Final meetings to progress Mayur Resources’ community development agreement (CDA) for the Central Lime Project (CLP) have concluded.
All stakeholders have agreed to the final terms of the CDA which will now be put to the PNG National Executive Council for final approval.
CDA finalisation was one of the final conditions Mayur needed to satisfy to achieve final investment decision (FID) on the CLP. Once final approval is obtained, full-scale project development can start in early 2025.
“We are thankful to all stakeholders present at the Consultative Forum representing various levels of the PNG Government, landowners, and other key stakeholders,” Mayur managing director Paul Mulder said.
“This is a pivotal moment for Papua New Guinea – being the first new greenfield mine to commence construction in PNG in 18 years, and a cornerstone for the first downstream manufacturing production facility of quicklime and clinker/cement.”
The CDA set out the distribution of royalties to be paid by Mayur as well as the various community development activities the company will complete and the undertakings of the PNG Government and landowners to ensure development and operation of the CLP.
Mayur said it is committed to delivering local employment opportunities, ongoing support for community initiatives, and the development of key community infrastructure like new road access from the Kido village to Port Moresby.
“We are well placed on the path to achieving FID with a view towards full scale development (beyond wharf construction which is already underway) commencing within months,” Mulder said.
“Seeing this project into full scale development reflects a culmination of over 10 years of work by Mayur. It is a pivotal moment for Mayur’s shareholders as well as the local landowner communities and the nation of Papua New Guinea.”
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