Pacific Lime and Cement Limited has taken a decisive step forward with the Final Investment Decision for its Central Lime Project in Papua New Guinea, initiating full-scale construction and early sales. The company also advances renewable energy plans and strategic rebranding to solidify its regional presence.
- Final Investment Decision (FID) achieved for Central Lime Project enabling equity-only funded construction
- Significant construction progress including earthworks, equipment mobilization, and port infrastructure design
- First commercial quicklime sales via new logistics hub in Western Australia to gold mining customers
- Renewable energy feasibility studies underway for solar and battery storage to support operations
- Company rebrands to Pacific Lime and Cement to reflect integrated supply strategy and market focus
Central Lime Project, From Planning to Execution
Pacific Lime and Cement Limited (ASX, PLA) marked a pivotal moment in its development journey with the Final Investment Decision (FID) for the Central Lime Project (CLP) in Papua New Guinea. Announced in early August 2025, this milestone signals the transition from planning to full-scale construction, backed by significant capital cost reductions that allow the project’s first stage to be funded entirely through equity. The CLP aims to become PNG’s first vertically integrated quicklime manufacturing facility, targeting an initial production capacity of approximately 400,000 tonnes per annum.
Construction activities accelerated during the quarter, with bulk earthworks progressing at the kiln site and major site leveling completed. The company ordered two prefabricated 60-tonne steel bridges to support the 27.6-kilometre access road, ensuring year-round connectivity between Port Moresby and the project site. A fleet of heavy machinery including excavators, trucks, and graders arrived on site, facilitating rapid mobilization and infrastructure development.
Infrastructure and Market Development
Alongside the plant construction, Pacific Lime and Cement advanced the design of a multi-berth international wharf at the dedicated port facility, following the completion of barge ramps in the previous quarter. This wharf will accommodate Handymax bulk carriers, enabling direct export of quicklime and import of critical materials once operational.
On the commercial front, the company established a logistics hub in Western Australia, successfully delivering its first quicklime shipments to gold mining operations. These early sales, sourced through an Asian alliance partner, serve to validate the supply chain and build market presence ahead of the company’s own production start-up, anticipated in early 2027. Discussions with PNG government agencies and regional industrial customers underscore the strategic importance of substituting imported lime with locally produced materials.
Renewable Energy and Strategic Rebranding
In line with its commitment to sustainability, Pacific Lime and Cement’s renewable energy arm, Mayur Renewables, progressed feasibility studies for a solar photovoltaic and battery energy storage system. This initiative aims to provide clean, reliable power to the Central Lime Project and surrounding communities, enhancing energy security and reducing emissions within the Special Economic Zone.
The company also completed a rebranding effort, changing its name from Mayur Resources Limited to Pacific Lime and Cement Limited. This new identity reflects its evolution from a resource developer to a vertically integrated supplier of building and industrial materials, supporting its marketing and customer engagement strategies across PNG and the Asia-Pacific region.
Portfolio and Financial Position
While the Central Lime and Cement Projects remain the company’s core focus, Pacific Lime and Cement continues to monitor progress on the Orokolo Bay Industrial Sands Project, a non-core asset with potential for critical minerals such as vanadium, titanium, and zircon. The company also holds a significant 16.6% stake in Adyton Resources Corporation, which is advancing exploration activities in PNG.
Financially, the company reported cash holdings of A$70.6 million at quarter-end, with nearly A$10 million invested in exploration and development activities during the period. The absence of new equity raises or borrowings highlights the strength of the company’s balance sheet as it embarks on the construction phase.
Bottom Line?
As Pacific Lime and Cement moves into construction and early sales, investors will watch closely for execution milestones and market traction in a region hungry for local industrial materials.
Questions in the middle?
- How will Pacific Lime and Cement manage construction risks and cost control to meet its early 2027 production target?
- What is the potential scale and timeline for renewable energy integration to support the Central Lime Project’s operations?
- How might the company’s non-core assets and stake in Adyton Resources influence its strategic direction and valuation?