ANDREU ESTEBÃO (@ESTEBOANDREU)

Jul 21 Govt grants Golden Bay Cement up to $60m to keep Northland plant running. The Government has granted Golden Bay Cement up to $60 million to keep New Zealand's only domestic cement manufacturer operating in Northland, in return for a commitment to produce cement at the plant until at least 2040. The deal, announced on the NZX by Fletcher Building today, was intended to provide certainty for the continued operation of the Portland plant near Whangārei, which supplies nearly 60% of the country's cement. Economic Growth Minister Nicola Willis said ministers had been advised that rising costs had led Fletcher Building to consider closing the clinker facility in favour of a cheaper import-only model, and that Cabinet had weighed the case for time-limited support in May. "Ultimately the Government determined that losing domestic cement production would leave us massively exposed to potential global supply disruptions," Willis said, noting cement had no practical substitutes and was needed to build homes, hospitals, schools, roads and other infrastructure. Under the terms of the deal, Golden Bay Cement must maintain domestic cement manufacturing until at least December 31 2040, commit at least $150 million of its own investment, maintain jobs, and submit to additional reporting and auditing, with the Government able to claw back funds if obligations are not met. The company took part in an independent open-book financial assessment which Willis said confirmed binding constraints on the viability of domestic cement production, primarily due to emissions costs. https://www.1news.co.nz/2026/07/20/govt-grants-golden-bay-cement-up-to-60m-to-keep-northland-plant-running/ #NZ #nzpol #FletcherGroup https://www.minds.com/newsfeed/1926005812619120640