Asset Report

Kainantu Restart gold mine

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16 May 2022

Kainantu Restart gold mine

Report summary

Kainantu gold mine is located in the Eastern Highlands of Papua New Guinea, about 180km west of Lae. Kainantu is a restarted operation that Barrick closed down in 2009 and later sold to K92 Mining, Inc. in 2015. It is an underground mine that boasts high grade mineralisation and utilises longhole stoping as well as cut and fill techniques for its operations. There are multiple vein systems that compose its resource estimates named Irumafimpa, Kora, and Kora North. The mine has a milling capacity of 200,000 tonnes per year which is expected to be increased to 400,000 tonnes. In July 2020, K92 Mining released a new preliminary economic assessment (PEA) that detailed a planned expansion (Kora Stage 3) from 400kt/a to 1Mtpa at the processing facility by the end of 2024. The self-funded expansion is expected to reach a capital requirement of US$125 million.

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  • Summary
  • Key Issues
  • Mining
  • Process

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