TOP NEWS
MINExpo 2024 Breaks All Records
MINExpo 2024, held Sept. 24-26 in Las Vegas, hosted 45,000 attendees and more than 2,000 exhibitors from 148 countries who came to see more than 850,000 sq. ft. of exhibits, breaking all prior show records. MINExpo is the world’s largest mining show and is produced by the National Mining Association (NMA).
CDE, Granite Unveil Major Wash Plant in Utah
CDE has commissioned a wash plant for Granite at the company’s Coyote Pit in Grantsville, Utah. On Oct. 23, CDE and Granite officially presented the innovative 550+ tph sand and aggregate wash plant to the industry, along with CDE’s preferred partner Goodfellow Corp., as part of an exclusive open house preview event.
Vulcan Acquires Wake Stone
Vulcan Materials Co. announced that it has entered into a definitive agreement to acquire Wake Stone Corp., a leading pure-play aggregates supplier in the Carolinas. The transaction is expected to close later this year, subject to satisfaction of customary closing conditions.
ECONOMIC INDICATORS
The AVP Pulse Index this month dropped 0.4% month-over-month, while increasing 3.5% year-over-year; and 14% over the past 36 months. The proprietary AVP Pulse Index – a joint effort between mergers and acquisition advisors Allen-Villere Partners and Rock Products – illustrates the health of the industry in one single trend line, using relevant data that is updated monthly or quarterly.
According to the U.S. Census Bureau, construction spending during August 2024 was estimated at a seasonally adjusted annual rate of $2,131.9 billion, 0.1% (±1.2%) below the revised July estimate of $2,133.9 billion.
Ed Sullivan, the chief economist and senior vice president of market intelligence for the Portland Cement Association (PCA) said the Federal Reserve’s recent move to lower interest rates coupled with easing inflation signals a significant retreat in interest rate levels by the end of next year … all to the benefit of construction activity.
USGS STATS
The U.S. Geological Survey reported that an estimated 404 Mt of crushed stone was produced and shipped for consumption in the United States in the second quarter of 2024, a decrease of 5% compared with that in the second quarter of 2023. Production for consumption in the first six months of 2024 decreased by 5% compared with that in the same period of 2023. The five leading states in descending order of production for consumption were Texas, Florida, Pennsylvania, Missouri and Ohio.
MSHA WATCH
The U.S. Department of Labor announced that its Mine Safety and Health Administration completed impact inspections at 14 mines in 10 states in August, issuing 253 violations. The agency began conducting impact inspections after an April 2010 explosion in West Virginia at the Upper Big Branch Mine killed 29 miners. Inspections took place at plants operated by Minnesota Mining & Manufacturing (3M), Pete Lien & Sons, Northern Aggregate, Summit Materials, CRH PLC and Independent Limestone Co., among others.
ENERGY
Brent Spot Prices
10/11/2024: $80.27/barrel, up $0.95/barrel from week earlier; down $14.06/barrel from year earlier.
Natural Gas Inventories
10/15/2024: 2.37 million Btu, down 0.134 Btu from week earlier; down 0.563 Btu from year earlier.
Retail Diesel
10/14/2024: $3.631/gal.; up $0.047 from week earlier; down $0.813/gal. from year earlier.
Electricity
7/20/2024: Average price to industrial customers 8.81 cents/kilowatt hour; up from 8.32 cents/kilowatt hour from year earlier.
Source: U.S. Energy Information Administration
WOMEN IN AGGREGATES
Women in Aggregates is a new group dedicated to supporting women working in the aggregates industry. The Mission Statement of the group is: “To create a supportive space for women that fosters leadership growth, networking opportunities and advocacy of the aggregate industry.” Membership in Women in Aggregates is open to any woman working in, or working in support of, the aggregates industry, including producers, manufacturers and distributors; and marketing, advertising or public relations professionals. Interested parties can go to www.womeninaggregates.com to join the mailing list and to stay apprised of future developments, meetings, events and other communications from the group. There is also a LinkedIn discussion page, at www.linkedin.com/groups/12717856/.