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- Mayur Resources (MRL) completes a renewable energy study for the Special Economic Zone (SEZ) and the Central Cement and Lime (CCL) project in Papua New Guinea
- The study aimed to examine the potential for a large-scale renewable solar farm to power the CCL project which is located within the SEZ
- The study also confirmed a solar power capacity at the SEZ of at least 500 megawatts which would provide renewable energy to CCL, future potential industrial users and local communities without access to electricity
- This aligns with Mayur’s goal of becoming a key supplier of carbon neutral lime and cement products in PNG, Australia and the Pacific
- Company shares have ended the day trading steady at 19.5 cents
Mayur Resources (MRL) has completed a renewable energy study for the Special Economic Zone (SEZ) and the Central Cement and Lime (CCL) project in Papua New Guinea.
The study was completed by VECKTA to examine the opportunity for large-scale renewable solar farm/hybrid power, which is part of Mayur’s wider goal of becoming a key supplier of carbon neutral lime and cement products in PNG, Australia and the Pacific.
Mayur Resources aims to integrate renewables across its portfolio and establish Mayur Renewables as an entity to deploy a clean energy platform in the Pacific region.
The study showed that an installed solar power capacity of at least 500 megawatts could be achieved within the SEZ. The solar farm would provide renewable energy for the CCL project, which is located within the SEZ, as well as potentially supply future large scale industrial users and local communities without access to electricity.
Other opportunities include directly supplying renewable power to nearby existing industrial users and into the nearby Port Moresby transmission grid, if the demand is there.
Managing Director Paul Mulder commented on the importance of delivering carbon neutral cement and lime.
“As the first to deliver carbon neutral cement and lime through the innovative use of technology, renewables and internationally verified carbon offsets, our business will have a major advantage within the Australasian building products, mineral processing, water and waste treatment and pollution abatement markets,” he said.
“Importantly, this move to reduce our carbon footprint from day one aligns with the broader ESG commitments made by many of our downstream customers who are also seeking to reduce emissions across their respective supply chains.”
Mayur will now progress detailed design, engineering and solar layouts, as well as landowner collaborations to determine the maximum and optimal size of the system. How it will be staged over time will also be determined by demand from the CCL project and wider SEZ.
Company shares were trading steady at 19.5 cents at market close.
