Vision Blue Resources Invests $40m Into Mayur’s Lime Project
UK investment fund Vision Blue Resources (VBR) is investing $40 million to acquire a 49% stake in Mayur Resources’ lime venture in Papua New Guinea. This capital is anticipated to fully cover the project’s development, construction, carbon reduction strategies, and progression to commercial production. Following the agreement, Mayur and VBR will jointly pursue debt financing, seeking participation from the Australian government. Located near Port Moresby, PNG’s capital, the venture is projected to generate more than $25 million annually over 30 years, with the first revenues expected in the first half of 2024.
Source: https://www.mining.com/vision-blue-injects-40-million-into-png-lime-project/
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