Former Head of Graymont & Sibelco John McBride appointed CEO of Central Lime Project

Mayur Resources Limited is pleased to formally announce the appointment of Mr John McBride as CEO of Mayur’s Central Lime Project. The appointment of Mr McBride follows the recent agreement with Sir Mick Davis’ Vison Blue Resources to invest US$40m in the Central Lime Project for a 49% equity stake.

Mr McBride has extensive experience in global materials companies with his background spanning technical, operational and commercial responsibilities. Mr McBride was the CEO of Sibelco’s Lime Division and most recently was President of APAC at Graymont, a global leader in lime and lime solutions.

During his time with Graymont and Sibelco Lime, Mr McBride:

• Delivered Graymont's organisational vision to become a global player by spearheading entry into the broader Asia Pacific region and accelerated business growth by reconfiguring manufacturing networks and supply chains through a ten-year strategic plan; 
• Established additional revenue and market growth in Sibelco’s Lime supply chain networks through innovative initiatives and the commissioning of greenfield startups in Indonesia and the Philippines; 
• Established Graymont’s global procurement function through the development of categorical and transactional teams, influencing the global organisation and stakeholders on cost control measures; and 
• Partnered with the global leadership to evaluate decarbonisation strategies and initiated the switch to renewable energy asset investments.

"We are excited to have attracted talent of the calibre of John to lead our Central Lime Project. John’s industry, developmental and operational skills are world class, and he will be a major contributor to the successful development and commencement of commercial operations at our Central Lime Project.”

 

“Establishing a world class board and execution team is vital in ensuring the ‘base case’ of the first 2 kilns of Quicklime production capacity is achieved (400,000 tonne per annum). The true value of this import displacement and export-oriented manufacturing facility will be realised, however, by more fully utilising the 197 million tonne high grade limestone JORC resource on the Kido peninsula* where the 2 kiln base case only estimates utilising less than 15% of such JORC resource inventory. There remains large scale upside potential of producing circa 4 times the productive output of the 2 kiln base case, being 1.6 million tonnes of Quicklime per annum (8 kilns), with exceptionally low estimated incremental expansion capital costs. Economics are expected to materially improve on the US$25m per annum EBITDA reported for the initial 2 kilns of productive output (where the capital costs of US$100m for this 2 kiln operation also includes the establishment of Wharf, Roads, Bridges, Power, Water, Quarry, Camp, Workshops, etc)**. Expansions beyond the 2 kiln base case will not incur such deep greenfield capital establishment costs and EBITDA margins are expected to materially improve for each additional kiln added.

 

We have therefore ensured that John has been incentivised to achieve such a bold expansion goal. With an expected ongoing regional supply deficit, the realisation of this expanded outcome would be a significant benefit to the local Landowners, PNG stakeholders, Mayur Shareholders, its Partners and put PNG on the map as a major Quicklime producer in the APAC region.”

“The Central Lime Project provides the unique opportunity to support the global energy transition to renewables and contribute to nation-building at world-class ESG and sustainability standards. The fundamentals of the project are compelling, both in the quality of resources, technology and location to established and emerging markets. The financial benefits and business cases are unparalleled. I am excited to join Mayur Resources and partner with the Board, our equity partner Vision Blue Resources and broader stakeholders to deliver the initial phase of 400ktpa of Lime production and future expansions.”