Pacific Lime and Cement Unit Partners With PowerChina to Develop PNG Project; Shares Down 9%

MT Newswires Live

2025/12/02

Pacific Lime and Cement's (ASX:PLA) Mayur Iron PNG subsidiary partnered with PowerChina PNG for the development of the Orokolo Bay project in Papua New Guinea, according to a Tuesday filing with the Australian bourse.

PowerChina will finance, build, operate, and market products from the project, with a commitment towards first cashflow in 2026, while the company retains the majority of profit over the life of the asset, the filing said.

PowerChina has replaced Pacific Unison as the company's partner after the termination of Pacific Unison's role under the joint cooperation agreement, per the filing.

Pacific Lime and Cement shares fell 9% in morning trade on Tuesday.

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