Papua New Guinea: Pacific Lime and Cement (PLC) has secured a US$16.3m equity investment from the government for its flagship Central Lime project. The government has therefore acquired a 13% stake in the project through Kumul Mineral Holdings (KHML). The government also retains an option to acquire an additional 5% of Central Lime for about US$6.8m, exercisable within 180 days of the start of operations. Central Lime is targeting its first quicklime production in the first quarter of 2027. The company is set to become the country’s first integrated lime and cement manufacturing operation.
"The PNG government's decision to invest directly in the Central Lime project is a landmark milestone that further strengthens the sovereign and institutional foundations of what we are building,” said PLC managing director Paul Mulder. "This capital commitment reflects over a decade of collaboration between PLC, the Papua New Guinean (PNG) government and project-area landowners, and demonstrates the depth of alignment between the company and the state in delivering PNG's first integrated lime and cement manufacturing industry.”
KMHL managing director Sarimu Kanu said “This development enables PNG to reduce reliance on imported quicklime from distant markets such as the Middle East and Asia and instead source high-quality, cost-competitive product that is locally manufactured by Papua New Guineans.”
Central Lime represents the first stage, with Central Cement planned as a separate second-stage investment. KMHL has the right to acquire up to a 30% interest in Central Cement, ahead of a final investment decision targeted for the fourth quarter of 2026. Construction works at Central Lime will taper off as Central Cement activities ramp up in the first half of 2027.