K92 MINING LAUNCHES STAGE 3 EXPANSION

BY RAYLEEN WANJIMAN
K92 Mining has marked a historic milestone with the commissioning of its Stage 3 Expansion, a project hailed by Chief Executive Officer and Director John Lewins as a “step change” for Papua New Guinea’s mining sector.

The event, held this week in Kainantu, included a minute’s silence in honour of the late Luther Wenge, Governor of Morobe Province.

The new processing plant was officially launched by Prime Minister James Marape, a move Lewins described as a momentous achievement, completed on budget—a first for the industry—and positioning K92 as PNG’s next Tier 1 gold mine.

“This expansion is the result of years of investment, exploration, and partnerships with government and local communities,” he said. Over the last 24 months, the company invested an estimated K350 million in Stage 3 expansion and an additional K40 million in exploration, making it the largest foreign investment in the country during this period.

The company also highlighted its contribution to PNG’s economy, reporting K161 million in corporate tax paid in 2024, with projections of K378 million this year, alongside royalties and payroll taxes exceeding K75 million.

Prime Minister Marape and Mining Minister Rainbo Pait with other senior ministers attended the commissioning, commending K92 Mining for its sustained economic and workforce contributions.

Lewins also commended the collaboration between the company, the Marape Government, the Mineral Resources Authority, provincial administrations, landowners, and local communities.

“Their trust and cooperation have allowed K92 to achieve milestones many developers in the past could not,” he said.

Reflecting on the company’s growth over the past decade, Lewins noted that K92 has expanded from just 100 employees to over 2,400, the majority of whom are Papua New Guineans.

“K92 is very much a PNG company,” he said, as the company celebrates its 10th anniversary.

Looking forward, Lewins challenged his team to build on this success over the next decade, reaffirming K92’s commitment to sustainable growth, local empowerment, and national development.