New Zealand gives Golden Bay Cement $60M for low-carbon cement production until 2040

The New Zealand government has granted Golden Bay Cement up to $60 million to keep its Northland cement plant running until at least 2040. In return, the Fletcher Building subsidiary will invest a minimum of $150 million into operations, optimisation, and decarbonisation initiatives over that period. The plant supplies nearly 60% of the cement used in New Zealand and is the country's only domestic cement manufacturer. The agreement addresses a carbon cost disadvantage that made imported cement cheaper. An independent assessment found that without support, the plant could have shifted to an import-only model by 2030. Golden Bay says its onshore production already has a lower carbon footprint than imported alternatives due to investments in modernisation and alternative fuels. The deal aims to reduce exposure to shipping disruptions and price volatility while keeping domestic production viable.