K92 Mining Ltd. (“K92”), the operator of the Kainantu Gold Mine in Eastern Highlands Province, reported strong second quarter (“Q2”) financial results on August 11th following its strong quarterly production of 34,816 ounces gold equivalent (“AuEq”) announced on July 8th. The strong quarter was highlighted by the significant progress made on the Stage 3 Expansion and the significant financial contributions to Papua New Guinea’s economy and our various stakeholders.
On the Stage 3 Expansion, a major milestone was achieved during the quarter with the commencement of commissioning of the new 1.2 million tonne per annum Stage 3 Expansion process plant. This will transform Kainantu into a Tier 1, Mid-Tier Producer and commissioning of the new plant is expected to be completed in the first half of Q4 2025.
The Company is proud to report the following in its Q2 2025 financial results:
- PGK 91 million in corporate tax instalments to the Government of Papua New Guinea. Subsequent to quarter end, in late-July a corporate tax ins Should you have any questions or require further information, feel free to reach out.
- Thank you all for your ongoing support to K92 Mining.
- talment of PGK 161 million was paid, bringing total corporate tax payments year to date to PGK 300 million.
- PGK 198 million in capital investment, primarily for advancing the Stage 3 Expansion
- PGK 17 million spent on exploration activities, targeting near-mine and regional growth
- PGK 8 million in royalties paid and accrued
- PGK 3 million in Mineral Resource Authority levies
- PGK 146 million spent with local suppliers, strengthening the domestic economy
- PGK 2 million invested in community programs, supporting health, education, and infrastructure
These contributions reflect K92’s commitment to delivering lasting positive impacts in our communities through responsible resource development and ongoing partnerships with national and local stakeholders.
John Lewins, K92 Mining’s Chief Executive Officer, said, “Q2 2025 was a milestone quarter as we commenced the commissioning our new Stage 3 1.2 million tonnes per annum Process Plant, a transformative step as Kainantu becomes a Tier-1, Mid-Tier producer. We are also very proud to have contributed meaningfully to PNG’s economy during the quarter as well,
including PGK 91 million in corporate tax instalment payments, over PGK 214 million in capital and exploration spending and PGK 11 million in royalties and MRA levies. Subsequent to quarter end, we made another corporate tax installment of PGK 161 million in late-July, bringing total corporate tax payments year to date to PGK 300 million. As the mine expands, so does the benefits to our communities and Papua New Guinea.”
