Mayur Resources has executed a formal investment agreement with Vision Blue Resources for a $40 million investment in Mayur’s Central Lime Project (CLP).
Vision Blue Resources is acquiring a 49 percent equity share in the project, located in Papua New Guinea. The CLP is phase 1 of a vertically integrated manufacturing facility with the ability to meet 100 percent of PNG’s raw lime, lime, hydrated lime and other building material requirements, creating a new manufacturing industry and displacing imports into PNG, with the ability to penetrate nearby export markets in Australia and APAC.
Lime is a critical input in the processing of battery metals and plays a significant role in decarbonization, in addition to its industrial uses including construction, steelmaking and pollution abatement, according to Mayur Resources. Demand for lime is expected to rapidly increase, particularly in Southeast Asia, driven by a ramp-up in nickel and other non-ferrous metals processing