MINING Minister Hon. Wake Goi has conveyed his congratulatory message to the management of K92 Mining following their record-high production results for the last quarter of 2024.
Minister Goi was impressed with the remarkable contributions made to Papua New Guinea’s mining industry by the company, as well as giving a boost to the economic prowess of the country.
“This record- breaking performance demonstrates the company’s operational excellence and underscores the strength and potential capacity of our mining industry to drive the country’s economic growth creating positive impacts such as increased employment opportunities for our people”, Hon. Goi highlighted during an interview with the PNG Business News.
He pointed out the remarkable 37% increase from quarter 4 2023 and 21% rise from the previous record in quarter 3 2024. The K92 Mining Inc. Report include a gold equivalent (AuEq) production of 53,401 ounces in quarter 4 2024 at the Kainantu Gold Mine.
“The company has also surpassed its annual production guidance, producing 149, 515 ounces AuEq for 2024, marking a 27% growth from the previous year”, He explained.
He hopes to see the company maintain the good reputation and encourage them to operate in compliance with legal frameworks and regulations of the country with due diligence.
Mr. Goi also appreciated the company for their efforts in advancing and exploring their effort in paying corporate tax, and their commitment to upholding the country’s mining laws as well as business and national laws whilst operating within the country.
“K92 Mining’s continued growth reflects a balanced approach to mining which prioritises both the economic success and environmental responsibility”, Goi stated.
Minister Goi has also taken on the responsibility to addressed concerns raised by the Member of the district, landowners and the community and he wishes to make those discussions with the Government, seeking a way forward.
He expressed, Government is committed to ensuring investors such as K92 Mine develop and bring positive economic impacts and they are keen to see more investors doing more of such in the communities and the nation as whole.
