K92 Mining Achieves Major Expansion Milestone in PNG
K92 Mining Ltd has reached a significant construction milestone in Papua New Guinea (PNG) with the successful installation of the SAG and Ball mills for its new 1.2 million tonnes per annum process plant, part of the company’s Stage 3 expansion project. The Ball Mill installation was completed on April 19, followed by the SAG Mill on April 23.
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| K92 Mining Achieves Major Expansion Milestone in PNG |
The company stated that commissioning of the new plant is scheduled to begin later this quarter, with operations expected to commence in the fourth quarter of 2025. The expansion is seen as a pivotal step in K92’s transformation into a tier 1 mid-tier gold producer in PNG.
According to Executive Director John Lewins, construction is progressing well, with approximately 75 per cent of the growth capital already spent or committed as of March 31, 2025. He emphasized the company’s commitment to delivering long-term economic and social benefits to PNG and its communities.
Lewins highlighted the importance of responsible operations, noting that the completed mill installations are key to advancing the project’s commissioning phase. He added that the Stage 3 expansion will drive significant improvements for both the company and the country.
Among the key achievements of the expansion are the creation of over 500 jobs, an expected workforce increase to 2,500 by 2027, and planned investments of K600 million in 2024 and K800 million in 2025. Exploration funding is set to grow to K80 million in 2025 and K120 million in 2026. K92 is also on track to become one of the top corporate taxpayers in the sector and is expanding its support for education, infrastructure, health, agriculture, and business development programs across PNG.
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