Photo credit: Mayur Resources
Mayur Resources Ltd has declared that it will engage a partner to expand its Central cement and lime project.
According to the company's half-year report, which concluded December 31, it will make a final investment decision this year.
This year, the group will concentrate on:
- Bringing on board a strategic development partner for the project, as well as the start of stage one construction;
- Launching and finishing Ortus Resources Limited's initial public offering on the Australian Securities Exchange, as well as the development of the Orokolo Bay Industrial Sands Project and the first commercial shipment of product;
- Papua New Guinea's renewable energy portfolio, includes interests and ambitions in nature-based forestry carbon offsets, large-scale solar, batteries, and large-scale geothermal; and
- Positioning the power generating and coal projects on a future development path.
Mayur received its first forest carbon concessions in Papua New Guinea on January 12 through its 100 percent owned subsidiary Mayur Renewables PNG Limited (PNG).
“This demonstrated material progress on its commitment to achieve ‘net zero’ carbon emissions for its nation-building import displacement projects, and delivering on the objectives of its strategic review completed in October,” the Mayur report stated.
“The carbon credits from the forest concessions will provide Mayur with a tangible path to net zero for its projects by partnering with Papua New Guinea landowners and the Government, while also enabling participation in international carbon trading markets.”
Reference: The National (23 March 2022). “Mayur seeking project partner”.
