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Gerry Harvey and former NRL captain Darren Lockyer are backing Pacific Lime and Cement (PLC), a reported $570 million cement-plant plan in Papua New Guinea’s Central Province. Harvey is reported to hold about 7% of the rebranded company, while PLC lists Lockyer as Head of Business Affairs. The development combines a quicklime facility targeted to start production in the first half of 2027 with a larger clinker-and-cement project described as ready to build. Its stated purpose is to replace imported construction and industrial materials in PNG and supply Australia and other Pacific markets. The headline investment figure is not yet settled: an August 2025 report put Phase One at $400 million, while October 2026 coverage cited $570 million for the cement-plant plan.
Who is Gerry Harvey backing in PNG cement?
Harvey is backing Pacific Lime and Cement, the developer of the integrated Central Lime Project and Central Cement Project. PLC’s management page identifies Richard Pegum as executive chairman, Paul Mulder as managing director and Darren Lockyer as head of business affairs.
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Harvey invested AU$3 million in March 2025 through his investment vehicle Velrosso, lifting his stake in Mayur Resources to 6.7% in a fundraising intended to develop the Central lime project. Later coverage of the rebranded Pacific Lime and Cement holding describes his interest as about 7%. The exact post-rebrand percentage has not been independently detailed.
The industrial site is in Central Province on the coast, 35 kilometres north of Port Moresby and 7 kilometres from the Exxon LNG facility, according to the project description. PLC’s homepage uses a separate 24-kilometre distance for its broader platform, so those figures should not be treated as measurements of the same facility.
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What is Pacific Lime and Cement building?
PLC is proposing two linked operations supplied by the same limestone resource, quarry and export infrastructure.
Central Lime Project
- Two quicklime kilns, each rated at 600 tonnes per day.
- A wholly owned wharf designed to handle Handymax-class vessels.
- First quicklime production targeted for the first half of 2027.
- Applications cited by the company include water treatment, road stabilisation and processing copper, gold and nickel.
Central Cement Project
- A planned 1.65 million tonnes of clinker a year.
- About 0.8 million tonnes would be sold as clinker, with the balance processed into cement.
- PLC describes it as Australasia’s first export-facing clinker and cement development and says permits have been obtained.
- The project is described as ready to build, but a firm construction start and operating date have not been announced.
Both projects are designed around a 382-million-tonne JORC resource across the Kido and Rea Rea deposits. PLC says an expansion scenario could support a mine life of at least 50 years. The quarry, processing plant and deep-draft wharf are intended to sit close together; executive chairman Richard Pegum says the factory, wharf and other assets will be within 700 metres, reducing internal handling and shipping distances.
How do the lime and cement phases differ?
The phases share infrastructure but target different products, customers and schedules.
| Comparison | Central Lime Project | Central Cement Project |
|---|---|---|
| Product and users | Quicklime for mining, water treatment and road works | Clinker and cement for construction and infrastructure |
| Timing | Positive final investment decision reported in August 2025; first production targeted for H1 2027 | Described as permitted and ready to build; operating date not stated |
| Market | PNG import replacement with potential regional exports | PNG construction supply plus Australia and Pacific export markets |
| Logistics | Two kilns and a Handymax-capable company-owned wharf | Clinker and cement production linked to the same quarry, plant and wharf |
| Ownership framework | Company reports proposed government participation and landowner interests | Development agreement gives the PNG government 13% equity, with an option to rise to 18%; local landowner groups and the relevant provincial government receive free-carried interests |
Why does PNG import cement and lime?
PLC says PNG uses about 38 kilograms of cement per person each year, compared with a global average of 500 kilograms. The company also says roughly half of the cement in Australian concrete products is imported from Asia. Those figures underpin its argument that a local, export-oriented plant could replace imports while serving roads, housing, mining, water systems and agriculture.
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Local production would not remove every import requirement: cement and lime supply chains still depend on fuel, machinery, spare parts, shipping and reliable power. The project’s proposed advantage is that limestone extraction, processing and deep-water loading would be co-located, allowing bulk material to move directly to domestic customers or ships bound for nearby markets.
What are the reported cost and construction plans?
The National reported in August 2025 that Phase One had an estimated investment of $400 million, had reached final investment decision and would require about 18 months of work on roads, bridges, a quarry, camp, wharf, workshops and kilns. PLC’s current lime-project information dates the positive FID to August 2025 and retains the H1 2027 first-production target.
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An Australian Financial Review headline dated 23 October 2026 reported a $570 million cement-plant plan. The two numbers should be read as different dated estimates or scopes; the public material does not reconcile them into a single final capex figure. Financing mix, total combined project cost and independent returns remain undisclosed.
Could the project lower building costs and create growth?
PLC has said cement prices could fall from roughly US$205–230 per tonne to about US$100. That is a company target, not a verified market result. Actual prices would depend on power, fuel, port charges, operating performance, competition, taxes, distribution and exchange rates.
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The company’s managing director, Paul Mulder, says customers would use a Papua New Guinean product instead of imports. If the plants reach their stated capacities, the project could add quarrying, construction, plant operations, transport, port and maintenance work, while retaining more processing value in PNG. The government and landowner equity arrangements are intended to give public and customary stakeholders a direct financial interest rather than relying only on royalties or wages.
PLC’s March 2026 media summary also describes a 10-year tax-exemption framework, proposed government participation of 18%–30% in project entities and a customer commitment from Newmont for about one-third of initial lime capacity. Those are company-reported commercial and policy claims, not guarantees of tax treatment, sales or project financing.
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- Capital scope: The $400 million and $570 million figures come from different dates and descriptions, and a final combined budget has not been published.
- Execution: Building a coastal quarry, bridges, roads, camp, kilns, workshops and wharf in sequence creates schedule and logistics dependencies.
- Market risk: Import replacement and exports depend on customers signing contracts, shipping economics and the ability to compete with established Asian suppliers.
- Evidence limits: The public material described for the project does not include an independent feasibility study, lender report or regulator assessment confirming the company’s price, demand, tax, earnings or customer-commitment claims.
- Ownership clarity: Harvey’s earlier 6.7% Mayur Resources stake and later “about 7%” PLC description do not establish his precise current holding.
The strongest confirmed near-term milestone is the lime project’s H1 2027 production target. The cement plant remains a permitted, ready-to-build proposal whose final cost, financing and construction schedule still need to be demonstrated.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Frequently Asked Questions
What is clinker, and how is it different from cement?
Clinker is the hard, kiln-produced intermediate made by heating limestone and other minerals. Cement is produced by grinding clinker, usually with gypsum and other permitted materials, into the powder used to bind aggregates in concrete.
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What does a free-carried equity interest mean for PNG landowners?
A free-carried interest generally means the holder receives an ownership share without paying its proportion of development costs during the agreed period. The precise rights, funding obligations and distributions depend on the project agreements.
Why are Handymax ships relevant to the project?
Handymax is a common bulk-carrier size category. A wharf able to receive these vessels can load or unload substantial volumes of lime, clinker or cement without relying solely on smaller coastal ships.
When will the cement plant itself start producing?
No production date for the cement phase has been stated. The H1 2027 target applies to first quicklime from the separate Central Lime Project.
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