Mayur Resources is pleased to provide an update on Stage 2 wharf development at the Central Cement and Lime Project in Papua New Guinea.
Mayur Resources Managing Director Paul Mulder said the wharf development was a critical piece of work enabling marine infrastructure for both PNG, and the Company’s future plans.
“Dedicated wharf facilities are strategically important to Mayur’s CCL Project. The proximity of the wharf is less than one kilometre from Mayur’s manufacturing facilities and quarries. This compares incredibly favourably over some of our Southeast Asian competitor suppliers, who have trucking distances of some 100 kilometres to the wharf prior to barging to the FOB loading point that are significantly further away from customer markets in Australia and the Pacific, both of which, generate a significant cost advantage for Mayur
“Our wharf facilities create a unique, vertically integrated development with a highly efficient supply chain and direct access to Southeast Asian markets. We look forward to completing construction in Q4 CY2024 and generating earlystage revenue from the sale of limestone and aggregates,” Mr Mulder said.
Second Stage of Wharf Construction Commences
Mayur has placed key orders for construction materials i.e. sheet piling for Stage 2 construction of the wharf with PNG owned and operated Hi-Lift Global, a company with over 48 years of experience in PNG in logistics and facilitating the delivery of construction materials. This is a key milestone in the Company’s CCL project construction program, with the wharf development scheduled to be completed by Q4 CY2024.
Stage 2 of the wharf (Figure 2) will enable both roll-on/roll-off barge access and crane loaded double sided barge operations. First revenues from the sale of limestone and aggregates are expected once Stage 2 of the wharf completes later this year.
Stage 3 of the wharf development is planned for 2025. Once completed, the wharf will be capable of loading and unloading bulk materials on vessels up to Handymax size (40,000 to 55,000 tonnes).
Mayur will own the wharf, which is a strategic asset for the Company’s CCL project. It will provide the Company with ownership and control of its supply chain within PNG, while also providing access to both domestic and export markets. The Company will also continue engagement with other third party prospective Port Operators and Owners.
PNG establishes State Negotiation Team engagement to facilitate Central Lime and Cement Project
Mayur is pleased to report that the National Executive Council of Papua New Guinea’s Government has established a State Negotiation Team to finalise the terms of a Project Development Agreement (the PDA) between Mayur and the PNG Government. The PDA will set out the terms upon which the PNG Government will participate in the CCL Project, ensuring the interests of the state, provincial government, and landowners are adequately represented.
Finalising a PDA with the PNG Government is a critical final step towards Mayur commencing full scale construction of the Central Lime Project and the later expansion into Clinker and Cement.
Mayur expects to finalise the PDA within Q3 CY2024.
Ongoing Stakeholder Engagement & Community Benefits
Mayur is soon to commence construction of a new rugby and sports field for the local community in Kido. Design works are complete with construction to commence in parallel with Stage 2 development of the wharf.
The sports field is critical social infrastructure for the Kido community and early construction will allow for a transition from the existing field to a new location by the end of Q4 CY2024.
Infrastructure projects that will benefit the Kido community will commence upon Financial Investment Decision Conditions Precedent being achieved for the Central Lime Project financing. These include but not limited to the provision of water and electricity supply infrastructure and connecting road and bridge access to Port Moresby.
