Pacific Lime Secures A$10M for Infrastructure, Ships Quicklime to WA Gold Miners
Pacific Lime and Cement Limited has made significant strides in Papua New Guinea, rebranding and advancing key projects while initiating commercial quicklime shipments to Western Australia. The company’s robust cash position and community agreements set the stage for upcoming construction milestones.
- Rebranding to Pacific Lime and Cement reflects strategic focus on building materials
- First commercial quicklime shipment delivered to Western Australian gold miners
- A$10 million approved for early works including port expansion and infrastructure
- Community Development Agreement endorsed, pending final government approval
- Strong cash reserves of A$80.6 million support ongoing project development
Rebranding Signals Strategic Shift
Pacific Lime and Cement Limited, formerly Mayur Resources Limited, has officially rebranded to reflect its evolution into a vertically integrated building materials company. Anchored by the Central Lime Project in Papua New Guinea (PNG), this new identity underscores the company’s transition from diversified resource exploration to focused industrial project execution and operations.
The rebrand aligns with the company’s ambition to become a key supplier of lime and cement products across PNG and the broader Asia-Pacific region. With an experienced leadership team and advisory board drawn from global cement and lime producers, Pacific Lime and Cement is positioning itself for operational growth and market expansion.
Project Progress and Infrastructure Development
During the June quarter, the company advanced construction activities at the Central Lime Project, including completion of Phase 2 of a dedicated port facility near Port Moresby. This upgrade enables roll-on/roll-off vessel access and bulk cargo handling, critical for efficient logistics. Design work is underway for a multi-berth wharf capable of servicing larger Handymax vessels, further enhancing export capacity.
Site preparation has progressed with bulk earthworks at the kiln bench and completion of geotechnical investigations for two major bridges along the 27.6 km access road. Orders for long-lead items such as steel bridges, fuel storage, and a modular desalination plant have been placed, with key equipment deliveries expected in the coming months. These developments are de-risking the project ahead of the Final Investment Decision (FID).
Commercial Milestone, Quicklime Shipments to WA
Shortly after the quarter’s end, Pacific Lime and Cement achieved a significant commercial milestone by shipping its first batch of quicklime to gold miners in Western Australia. This shipment, sourced through an alliance partner and distributed via a new regional logistics hub, marks the company’s entry into the Australian market and supports the seeding of demand ahead of PNG production commencement.
Quicklime is essential in mineral processing, offering benefits such as lower operating costs, reduced downtime, and improved recovery rates. The company is leveraging advanced forecasting technologies to optimize supply planning and build strong customer relationships in this key market.
Community and Regulatory Engagement
Pacific Lime and Cement secured endorsement of its Community Development Agreement (CDA) for the Central Lime Project from PNG’s Department of Treasury, with final approval pending from the National Executive Council. The CDA outlines commitments to local infrastructure, healthcare, employment, and road upgrades, ensuring broad community benefits.
Ongoing community engagement includes vocational training partnerships and local employment initiatives, preparing stakeholders for project construction and operation phases. Similarly, the Orokolo Bay Industrial Sands Project has progressed early works with equipment mobilized and landowner agreements finalized for initial mining lease access.
Financial Position and Outlook
At quarter-end, Pacific Lime and Cement held A$80.6 million in cash, supporting continued development activities. The company spent A$8.8 million on exploration and infrastructure, primarily for the Central Lime Project. A convertible note facility of approximately A$15 million remains in place, providing additional financial flexibility.
Alongside its core projects, the company is advancing renewable energy initiatives, including forestry carbon credits through the Kamula Doso Forest Conservation Project and geothermal exploration licensing. These efforts align with its broader strategy to support PNG’s decarbonisation and sustainable development goals.
Bottom Line?
With foundational infrastructure in place and early commercial sales underway, Pacific Lime and Cement is poised for critical regulatory approvals that will unlock full-scale project development.
Questions in the middle?
- When will the National Executive Council grant final approval for the Community Development Agreement?
- How will the legal challenges to forestry carbon permits impact the Kamula Doso project’s timeline and credibility?
- What are the implications of the convertible note facility on Pacific Lime’s future capital structure and shareholder dilution?