Mayur raises $130m for PNG lime project
Australia-listed Mayur Resources has raised $130-million to advance its Central Lime Project (CLP), with lime deemed a critical input in the processing of nonferrous battery and future green-facing metals, including nickel, cobalt, lithium and copper.
The company on Wednesday announced a term sheet with UK-based Appian Capital Advisory for up to $90-million in debt to fund the CLP through to its expansion case and a further A$10-million financing at the Mayur parent level.
These agreements complement the earlier announced investment agreement with Vision Blue Resources, led by Sir Mick Davis, for a $40-million investment in the CLP.
Combined, the vertically integrated project is now fully funded. Construction of the wharf infrastructure started earlier this year, which will allow for early cash flow generation next year through the sale of high-grade limestone.
The ‘base case’ of the CLP in Phase 1 is expected to generate yearly revenues and earnings before interest, taxes, depreciation and amortisation of more than $50-million and $25-million, respectively, over an initial project life of 30 years.
Further, the CLP will create hundreds of jobs while having capacity to replace all Papua New Guinea’s current imports of lime valued at about K$100-million (A$42.8-million) a year, and service the broader Asia Pacific region.
Over time, the CLP will form the core of the country’s first downstream processing resource manufacturing hub.
Comments
Research Reports
Projects
Latest News
Showroom
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
