Company Nam2029
$7.99 | Issue 09
IN THE COUNTRY
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K92 Mining Reports Strong Q1 Results at Kainantu
by: Wilkins Micawber
K92 Mining Ltd., the operator of the Kainantu Gold Mine in Eastern Highlands Province, has reported its strongest first quarter (“Q1”) results to date, with 47,817 ounces gold equivalent (“AuEq”) produced in Q1 2025.
The result significantly exceeded budget, marking a 74% increase from Q1 2024 and the second highest quarterly production in the Company’s history.
The strong quarterly results were driven by high-grade stopes from both the Kora and Judd deposits, a positive grade reconciliation compared to the resource model, combined with excellent plant performance.
Metallurgical recoveries remained high at 95.8% for gold and 95.1% for copper, both marking the second highest on record.
The process plant treated 103,449 tonnes of ore at a head grade of 14.9 grams per tonne AuEq. Underground operations mined 104,052 tonnes of ore, with total material movement reaching 315,182 tonnes, the second highest on record.
Additionally, underground lateral development was also strong, setting a new monthly record in March with 954 metres of advance. This was supported by several major infrastructure upgrades commissioned earlier in the quarter.
During the quarter, K92 continued to advance its transformative Stage 3 Expansion, which is designed to establish Kainantu as a Tier 1, Mid-Tier Producer.
Construction is progressing well, with approximately 75% of the growth capital either spent or committed as of 31 March 2025. The commissioning of the new process plant is scheduled to commence in the second half of Q2 2025.
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While investing significant capital in the mine during the quarter, K92 also made a corporate tax payment of PGK 48 million during the quarter.
The strong quarterly operational results reinforce K92’s capability to deliver on the upcoming expansions, which will significantly contribute to the economic development of Papua New Guinea while maintaining its commitment to safety, environmental stewardship, and community development.
John Lewins, K92 Mining’s Chief Executive Officer, said, “We are off to a great start in 2025 with our strongest Q1 to date. Operations have continued its momentum coming off a record year in 2024, achieving several records and near-records.”
“As our operation expands and becomes more successful, we are also very proud to contribute to the economic well-being of Papua New Guinea by making yet another corporate tax
payment during the quarter,” he said.
“With commissioning of the new 1.2 million tonne per annum process plant set to begin shortly, this is shaping up to be a milestone year for both Kainantu and Papua New Guinea as we move closer to becoming a Tier 1 Mid-Tier gold producer,” Lewins added.
Driving Global Growth from Local Roots:
Zenex Drilling's PNG-Based Expansion Story
After more than 25 years of drilling expertise across Papua New Guinea’s most remote and rugged terrain, Zenex Drilling is stepping boldly into its next chapter, with international growth on the horizon, a growing fleet of specialised equipment, and a workforce strategy that puts Papua New Guinean talent at the centre.
"This isn’t just about buying new machines," says Emmanuel Bonte, General Manager of Zenex Drilling. "It’s about how we’ve built the capacity to scale. The growth we’re seeing now is the result of years of effort investing in our people, refining our processes, and building genuine partnerships in the communities we work in."
At the heart of Zenex Drilling’s latest expansion is the acquisition of a heavyduty Piacentini 130t Low Loader. This specialist piece of equipment allows the company to move large-scale plant machinery with precision across mine sites, a capability increasingly sought by Tier 1 clients operating in PNG and abroad. This asset is already proving its value, recently photographed carrying machinery on-site.
The Piacentini Low Loader isn't just a logistical asset; it's a symbol of the company’s operational maturity. "With equipment like this, we’re able to offer integrated, end-to-end support to our clients," says Bonte. "We don’t just turn up with drill rigs. We come in with solutions for mobilisation, production support, maintenance, and everything in between."
Zenex Drilling's story is as much about
Zenex Drilling's story is as much about people as it is about machines. The company has long been recognised for its inclusive workforce model and investment in local talent. Many of its senior staff began as general labourers, rising through the ranks thanks to internal training programs and a cultural commitment to progression.
"One of the best decisions we made years ago was to stop waiting for qualified people to show up and start growing them ourselves," Bonte reflects. "That’s been transformative. We have local teams that are capable, confident, and leading projects in PNG and beyond."
This commitment to workforce development is formalised through Zenex’s 'Way We Work' initiative, a safety and leadership program tailored to the PNG context. Delivered through an open coaching model, the program equips employees not just with technical skills, but with the mindset and confidence to lead.
"It’s easy to forget how challenging these environments can be," Bonte says. "We’re often operating in terrain with no roads, no infrastructure, sometimes no phone reception. To succeed in those conditions, you need more than gear, you need people who know how to think on their feet and work as a team."
With more than 5.1 million hours worked without a lost time injury, Zenex Drilling’s safety record is a testament to the strength of its systems and the discipline of its crews. That safety culture is one of the reasons clients are turning to Zenex not just in PNG, but across international markets. "We’re now being approached for work in
Zenex Drilling’s low loader in action on site
Australia and South America," Bonte confirms. "We’ve spent decades building trust, and that reputation is starting to carry across borders."
The decision to scale internationally hasn’t been taken lightly. For Zenex, it’s not about rapid expansion but sustainable growth built on the same principles that served them well at home.
"We’re not chasing every opportunity. We’re choosing the right ones, where we know we can deliver value and maintain the quality we’re known for," Bonte explains. "That’s why investment in equipment including the low loader and the dual head sonic rig is so important. It’s a capability that makes us more agile, more responsive, and more competitive."
As the industry faces ongoing challenges in supply chains, skills
shortages, and environmental, social and governance (ESG) expectations, Zenex’s approach offers a compelling model: invest in people, build capability from within, and let excellence speak for itself.
"I’m proud that we’re a PNG company growing globally," says Bonte. "We’re proving that with the right mindset, our local expertise can compete anywhere in the world."
From humble beginnings to global growth, Zenex Drilling is showing what’s possible when technical innovation meets long-term community investment. And as their Piacentini Low Loader rolls across yet another mine site, carrying not just heavy machinery but the weight of decades of progress, one thing is clear: this is only the beginning.
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Datec-backed PNG Technology & Innovation Summit 2025 Sets Milestone in Country’s Digital Evolution
Papua New Guinea took a bold step toward digital transformation as Datec PNG Limited successfully hosted the inaugural PNG Technology & Innovation Summit 2025 at the Stanley Hotel in Port Moresby on 27-28 March 2025.
The landmark event convened industry leaders, tech pioneers, and innovators to explore cutting-edge advancements and shape the nation’s digital future.
The summit featured thought-provoking discussions and inspiring presentations, emphasizing collaboration and technological progress as key drivers of PNG’s development.
Distinguished guests, sponsors, and partners engaged in meaningful dialogues, laying the foundation for a more connected and technologically empowered nation.
This landmark summit celebrated collaboration, technological advancement, and the shared ambition to build a smarter, more connected nation.
“We extend our heartfelt gratitude to our distinguished guests, esteemed partners, generous sponsors, and valued clients whose presence and engagement made this event an extraordinary
success,” Datec said in a statement.
“Your contributions sparked meaningful dialogues that will shape PNG’s technological landscape for years to come. Together, we are forging a future defined by innovation and opportunity.”
Recognizing Key Sponsors and Partners
The event was made possible through the generous contributions of various organizations. Hewlett-Packard Enterprise led as the Gold Sponsor, reinforcing its commitment to global innovation. Co-Sponsors Telikom, Nasfund, and Huawei played crucial roles in bringing the summit’s vision to life.
The summit also received strong support from Silver Sponsors -- Lenovo, Fortinet, and Temenos, known for their advancements in data security and financial technology. Associated Partners -- Cybernetic Global Intelligence, RDL, and CloudSigma -contributed to progress in cybersecurity, cloud computing, and digital transformation.
Additionally, Event Partners including the National Banking Corporation, Kumul Consolidated Holdings, FM100, EMTV, PNG For Realz, and Wisdom Group helped deliver an impactful event.
With the success of the PNG Technology & Innovation Summit 2025, Datec PNG Limited sets the stage for continued innovation, fostering a future where technological advancements drive economic and social progress across Papua New Guinea.
“The summit was a dynamic platform for thought-provoking discussions, inspiring presentations, and groundbreaking ideas, setting a bold foundation for PNG’s technological future,” Datec said.
“We are profoundly thankful to everyone who contributed to this historic milestone and are excited to continue this journey of innovation together.”
Papua New Guinea is attracting Japanese investment interest as Nittetsu Mining Co. Limited explores opportunities in mid-size copper and limestone operations.
In a meeting held in Tokyo, General Manager Shinichiro Mita discussed the company’s plans with Minister for International Trade and Investment, Hon. Richard Maru, reinforcing PNG’s position as a valuable mining destination.
Nittetsu Mining, a company specializing in metallic and nonmetallic minerals, has been a longterm importer of copper concentrate from PNG’s OK Tedi Mine and operates a copper mine in Chile.
Beyond mining, the firm is engaged in machinery development, environmental engineering, real estate, and renewable energy projects.
Minister Maru welcomed the investment interest, stating, "We are looking for more Japanese investors to invest in PNG and we will go all out to support them."
Japan’s Nittetsu Eyes Investment in PNG's Copper, Limestone Sector
Expanding Forestry Investment
He invited Nittetsu Mining to attend the 2nd PNG Special Economic Zone Summit, scheduled for 31 August 31 to 3 September 2025, in Port Moresby, where further discussions on partnership opportunities will take place. Minister Maru also held discussions with Sumitomo Forestry Co. Limited, which operates Open Bay Timber Limited in East New Britain Province, managing a 10,000-hectare eucalyptus plantation. He urged the company to focus on downstream processing rather than exporting raw logs.
"We have a clear Government Policy for PNG to stop exporting round logs by 2025," the Minister emphasized. Sumitomo Forestry acknowledged Indonesia’s recent ban on round log exports, which led them to establish a major processing plant in Java. They
expressed interest in developing a similar facility in PNG, contingent on improvements in electricity supply and road access.
Mr. Maru assured Sumitomo Forestry that discussions with the Minister for Forests and PNG Forest Authority Managing Director John Mosoro would take place to resolve infrastructure challenges.
With Japanese firms expressing interest in mining and forestry investments, PNG continues to strengthen its global investment partnerships, positioning itself for economic growth and industrial development.
“I will discuss these issues with the Minister for Forests and the Managing Director for PNG Forest Authority, Mr. John Mosoro, on my return to PNG. This is a very low-hanging fruit as far as going into downstream processing is concerned,” said Minister Maru.