K92 Mining Inc., operator of the Kainantu Gold Mine in Papua New Guinea’s Eastern Highlands Province, reported record production and financial results for 2025, driven by strong fourth-quarter performance and the commissioning of its Stage 3 expansion plant.
In a statement released on March 2, the company said it produced 47,178 gold equivalent ounces (AuEq) in the fourth quarter of 2025, bringing total production for the year to a record 174,134 AuEq.
K92 said the results coincided with the completion of commissioning for the new 1.2 million tonnes-per-annum Stage 3 expansion process plant at Kainantu. The facility is now ramping up operations and is expected to support further production growth.
The company also reported significant economic contributions to Papua New Guinea during the year. These included PGK 423 million in corporate tax paid or accrued to the national government, PGK 50 million in royalties, and PGK 11 million in Mineral Resource Authority levies.
Capital investment reached PGK 862 million, mainly related to advancing the Stage 3 expansion. K92 also spent PGK 74 million on exploration activities targeting near-mine and regional opportunities.
The miner said it spent PGK 667 million with local suppliers and PGK 137 million on local joint venture contracts, aimed at increasing participation by domestic businesses and landowner groups. Community programmes received PGK 11 million in funding, supporting health, education and infrastructure projects.
K92 Mining chief executive officer John Lewins said the year marked a significant milestone for the company and the Kainantu operation.
“2025 was a transformational year for K92 and for the Kainantu Gold Mine. We delivered record annual production and financial results while successfully commissioning the new 1.2 million tonnes-per-annum Stage 3 Expansion Process Plant,” Lewins said.
He said the expansion would increase processing capacity and support long-term growth for the operation.
“The expansion represents a long-term investment in Papua New Guinea, supporting increased employment, stronger local business participation, and higher tax and royalty contributions,” Lewins added.
“As production grows, so too will the economic benefits for the Government of Papua New Guinea, our landowner partners, local communities and business stakeholders.”
K92 operates the Kainantu Gold Mine, one of Papua New Guinea’s producing underground gold mines, located in Eastern Highlands Province. The company has been expanding the operation in recent years as part of its strategy to increase output and extend the life of the mine.
