Pacific Lime and Cement Limited (ASX: PLA) has reported strong progress in the September 2025 quarter, marked by the Final Investment Decision (FID) for its Central Lime Project (CLP) and significant expansion of construction and development activities.
The FID, announced in early August, confirms the start of full-scale construction at PNG’s first vertically integrated quicklime facility. The project aims to produce around 400,000 tonnes of quicklime per year and is fully funded through equity, with commercial operations expected to begin by early 2027.
“FID reflects our confidence in the project’s strong economics and strategic importance, following nearly a decade of planning,” the company said.
Construction Accelerates
Work at the CLP site has progressed steadily. Bulk earthworks are well underway, with major grading and site preparation completed for the kiln and processing plant. Two 60-tonne steel bridges for the 27.6-kilometre access road linking Port Moresby to the site have been ordered and are expected to arrive in the fourth quarter of 2025.
A large fleet of construction machinery, including excavators, dump trucks, graders, and generators, has arrived on site. These machines are now being used for quarry development, civil works, and road construction. The development team has also expanded, with a 50-person project office established in Port Moresby to manage logistics, engineering, procurement, and administration.
Meanwhile, the dedicated port facility has reached a milestone with the completion of Stage Three design. This will enable construction of a multi-berth international wharf capable of handling Handymax bulk carriers of up to 50,000 DWT. Earlier phases, including roll-on/roll-off barge ramps, are already operational, allowing for the movement of materials to and from the site. Once operational, the port will handle quicklime exports and the import of fuel and other bulk items.
The company has also made significant progress on long-lead equipment for the processing plant. Lime kilns, crushers, and material handling systems are in the final stages of procurement, while fuel storage tanks, a modular desalination plant, and power generators have already been ordered. Remaining equipment will be purchased over the coming months in line with the project schedule.
Market Development and Initial Deliveries
Pacific Lime and Cement has begun making small-scale quicklime deliveries from its newly established Western Australia logistics hub. Products are being supplied to gold miners and other industrial customers in WA, building a market presence ahead of the company’s own production.
In PNG, PLC is engaging with mining companies, industrial firms, and government agencies that currently rely on imported lime. Several letters of intent for future supply have been signed, underpinning a significant portion of Stage 1 production. The company is also exploring opportunities in regional markets across Australia and Southeast Asia.
Orokolo Bay Industrial Sands Project
While the company’s focus remains on the Central Lime and Central Cement Projects, the Orokolo Bay Industrial Sands Project (OBP) continues as a non-core initiative. The OBP is targeting production of up to 500,000 tonnes per year of high-grade magnetite from 2026, with potential to expand into critical minerals such as vanadium, titanium, and zircon.
Pacific Lime and Cement has partnered with Pacific Unison Holdings to support early-stage construction and development at OBP. While progress has been slower than initially planned, the company continues to monitor developments closely and maintain its oversight. The OBP’s broader mineral sands portfolio presents opportunities for downstream processing and partnerships in the future, complementing the company’s flagship lime and cement projects.
Renewable Energy Initiatives
Sustainability remains a key focus for PLC. Mayur Renewables, a subsidiary, advanced early-stage feasibility studies for a solar photovoltaic (PV) and battery energy storage system (BESS) designed to power the Central Lime Project and surrounding facilities. The system will provide off-grid electricity, enhance reliability, reduce emissions, and support the wider Special Economic Zone vision for sustainable industrial development.
The studies have focused on energy requirements, preliminary sizing, and conceptual design for internal distribution. The project is expected to allow surplus energy sharing across SEZ facilities, although initial phases do not include connection to the national grid.
Corporate Updates
In July 2025, the company rebranded from Mayur Resources Limited to Pacific Lime and Cement Limited to reflect its transition from a resource developer to an integrated supplier of building and industrial materials. The rebrand will support marketing efforts and strengthen customer relationships across PNG and the Asia-Pacific region.
PLC also holds a 16.6% interest in Adyton Resources Corporation (TSXV: ADY), which continues exploration and drilling activities on Fergusson and Feni Islands. At Feni, drilling has focused on expanding a 1.46-million-ounce gold resource and exploring previously untested high-potential copper-gold zones. Adyton’s projects are fully funded through a joint venture arrangement with EVIH.
Financial Position
As of 30 September 2025, PLC held cash reserves of A$70.578 million. During the quarter, the company spent A$9.925 million on exploration and development, primarily supporting construction and infrastructure works for the Central Lime Project. A further A$0.371 million was paid to directors as remuneration.
The company was also included in the All-Ordinaries Index of the Australian Securities Exchange in September 2025, following the S&P Dow Jones quarterly rebalance. This reflects PLC’s standing as one of the few remaining building materials companies listed on the ASX.
Looking Ahead
Pacific Lime and Cement remains focused on delivering the Central Lime Project on time and on budget while expanding its market presence in PNG and the wider Asia-Pacific region. With construction progressing, first deliveries of quicklime underway, and renewable energy initiatives advancing, PLC is well positioned to become a sustainable, vertically integrated producer of lime and cement, supporting infrastructure and industrial development in the region.
