Nabilah S
K92 Mining Ltd. (“K92”), the operator of the Kainantu Gold Mine in Eastern Highlands Province, has unveiled its operational outlook for 2025, highlighting significant production growth, major expansion projects, and an ambitious exploration program to drive continued success.
Key Highlights of the 2025 Guidance:
- Production: Targeting 160,000 to 185,000 ounces of gold equivalent (AuEq), marking an increase from the 2024 record production of 149,515 ounces AuEq. This growth is driven by the Stage 3 Expansion process plant, set to begin commissioning and ramp-up in the second half of Q2 2025.
- Costs: By-product cash costs are projected at $710-$770 per ounce of gold, while all-in sustaining costs (AISC) are expected to range between $1,460-$1,560 per ounce.
- Growth Capital: A $105-$110 million allocation for growth projects in 2025 follows the $102 million investment in 2024, with 70% of Stage 3 and 4 Expansion capital already spent or committed by year-end 2024.
- Exploration Budget: A planned $17-$20 million will fund extensive exploration efforts at Arakompa, Maniape, Kora South, Judd South, and other high-priority targets.
- Project Milestones: The Stage 3 Expansion process plant is slated for commissioning in late Q2 2025, marking a transformative step in Kainantu’s evolution into a Tier 1 Mid-Tier Producer.
CEO Statement:
John Lewins, CEO of K92 Mining, expressed strong optimism about the company’s trajectory:
There is tremendous enthusiasm internally and among our stakeholders in Papua New Guinea as we advance toward becoming a Tier 1 Mid-Tier Producer with the delivery of the Stage 3 Expansion. In 2025, K92 is set to achieve yet another annual production record, make significant capital investments, and expand our exploration efforts, all while continuing to contribute through taxes, royalties, and community development.
As Kainantu grows, so do the benefits for Papua New Guinea—ranging from increased employment opportunities, local procurement, and expanded community programs to substantial contributions in taxes and royalties. We are proud to be making a positive impact that supports the prosperity and development of the region.
