- Mayur Resources’ (MRL) Central Cement and Lime project receives Special Economic Zone status from Papua New Guinea’s Special Economic Zones Authority Board
- The project will gain a number of fiscal benefits including income tax relief and import tariff exemptions
- The newly granted status covers the same area as Mayur’s existing Mining Licence
- Mayur Resources Managing Director Paul Mulder says the concessions mark a “great endorsement” for the project
- Mayur Resources shares closed today’s session up 8.57 per cent to trade at 19 cents
Mayur Resources’ (MRL) Central Cement and Lime project has been granted Special Economic Zone status from Papua New Guinea’s Special Economic Zones Authority Board.
In achieving this status, Mayur said it is entitled to a number of fiscal benefits including income tax relief, import tariff exemptions and associated concessions in accord with the Special Economic Zones Authority 2019.
The new license covers the same area as Mayur’s Mining Lease already granted for the CCL Project, located across Kido and Rea Rea.
The project is located 25 kilometres northwest of Port Moresby in PNG and was awarded a 20-year Mining Lease in August 2020.
In its statement to the market, MRL said the concession and benefits were significant and would strengthen the financial outcomes of the project.
Mayur Resources Managing Director Paul Mulder said attaining Special Economic Zones status sets “right” conditions for large scale investments thrive.
“This is a great endorsement for the project, I am sure this will give our existing and new investors the confidence required and will also contribute to a range of nation building community infrastructure and services initiatives associated with the project,” he said.
Special Economic Zones Authority Board Chairman Varigini Badira said the Mayur proposal was of a very high standard and receive unanimous support from the board.
Mayur Resources shares closed today’s session up 8.57 per cent to trade at 19 cents.