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Mayur signs mineral development pact with Papua New Guinea's Gulf province

Mayur Resources Ltd. said Dec. 8 that it signed a memorandum of agreement with the government of Papua New Guinea's Gulf Province for the development of its natural resources under an exclusive license.

The agreement envisages the strategic development of the province's natural resources and provides a license to investigate, study, develop and export value-added products.

Mayur's mineral exploration portfolio in the Gulf province includes industrial minerals and coal.