K92 Mining produced 46,093 ounces of gold equivalent during the second quarter of 2026 as its Kainantu Gold Mine in Papua New Guinea continued to ramp up production following the commissioning of its Stage 3 expansion.
The Vancouver-based miner said quarterly output comprised 42,931 ounces of gold, 1.78 million pounds of copper and 50,109 ounces of silver. It maintained its full-year production guidance of 190,000 to 225,000 ounces of gold equivalent, with output expected to be stronger in the second half as additional mining fronts and expansion projects come on stream.
The company also reported record quarterly ore processing of 225,965 tonnes, up 73 per cent from the same period last year and 59 per cent higher than the previous quarter. Gold and copper recoveries reached 93.8 per cent and 93.2 per cent, respectively, exceeding the recovery assumptions in its updated definitive feasibility study.
Underground development reached a record 3,326 metres during the quarter, while ore mined climbed to a record 228,254 tonnes. Total material mined, including waste, also hit a quarterly high of 426,012 tonnes, supported by the progressive ramp-up of a second mining front at Lower Kora and improvements to underground infrastructure.
K92 said several key Stage 3 expansion projects advanced during the quarter, including the completion of a second material pass, the expansion of its primary power station and continued construction of surface and underground pastefill facilities. A major ventilation upgrade, haul road improvements and new river crossings are scheduled for completion in the third quarter to further increase mining capacity and improve operational efficiency.
The company said 98 per cent of Stage 3 expansion growth capital had either been spent or committed as of 30 June, with the project remaining on budget. Commissioning of the underground pastefill circuit remains on track for the fourth quarter.
Chief executive officer John Lewins said the latest results reflected the benefits of recent investments in underground infrastructure and equipment, adding that additional mining fronts and major infrastructure projects due for completion this quarter are expected to support higher production rates in the second half of the year.
