Mayur Group (ASX:MRL) has finalized its Community Development Agreement (CDA) for the Central Cement and Lime Project in Papua New Guinea, with all stakeholders agreeing on the terms, according to a Tuesday filing with the Australian bourse.
The CDA outlines the commercial relationship between the company, the PNG government, and landowners, ensuring equitable distribution of project benefits, the filing said.
The agreement will now be submitted to the PNG National Executive Council for final approval, paving the way for full-scale development of the project early in the year, the filing added.
Shares of the company rose 2% in recent Tuesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.