K92 mine paid K25mil as tax

THE K92 Mining Inc paid K25 million as corporate tax for 2019/2020 following its commercial production.
K92 Mining is the operator of Kainantu gold mine in Eastern Highlands.
Senior vice-president operations Warren Uyen made this known to a Morobe government delegation, led by Governor Ginson Saonu, who visited the project site on Friday.
He said the Covid-19 had also impacted the mine’s operation.
“The Covid-19 measures were taken seriously and the employees now seem to manage it well,” he said.
“Testing and quarantine facilities recognised by the Government (standard) were set up at the mine.”
Uyen said 2020 was a big year for the project with a lot of construction for its infrastructure. The mine got some new equipment last January for its expansion.
Roads were extended to facilitate the big trucks that were brought in and additional accommodation was built to cater for the increasing number of employees.
Since it is an underground mine, they had to drill a lot of holes for better discovery.
Meanwhile, the miner is currently in talks with Mineral Resources Authority on the future of the tailings.
A suggestion is to put tailings back into the drilled hole (underground).