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Cement, Lime mining lease application lodged


Mayur Resources announced the submission of a Mining Lease application with the Mineral Resources Authority (MRA) for the Central Cement and Lime project, last week.


The application includes a suite of supporting documentation including the definitive feasibility study completed earlier this year and landownership studies and will now be assessed by the MRA and relevant government departments.


The next steps involve conducting a Development Forum with the various project stakeholders, including the national government, Central provincial government and the landowner community representatives.


It stated the benefits sharing arrangements for the project will then be formalised via a memorandum of agreement, together with a decision from the PNG government on whether it will exercise its option to take an equity stake in the project.


Mayur stated that a compensation agreement will be negotiated and finalised with the identified landowners in parallel with the process.


The receipt of a mining lease represents the final major government approval required before the project can commence construction.


Managing director for Mayur, Paul Mulder said: “The submission of the ML application maintains the momentum of our delivery program in bringing our nation building Cement and Lime Project into reality.


“Following the completion of the definitive feasibility study earlier this year we have been working closely with the local community, the government, and the MRA to ensure our ML application is as robust as possible to enable a thorough and expedient assessment.


“We look forward to moving through the approval process and ultimately securing an ML for the project.”


He said the submission also provides Mayur with further confidence in moving forward on other aspects of the project including project financing, procurement, and product offtake agreements.


Source: https://postcourier.com.pg/cement-lime-mining-lease-application-lodged/

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