Mayur Resources talks satisfactory

International Trade and Investment Minister Richard Maru is satisfied following talks with Australian cement and lime developer, Mayur Resources. 

Minister Maru said the meeting allowed him to clarify issues between Mayur Resources and the State Negotiating Team. 

Mr Maru further stated the Government wants the project to cater for equity participation by the State, the Central Provincial Government, the landowners, super funds, and ordinary Papua New Guineans to invest in this project. 

The International Trade and Investment Minister said this project is vital as it will stop PNG from importing cement and limestone. 

Thus seeing a drop in cement prices and also see PNG becoming an exporter of limestone and cement to other countries. 

Minister Maru considers the project to be a pioneer industry and offer protection to the project for a period of up to 10 years if the cement processing plant is built next year. 

Maru said the next step is to finalize a Term Sheet before January 2025 followed by the signing of a Project Agreement between the State, Mayur Resources, Central Provincial Government.