K92 Mining has revealed a forecasted uptick in gold-equivalent production and a record exploration package across Papua New Guinea in 2026, according to operational guidance.
The company expects between 190,000–225,000 ounces of gold equivalent to be produced in the coming year – up from around 170,000 ounces the year before – as output strengthens in the second half of 2026 with key expansion projects coming online.
Forecast by‑product cash costs are $US710–770 per ounce, with all‑in sustaining costs of $US1,250–1,350 per ounce.
Kainantu, a high‑grade underground mine in the Eastern Highlands province, has undergone multiple expansions, most recently the Stage 3 Expansion, which increases throughput to about 1.2 million tonnes per annum and positions the operation as a globally competitive, high‑margin asset.
Stage 4 expansion is planned to further raise capacity to around 1.8 million tonnes per annum, driving production toward a potential production rare of more than 400,000 ounces of gold equivalent and a significantly extending mine life.
“Building on our record operational performance in 2025, including the successful commissioning of the Stage 3 Expansion process plant, we are pleased to provide our 2026 guidance, forecasting a significant increase in production, with low cash costs and all‑in sustaining costs,” K92’s chief executive officer John Lewins said in a statement.
K92 has budgeted $US31–35 million for exploration, targeting near‑mine prospects and regional targets, and $US100–108 million in growth capital, focused on completing Stage 3 and initiating Stage 4 work.
“Exploration also remains a key priority, with a record program planned to target new discoveries and expand resources across multiple near‑mine and regional targets,” Lewins said.
“We look forward to another strong year of execution while continuing to deliver long‑term value for our employees, communities and all stakeholders in Papua New Guinea.”
With most Stage 3 capital already committed and a strong balance sheet, K92 enters 2026 well positioned to scale production and advance Kainantu’s transformation into a Tier 1 gold‑copper operation.
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