PNG’s Economy Still Dominated by Mining Sector, Says Central Bank

Papua New Guinea is set to benefit significantly from the Pacific Lime and Cement (PLC) project, launched last week, which promises to enhance both industrial production and economic development in the country.

 Central Lime Project to Deliver Economic Impact Across PNG

The project will locally manufacture quicklime and other lime-based products, replacing imports and supporting major sectors such as agriculture, mining, and construction. PLC Managing Director Paul Mulder said the project would add value to PNG’s natural resources and support downstream processing capacity.

Speaking at the launch, Mulder described the event as the culmination of over ten years of planning. He noted the transformation of PLC from a resources company into an industrial manufacturer as a key shift for the country’s industrial future.

Mulder highlighted the government's Final Investment Decision as a pivotal move, reinforcing confidence in the project’s strategic potential. He said the Central Lime Project would establish PNG as a regionally important supplier of lime and cement.

The project is expected to generate hundreds of jobs, create opportunities for small businesses, and bring in export revenue. Mulder stressed the importance of delivering shared value by working with local communities and government.

As part of its commitment, the project includes local equity participation, royalty benefits for landowners, and structured support through a Business Development Plan for local enterprises and PNG-based suppliers.

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PNG’s Economy Still Dominated by Mining Sector, Says Central Bank