral returned to profit in the second half of the 2014 fiscal year that ended on 31 June 2014, as it reaped the benefits from the earlier restructuring that reduced the size of its workforce and resulted in the closure of some unprofitable operations. "The restructuring and streamlining of Boral's businesses that has been taking place is enabling it to be more responsive to market changes," said chief executive Mike Kane.

Boral said that activity in the Australian housing market, which accounts for about 28% of total revenue, continued to gain pace during the period. A nascent housing recovery is underway in Australia, fuelled by record-low interest rates and demand from investors in major cities like Sydney. It is helping Boral to recover from several tough years, despite uncertainty about the outlook for the economy as a decade-long mining-investment boom slows. While the number of Australian home-building permits slipped by 3.3% month-on-month in December 2014, according to the latest government data, it followed a 7.7% rise in November 2014 from October 2014 and an 11.9% rise in October 2014 from September 2014.

Boral said that appetite for its products in other markets was also rising. It highlighted stronger gypsum demand in Korea and Thailand in particular, although it said that demand in China, where the property market is cooling, was subdued. In the US, Boral said that it was now seeing the benefits from a housing-market rebound and its own moves to restructure the business. The company said that it expects earnings to be 'broadly break-even' in the full 2015 fiscal year after considerable losses in recent years.

India: The Centre of Mining has decided to put 31 minerals under the control of state governments by scaling down their status from major to minor as part of a mining policy change, according to Mines minister Narendra Singh Tomar. This allows states to decide the mining lease of the minerals, which account for about 60% of the total leased area in the country.

The decentralised minerals include gypsum, quartz, chalk and china clay. The change in policy will let states decide the rate of royalty, contribution to the district mineral foundation, procedure for grant of mineral concessions and rules. The Mines Ministry will allow states' public sector undertakings to explore minerals in areas under their jurisdiction.

"It is an important step in fulfilling the minimum government, maximum governance motto of our government," said Tomar. "This is being done to devolve more power to the states and expedite the process of mineral development in the country." States cannot lease out major minerals such as coal and iron ore without mandatory clearances from central ministries. High revenue earners, coal and iron ore, retain their positions as major minerals even after the policy shift.

The decision to broaden the list of minor minerals should drastically shorten the lease approval process because the state would be dealing with all the paperwork. Production should also increase. However, India could be treading on a minefield of environmental degradation if adequate protection measures are not taken.