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Mayur Resources Close to Developing PNG's First Iron and Industrial Sands Project

by PNG Business News - May 13, 2021

Mayur Resources Ltd is nearing completion on the country's first iron and industrial sands project in Orokolo Bay, Gulf, with the Mineral Resources Authority (MRA) reviewing its mining lease proposal.

Mayur Resource Ltd managing director Paul Mulder said the MRA had already received the company's K60 million project and evaluation proposal, which was submitted earlier this year.

He said it was not a big undertaking, but the advantages to the region would include direct and indirect job growth, as well as the fact that it was a sustainable mining operation inland from the coast.

Multiple mechanised sago operations will be introduced as a post-mining activity at the mining site, replicating facilities that the International Finance Corporation (IFC) and French energy company Total had already built further up the Purari River. 

“We are ensuring that prior to us beginning the mining, everyone must be clear on the direct and indirect benefits as well as sustainable ongoing benefits,” Mulder said.

“We can’t say when the MRA will have the project assessed.

“That is their internal processes.

“But if you compare projects such as Wafi-Golpu, this project is well over 100 times bigger than what we are proposing in capital construction cost and is more complex and much larger in scale.

“The initial benefits will last for 15 years with follow on sustainable mechanised sago plantations to continue well after this.

“We feel that this could be assessed in an expedient manner as it will benefit many parties and is not complex, involves no chemicals and can be commenced in a much shorter time frame.”

Mulder clarified that the project was not to be confused with beach sand mining since it was an ancient buried paleo-geological formation deposit inland, away from the coast, where standard mining methods can be used in accordance with the Mining Act.



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