Interview with Paul Mulder, Managing Director of Pacific Lime & Cement Ltd.

Recording date: 26th August 2025

Pacific Lime & Cement is developing Papua New Guinea's first integrated lime and cement production facility, targeting a market opportunity worth over $50 million annually in import replacement. Led by Managing Director Paul Mulder, a 30-year resources veteran with experience at BHP and managing Gina Rinehart's energy assets, the company is capitalizing on PNG's complete dependence on imported lime and cement.

The project's competitive advantage stems from exceptional resource quality and strategic positioning. Located just 24 kilometers from Port Moresby, the facility controls 400 million tons of high-grade limestone that sits directly at surface level, eliminating costly stripping operations. With the quarry situated merely 800 meters from wharf facilities adjacent to PNG's $18 billion LNG infrastructure, the company enjoys a 75% freight distance advantage over Southeast Asian competitors.

PNG's annual lime demand of 250-300,000 tons represents 70-75% of Pacific Lime & Cement's planned phase one capacity, with major mining companies committed to supporting competitive local suppliers. The country's cement consumption of just 33 kilograms per capita—compared to 250-700 kilograms in comparable developing nations—indicates substantial growth potential as PNG pursues $55 billion in planned infrastructure projects.

Government support has been comprehensive, with Pacific Lime & Cement securing PNG's first industrial Special Economic Zone status, providing 10-15 years of corporate tax relief. Community Development Agreements ensure local participation through infrastructure investment, employment, and equity participation.

Construction of the $80 million phase one is underway with an 18-month timeline, funded entirely through equity to maintain operational flexibility. Management projects $150-200 million EBITDA at full development, with export potential to Australia where the company maintains significant shipping time advantages over traditional suppliers.

The integrated approach positions Pacific Lime & Cement to serve PNG's entire construction value chain while establishing a platform for regional expansion.

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