K92 Mining Ltd. (“K92”), operator of the Kainantu Gold Mine in Eastern Highlands Province, announced that it has paid PGK 230,920,184 to the Internal Revenue Commission (“IRC”) as its third and final scheduled corporate tax instalment for 2026.
K92’s total tax and royalty contributions for 2026 have reached PGK 991 million, comprising corporate income tax, dividend withholding tax, royalties, and salaries and wages tax. The Company expects these contributions to exceed PGK 1 billion by year-end, reinforcing its
position as one of Papua New Guinea’s leading taxpayers in the mining sector.
In Q3 2026, K92 surpassed one million gold equivalent ounces produced since commercial production began at Kainantu in 2018. Since then, K92 has invested more than PGK 3.4 billion in expansion and exploration, spent over PGK 2.6 billion locally and generated more than PGK 8.7 billion in export value.
Importantly, K92’s contribution extends to local businesses, essential infrastructure and community programs, including but not limited to the following:
El Niño response. K92 has committed PGK 3 million in in-kind assistance: PGK 1 million each for the Eastern Highlands and Morobe provincial governments, and PGK 250,000 each for Kainantu, Obura-Wonenara, Markham and Usino-Bundi districts. The assistance is being
provided through goods and services identified by the relevant authorities.
Kainantu Hospital. K92 is working with the Eastern Highlands Province and the Eastern Highlands Provincial Health Authority on a new Level 4 hospital for Kainantu under the Infrastructure Tax Credit Scheme (ITCS). The project is expected to commence in 2027 at an estimated cost of PGK 90 million.
Local businesses and landowner joint ventures. In 2025, K92 paid PGK 136.6 million to joint ventures with local communities, supporting businesses in transport, security, camp services, catering, maintenance, mobile equipment and exploration support. These payments formed part of PGK 667.0 million in procurement from PNG suppliers, representing 52% of total procurement expenditure.
Community infrastructure. K92 had invested approximately PGK 20.5 million in ITCS projects to 30 September 2026. Its first project, the upgrading and sealing of the Konkua to Bilimoia road, remains under construction and will improve access for surrounding communities.
Community programs. K92 has invested in a range of multiple high-impact community programs in 2025, including education, sustainable agriculture and livelihoods, youth sport, and health awareness and outreach.
Education and skills. K92’s Community Bursary Programme supported 62 recipients in 2025 and 100 in 2026, while its Adult Literacy Programme supported 406 participants in 2025. K92 has also committed a further PGK 500,000 for scholarships in Kainantu, with funding to be provided once the local scholarship scheme is established.
The Stage 4 Expansion is expected to lift annual production to more than 400,000 gold equivalent ounces following commissioning and ramp-up, approximately double current production levels. This growth is expected to increase tax and royalty contributions, create
further opportunities for PNG suppliers and support continued investment in local communities.
David Medilek, K92 Mining’s Chief Executive Officer and Director, said, “This third corporate tax instalment of PGK 231 million reflects Kainantu’s growing contribution to Papua New Guinea, with our total tax and royalty contributions for 2026 expected to exceed PGK 1
billion by year-end. We are proud of our team and grateful to our landowners and government partners for making this growth possible. Alongside our tax contributions, we remain committed to supporting local communities through business development, employment, education, healthcare and infrastructure, ensuring that Kainantu’s continued growth delivers lasting benefits for our landowners, Eastern Highlands Province and the wider country.”