Firm completes quicklime test


Mayur Resources Limited has completed independent test work verifying the production of premium quality quicklime at the Central Cement and Lime (CCL) project.
Managing director Paul Mulder said Mayur’s ability to produce high grade, low impurity quicklime supported the project’s market appeal.
“The Central Cement and Lime Project not only has the potential to meet 100 per cent of PNG’s quicklime requirements but also provides direct access to Australian and other South Pacific export markets for use in various applications and sectors including the key end user markets of gold, nickel and alumina processing,” Mulder said.
Three months ago, the Government awarded Mayur a 20-year mining lease for the project.
The company said in its annual report that it was in the process of raising US$350 million (K1.23 billion) in project finance for its vertically-integrated project.
The report said structural shifts in Australia’s lime industry provide a significant export market opportunity for the venture.
The grant was understood to be the final statutory approval required to allow construction to begin on the facility.
Mayur chairman Rob Neale described the granting of the mining lease as one of the most important milestones achieved by the company since its listing in 2017.
The ASX listed firm has a diversified portfolio in PNG, covering not only the CCL project but prospective mining projects for industrial sands, vanadium, titanium, iron and coal, as well as energy.
The Orokolo Bay Industrial Sands Project in Gulf will produce a number of products including titano-magnetite, DMS magnetite, construction sands and a zircon-rich valuable heavy mineral concentrate.
Mayur also holds a prospective coal tenement portfolio in Gulf with a focus on the Depot Creek Project.