Mayur Resources has 20-year mining lease approved

Mayur Resources' Central Cement & Lime Project (CCL) in Papua New Guinea (PNG) is a major step closer to development with the PNG Government announcing it has granted the project a 20-year mining lease.
 
This grant is the final statutory approval required to allow construction to begin on the vertically integrated manufacturing facility, which is 25km northwest of Port Moresby and has the potential to meet 100 per cent of PNG's cement, clinker and quicklime requirements, displacing Asian imports.
 
The project's co-located quarry, plant site and deep draft wharf will enable very low operating costs while  providing direct access to both seaborne domestic and export markets such as Australia and other South Pacific nations.
 
Mayur Chairman, Mr Rob Neale, described the mining lease grant as one of the most important milestones achieved by the company since listing in 2017.
 
"Our vision to build PNG’s first integrated cement and lime project has become a lot clearer with the passing of our last legislative requirement, the project is now effectively 'de-risked' and 'shovel-ready'," Mr Neale said.
 
Mayur Managing Director, Mr Paul Mulder, said the project was critical to PNG’s nation building agenda.
 
"With a number of multi-billion-dollar resource and infrastructure projects in the pipeline in PNG, we expect that the demand for cement, a key ingredient of concrete, will increase dramatically," Mr Mulder said.