Minister for Mining Wake Goi Applauds K92 Mining's Record-Breaking Q3 Production

Papua New Guinea’s Kainantu Gold Mine Achieves New Heights with Record-Breaking Production Figures

Editorial Team (ET)May 9, 2025

Minister for Mining MP Wake Goi has lauded K92 Mining Inc. for its exceptional achievements during the third quarter of 2024 at the Kainantu Gold Mine. The mine delivered record-breaking production, with October figures reporting an impressive 44,304 ounces of gold equivalent. Goi emphasized the significance of this milestone, applauding the dedication and expertise of the workforce that made this success possible.

“This outstanding production highlights the capabilities of our local workforce and reinforces the importance of the mining sector in driving economic growth in Papua New Guinea,” Goi stated during a press briefing.

Economic Boost Through Mining Excellence

The continuation of operations at the Kainantu Gold Mine is more than just a win for K92—it’s a significant economic driver for Papua New Guinea. Goi noted that the mine's operations create substantial employment opportunities for locals, providing a much-needed economic lifeline for surrounding communities.

Additionally, K92’s contributions extend beyond job creation. The corporate taxes paid by the company serve as a vital revenue stream for the government, funding critical public services such as education, healthcare, infrastructure development, and social programs. Goi highlighted how these revenues benefit not just mining regions but the entire nation, fostering a sense of shared prosperity.

Infrastructure and Community Development

The revenue generated from Kainantu’s operations also finds its way into community-building projects. Goi stressed that reinvesting these funds into local infrastructure—roads, utilities, and public facilities—creates a ripple effect, improving living standards for residents and promoting sustainable development.

“Taxes from Kainantu’s operations help us build better communities, ensuring that the benefits of mining extend far beyond the industry,” Goi stated.

A Global Spotlight on Papua New Guinea’s Mining Potential

Kainantu’s record production achievements place Papua New Guinea firmly on the global mining map. Goi underscored how K92’s success showcases the nation’s resource-rich potential and its competitiveness in the international mining sector.

“As we celebrate these achievements, we also recognize the potential for future growth and investment in our mining industry,” Goi remarked. He noted that responsible mining practices not only attract foreign investment but also solidify Papua New Guinea’s position as a key player in global resource extraction.

A Commitment to Growth and Sustainability

Minister Goi reiterated his commitment to supporting the mining sector, recognizing it as a cornerstone of the nation’s economic development. He expressed optimism for the future, pointing out that companies like K92 Mining Inc. pave the way for sustainable growth while maintaining respect for environmental and social responsibilities.

“The success of the Kainantu Gold Mine serves as an example of how responsible mining can bring prosperity to our nation,” he concluded.

K92 Mining

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