Era Resources has entered into a Memorandum of Understanding (MoU) with Mayur Power Generation PNG Ltd, a company with a vertically integrated power generation strategy that is actively developing new low-cost, multi-fuel power projects in Papua New Guinea.
Under the MoU, the parties have agreed to negotiate on a non-exclusive basis the terms of a development agreement to secure over-the-fence supply of power for the Yandera Copper Project.
Mayur’s managing director Paul Mulder said, “We are excited about the potential of the Yandera project and the significance of it as a project of national interest in PNG. Mayur Power Generation is optimistic about our ability to provide a cost effective and reliable power solution.”
Era’s vice president, global operations, André Wessels said, “We are impressed with Mayur’s strategic approach, and progress, with addressing some of the challenges in relation to power generation in PNG. We look forward to working with Mayur towards securing a competitive power solution for the Yandera project.”