Pacific Lime and Cement has secured commitments for an AUD50m (US$34.5m) share placement to advance its cement, lime and port developments in Papua New Guinea.
The company will allocate AUD10m to early works and preparation for a final investment decision on its Central Cement Project, targeted for the first quarter of 2027. A further AUD27m will support development of the associated special economic zone and port expansion. Placement settlement is expected on 13 November, with securities issued around 16 November.
Separately, Pacific Lime and Cement has signed a non-binding term sheet with the US International Development Finance Corp for a proposed US$15m senior unsecured convertible note with an eight-year term. The funding would support project preparation across its lime, cement and port businesses.
The DFC investment remains subject to due diligence, approvals and definitive documentation. Neither the placement nor the proposed convertible note constitutes full financing for construction of the cement plant.
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