Mayur Resources i54 Winter 24

EXECUTIVE INSIGHT LEADING THE PROFESSIONAL CHARGE

WINTER 2024

ISSUE 54

Solid Foundations for

NATION BUILDING Mayur Resources is developing a portfolio of projects that will primarily enhance the lives of the local communities in Papua New Guinea.

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Solid Foundations for

NATION BUILDING Mayur Resources is developing a portfolio of projects that will not only support the global energy transition but will primarily enhance the lives of the local communities in Papua New Guinea.

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ayur Resources, established in 2011, is set to deliver the building blocks for Papua New Guinea’s development through progressing its lime and cement, iron and industrial sands, and renewable energy projects.

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www.youtube.com/watch?v=uU4GkpRypLQ

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SERACS Ltd SERACS Ltd, a nationally owned and locally established consultancy company in Papua New Guinea, proudly celebrates its 14th year of dedicated service in 2023. Since its inception in 2009, SERACS has been at the forefront of providing specialized expertise in Applied Anthropology, Environmental Science, Project Management, Agroforestry, Chemistry, and Social Research.

Primarily focused on consultancy services, SERACS plays a crucial role as a technical support entity within the mining, gas, and oil sectors across Papua New Guinea. The company has established close collaborations with globally renowned mining and oil giants operating in the region, including Exon Mobil, Oil Search, Total Energies Ltd, Rio Tinto, and Mayur Resource Ltd. Since 2021, SERACS has been actively engaged in providing technical support and community affairs work for Mayur Resource Ltd on the Central Cement and Limestone Project. The scope of support encompasses a wide range of activities, such as land study review, land mapping and demarcation, environmental monitoring, community affairs work, and the facilitation of compensation payments and relocation plans for affected gardens.

As SERACS Ltd continues to evolve and contribute to the sustainable development of Papua New Guinea, its commitment to excellence and its multidisciplinary approach position it as a trusted partner in the field of consultancy services, especially within the mining, gas, and oil sectors.

We are a leading provider of Social, Environmental, and Research Consultancy Services, committed to creating positive change that benefits inclusive clients while mitigating negative impacts on the environment and the communities.

www.seracsltd.com

Consultancy Services

Social Mapping and Landowner Identification (SMLI) Studies Environmental Impact Assessment Social Licence, Environment and Social Safeguards Social Impact Assessment (SIA) Studies Social Feasibility Studies Water Quality Sampling Development Forum Facilitation and Negotiation Exploration Support - Community Liaison and Consultation Incorporated Land Groups (ILG) Capacity Building and GIS Training ILG and Land Lease Agreements

WE WALK OUR TALK AND LEAVE NOTHING BUT A LEGACY Office #: (+675) 323 0404 Mobile #: (+675) 7682 8748 / 7223 6407 Whatsapp #: (+675) 71571400 Primary email: seracsltd169822@gmail.com Alternative email: rkameata@yahoo.com

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Office Suite F12, 1st Floor, Copy Tek Ples Section 52, Allotment 35/36, Kennedy Road, Gordons P.O Box 744, BOROKO, NCD 111 Papua New Guinea

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“Mayur Resources is an industrial building materials business focused on developing bulk commodities that the country doesn’t have, such as lime and cement, fundamental raw materials in many industrial value chains; 100% of these is currently imported from Japan and China. We are also looking at industrial sands, and seeking to harness a range of energy and power generation opportunities that will improve access to electricity for both industry and domestic use in PNG,” says Managing Director Paul Mulder in summarising the core business.

Mulder is a founding shareholder of Mayur Resources and has been Managing Director since 2014, bringing 30 years of industry experience to the business. He previously worked for Gina Rinehart’s Hancock Prospecting Pty Ltd, leading its coal and infrastructure projects, and prior to that he spent many years with BHP Billiton in various senior management roles across BHP’s steel, coal and iron ore divisions.

“We clearly saw a great opportunity in Papua New Guinea. The company’s objective is to displace imports, but at the same time, being 5

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Phimak Investment Limited (PIL) Phimak Investment Limited (PIL) are a distinguished Consulting Structural and Civil Engineering firm under the leadership of Philip Makarai, an experienced Civil Engineer with a remarkable 27-year career. PIL, based in Papua New Guinea, collaborates closely with Napitalai Engineers, a highly regarded regional engineering company.

Specializing in the management of Civil and Structural Engineering Designs, PIL were delighted to recently play a crucial role in the development of Papua New Guinea’s inaugural Limestone Mine in partnership with Mayur Resources, focusing on the meticulous Civil and Structural Design of the 300m Causeway extending into the sea. In collaboration with a joint venture engineering team, the original design was scrutinized and enhanced, ultimately receiving approval for construction.

Building upon this success, Mayur Resources entrusted additional phases of the causeway project to PIL. This included the design of a 92m by 24m wharf, extending further into the sea, along with ship tie-down dolphins positioned another 40m offshore from the wharf. PIL is honoured to contribute to such a significant project and extends our best wishes for Mayur Resources’ success in this venture.

Beyond its involvement in this groundbreaking initiative, Phimak Engineers, in collaboration with Napitalai Engineers and other associates, undertakes diverse Civil and Structural Engineering Projects. Our portfolio encompasses a wide spectrum, from various types of buildings, bridges, and retaining walls to stormwater drainage systems, domestic roads, national highways, wharves, and marine structures.

Consider Phimak Investment Limited for your engineering needs. We anticipate the opportunity to contribute our expertise to your projects.

Please contact Philip at phimakengineers@gmail.com or call +00 (675) 7243 6478 / (676) 77944222 for any questions or enquiries.

PHIMAK DO WELL

STRUCTURAL & CIVIL, CONSULTING DESIGN ENGINEERS PROJECT MANAGERS, CONSTRUCTION A PNG INSURED COMPANY ALL DESIGN WORKS COVERED BY PROFESSIONAL INDEMNITY INSURANCE COVER ALL CONSTRUCTION WORKS COVERED BY CONTRACTORS ALL RISK COVER

…. in the quest for a better world.

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PO Box 1762 Port Moresby National Capital District Mobile: 7243 6478 phimakengineers@gmail.com

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located on the coast also presents an opportunity to establish an export-based business.”

The flagship project Mayur’s key fully approved and permitted projects include its flagship Central Cement and Lime Project (CCL) and the Orokolo Bay Iron and Industrial

Sands Project, both of which have received all the relevant regulatory approvals. Construction has commenced at the CCL Project and is planned to commence at Orokolo Bay, with both projects being designed to deliver low-carbon or net-zero products.

Mayur’s CCL Project is a vertically integrat-

ed manufacturing facility that has the potential to meet 100% of PNG’s cement, clinker and quicklime requirements. The project is also intended to become the Asia-Pacific region’s first carbon-neutral production facility.

Located on the coast, 25km north of the

national capital, Port Moresby, and 7km from Exxon’s PNG LNG facility, the project’s co-located quarry, plant site and deep draft wharf will enable very low operating costs while providing direct access to seaborne markets, both domestic and export, such as Australia and other South Pacific nations.

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Once you start construction, people start to take notice

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Mulder explains that quicklime is critical for the processing of essential energy transition materials such as rare earths, copper, nickel, aluminium, uranium, cobalt, and lithium. Furthermore, it has applications in pollution abatement and agriculture and crop management.

The project’s proximity to customers reduces freight emissions, and investments in on-site carbon reduction initiatives, including natural gas, solar power, and the use of nature-based carbon credits, contribute to its low carbon profile.

In addition to its flagship project, the company is also pioneering the development of a highly prospective iron and industrial sands province along the southern coastline and delta regions of the Gulf of Papua, offering potential for multiple projects.

Unlocking the potential of Papua New Guinea Mulder reflects that the starting of construction of the lime facility has been one of the key milestones. “Once you start construction, people start to take notice. But our biggest achievement will be of a different sort – to look back in a few years and see how the lives of the communities right next to our operations changed for the better: with jobs, availability of power, water and a road connection to the city. When that is sustainable, that will be the

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“Of course, as a business, we have to make money, so when we are reliably delivering products to customers, when we will be getting repeat orders and opportunities to expand the business, then I will consider the business successful.”

financing in August last year after a British investment company Vision Blue Resources signed a term sheet to pay $40 million for a 49% equity stake in the project. This should cover the total equity required for the project.

He says that the company is committed to engaging with host communities throughout the lifecycle of its projects, as well as incorporating internationally recognised ESG standards into its strategy and business practices.

Mulder affirms that construction of the lime facility should be completed by the end of 2024. “To achieve this, we will engage local business as much as possible. We are trying to use the skills within the province but also within the district area where we operate, so there’s a direct connection to the skills that are created.”

Sustainability is at the core of the company’s activities.

Mayur’s strategy is to serve Papua New Guinea and the wider Asia Pacific region’s path to decarbonisation both by developing mineral projects and by constructing and operating a renewable energy portfolio of solar, wind, geothermal, carbon mitigation, and battery storage.

The ultimate benefit of Mayur’s activities will be reaped by the country and its population. “By unlocking the potential of PNG we aim to add value to the nation’s vast mineral and energy resources via downstream vertical integration opportunities. Our aim is to satisfy 100% of commercially procured PNG lime requirements and create a new large-scale exporting industry, pulling 1,500 local people out of poverty.”

Promoting further industrial expansion Mayur Resources secured the necessary equity

The company expects the lime project to generate over A$1.1 billion in revenues over the projected mine life of 30 years.

“This is a great opportunity to make a real difference for the country. We are not just another party trying to do something in Papua New Guinea. We are the only party that is developing an integrated lime and cement works, hoping for more industrial development.”

In concluding, he affirms that 2024 will be a real stepping stone for the business. “Ultimately, the development will bring great benefits to the local population, improving their and their future descendants’ livelihoods. So we are really excited about the projects, not just in terms of financial gains, but also in terms of their social impact.”

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