Rethinking What “Resource-Rich” Really Means for Papua New Guinea

K92 Mining Inc. recently marked a significant milestone in its journey, celebrating its first-ever Cares (Collaborative, Accountability, Respect, Excellence, Safety) Awards at The Stanley Hotel and Suites in Port Moresby. The event highlighted not only the company's core values but also the incredible growth it has experienced over the past decade.

CEO John Lewins took the opportunity to reflect on the challenging yet rewarding journey K92 Mining has undergone. “It has taken us 10 years to arrive at this point,” Lewins shared with the attendees. “It’s been a challenging journey, but I would like to think it’s been incredibly rewarding. We’ve taken a mine that was once owned by one of the largest gold mining companies in the world—yet it was never profitable, never successful, and had been closed for over seven years—and turned it into one of the most profitable and successful gold mines in Papua New Guinea.”

Lewins went on to highlight K92 Mining’s ambitious plans for the future, with the company investing heavily in transforming the Kainantu mine into a world-class operation. With an investment of K800 million, K92 is set to increase production to 300,000 ounces of gold per annum, with projections to exceed 400,000 ounces annually in the near future. This expansion represents a significant leap in both operational capacity and its role in the local and national economy.

Additionally, K92 Mining is poised to make substantial contributions to Papua New Guinea’s economy, with over K200 million in corporate taxes expected to be paid in 2025. This comes after an initial payment of K70 million in April, underscoring the company’s continued support for the country’s economic development.

At the awards ceremony, Lewins also recognized the hard work and dedication of several employees, acknowledging their contributions to K92 Mining’s ongoing success. The winners of the Cares Awards were:

Collaborative Teamwork: Johnson Tololo, Ian Karara, Andrew Palyak, Nicholas Peter, and John Kelekai

• Accountability: Walker Tim
• Respect for Others: Larry Kuraip
• Excellence: John Kitum
• Safety: Jack Tamat

The event also drew praise from Jerry Gary, Managing Director of the Mineral Resources Authority (MRA), who commended K92 Mining for its efforts in investing in the country’s most valuable resource—its people. "Despite the challenges facing Papua New Guinea, the mining industry continues to focus on human capital," Gary remarked. "We are very proud of K92 Mining’s commitment to building our greatest asset—our people."

As K92 Mining continues to grow and evolve, Lewins' reflections on the past decade serve as a reminder of the company's resilience and dedication to creating a lasting impact on both the industry and the community in Papua New Guinea. With ongoing investments and a bright future ahead, K92 Mining is poised to remain a key player in the country’s gold sector.

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Rethinking What “Resource-Rich” Really Means for Papua New Guinea