Pacific Lime and Cement Limited (PLC) has reached a milestone commercial agreement with global gold producer Newmont Corporation, securing a long-term offtake contract for quicklime from its Central Lime Project in Central Province, Papua New Guinea (PNG).
Under the agreement, Newmont will become a cornerstone customer for the Central Lime Project, contracting volumes equivalent to roughly one-third of the operation’s nameplate production capacity.
PLC managing director Paul Mulder said the agreement with Newmont is a “significant milestone” for the company, as well as for PNG’s industrial development, marking the first large-scale domestic quicklime supply agreement for the country.
“This agreement validates more than a decade of work to establish domestic quicklime production capable of meeting Tier-1 mining standards, while delivering strong economic, social, and environmental outcomes for PNG,” Mulder said.
“With a foundation offtake in place, PLC is well positioned as the Central Lime Project advances and shall progress further customer discussions as we move toward first production.”
The Central Lime Project is designed to replace imported quicklime currently supplied into PNG from offshore sources. The offtake agreement is structured as a multi-year arrangement, which is set to commence following the complete construction and commissioning of the project, subject to customary conditions.
Newmont Lihir general manager Dawid Pretorius said the agreement reflects the company’s commitment to creating long-term social and economic value in PNG.
“This agreement was not about short-term savings,” Pretorius said.
“It required significant tie and effort to achieve an outcome that delivers shred value for Newmont, our partners, and the nation. It demonstrates our commitment to supporting domestic industry and the broader social and economic benefits that flow form building local capability.”
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