An artist’s impression of Mayur Resource’s Central Cement and Lime (CCL) project in Papua New Guinea. Source: Mayur Resources
Mayur Resources is in advanced talks with a large-scale international investor interested in acquiring a stake in its proposed Central Cement and Lime project west of Port Moresby.
According to the company's annual report, it followed a 20-year mining lease granted by the government in August.
The article said the project has been given special economic zone designation, indicating local government backing and obtaining a variety of benefits such as tax reduction and duty exemptions.
“This significantly strengthens the financial outcomes for the project, enabling it to compete with other similar businesses established in special economic zones elsewhere in Asia,” the report said.
“With a number of multi-billion-dollar resource and infrastructure projects in the pipeline in PNG, the demand for cement and quicklime is expected to increase dramatically.”
The project will be completed in two stages by the firm. Phase one is the quicklime plant, and phase two is the clinker and cement facilities, both of which will be constructed once the quicklime plant is completed, with development expenses covered by cash flow from the first phase.
“The procurement strategy for the project has continued with the engineering, procurement and construction scope to include a minimum of two quicklime kilns to take advantage of economies of scale and shared infrastructure.
Mayur stated the planned project was a vertically integrated production plant with the capacity to satisfy 100% of PNG's cement, clinker, and quicklime needs, with exports to the Australasian area, substituting Asian imports.
The project's co-located quarry, plant site, and deep-draft wharf, located on the coast 25 kilometres north of Port Moresby and seven kilometres from Exxon's PNG LNG facility, would enable very low operating costs while providing direct access to both seaborne domestic and export markets such as Australia and other South Pacific nations.
Reference: Pacific Ming Watch (2 November 2021). “MAYUR Resources in Talks with Investor for PNG Cement Project”.
