Production at K92’s mines is expected to increase by over 35,000 ounces in 2025, a jump of 23.7 per cent.
Production is expected to hit 185,000 ounces of gold equivalent this year, up from the 149,515 ounces reported in 2024. The increase is driven by the commissioning and ramp-up of the new 1.2 million tonnes per annum processing plant.
Planning stockpiling will occur in the second quarter (Q2) of 2025, pushing production up for the second half of the year.
“There is tremendous enthusiasm internally, among our various stakeholders including in Papua New Guinea for the year ahead as K92 transforms into a Tier-1 mid-tier producer with the delivery of the stage three expansion,” K92 chief executive officer John Lewins said.
“In the second half of Q2, the stage three expansion process plant is scheduled to commence commissioning, marking the beginning of a step-change in our throughput and production capabilities.”
K92 is planning a large exploration program in 2025, projecting $17–20 million for the year. Growth capital is forecasted to hit $110 million.
“We enter 2025 in a position of strength, with 70 per cent of our stage three and four expansion growth capital spent or committed at 2024 year end, plus a notable strengthening of our cash position to a record high,” Lewins said.
“During this major production growth period, we plan to continue to invest heavily in exploration and significantly ramp up our exploration activities … we believe we control a significant and well-endowed mineral district that we are just scratching the surface of.
“We look forward to providing updates in due course.”
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