Mayur seeking project partner

The National Business

MAYUR Resources Ltd will find a partner to develop its Central cement and lime project, the company announced.
The company will make a final investment decision this year, it said in its half-year report ended Dec 31.
The group will this year focus on:

  • BRINGING on board a strategic development partner for the project, and the commencement of construction of stage one of the project;
  • UNDERTAKING and completing the initial public offering of Ortus Resources Limited on the Australian Securities Exchange, the development of the Orokolo Bay Industrial Sands Project, and first commercial shipment of product;
  • THE portfolio of renewable energy opportunities in Papua New Guinea – with interests and aspirations in nature based forestry carbon credits, large scale solar, battery, and large scale geothermal; and
  • POSITIONING the future development pathway for the power generation and coal projects.

On Jan 12, Mayur, through its 100 per cent owned subsidiary Mayur Renewables PNG Limited was granted its first forest carbon concessions in Papua New Guinea (PNG).
“This demonstrated material progress on its commitment to achieve ‘net zero’ carbon emissions for its nation-building import displacement projects, and delivering on the objectives of its strategic review completed in October,” the Mayur report stated.
“The carbon credits from the forest concessions will provide Mayur with a tangible path to net zero for its projects by partnering with Papua New Guinea landowners and the Government, while also enabling participation in international carbon trading markets.”