Lydford Mining— a major player in the limestone industry
LYDFORD Mining Limited has said that with global environmental standards becoming increasingly rigorous and the demand for limestone expanding, the company is positioning itself to take advantage of emerging opportunities.
Starting as a small mining company operating out of Lydford in St Ann, back in 1990s, the operation has grown to become a quiet powerhouse in the local industry, also penetrating several significant markets globally. Big on aggregate supply, it has also been making significant strides in some of these markets.
“We have recently been given contracts to supply construction aggregates to the US naval base at Guantanamo. There is a large market for industrial-grade limestone in South America to support the de-sulphurisation of flue gases,” Jackie Millington, the company’s director of finance, shared in responding to questions from the Jamaica Observer’s Sunday Finance last week.
The company, which has been steadily increasing its market share locally and internationally, will further strengthen its business in the US through the recent Us$1million shipment of processed limestone to the naval base. Shipments are to be carried out on weekly trips for the July to October period.
“Lydford currently produces ground calcium carbonate (GCC) for the domestic and Caricom markets. The company has done detailed design work to increase its production capability for GCC. We have also explored partnerships to establish facilities to manufacture nutraceuticals in Jamaica,” Millington told the Caribbean Business Report (CBR), noting the growing demand for products from her company, particularly in the construction and industrial-grade sectors.
VALUE ADDED OPPORTUNITIES
Lydford, which is currently focused on the export of limestone in three main areas, namely, food, chemical/industrial and construction grade aggregates, said that they would want to get into the other areas.
Commenting on the Jamaica Promotion’s Corporation’s (Jampro) promotion of a multi-billion US dollar industry for limestone products, now ripe for investment and export opportunities, Millington said that tapping into such ventures may be an expensive undertaking, especially for new suppliers.
“The value-added limestone market requires a long gestation period to gain access— new suppliers are typically out [for] a rigorous evaluation of their products that may take as long as five years. The large capital investment also serves as a barrier to entry,” she added.
She said that with the COVID-19 pandemic reducing some 60 per cent of the local market, the company’s main aim is to review its operations and improve its operating efficiency.
“Lydford Mining seeks to be the limestone supplier of choice in the markets in which it chooses to compete. We strive to streamline all processes to allow ourselves to compete more effectively in the multi-billion dollar market for construction-grade aggregates,” she further told the CBR.