K92 Mining Announces Suspension of Underground Operations at Kainantu Gold Mine

K92 Mining has reported a temporary halt to underground operations at its Kainantu Gold Mine following an incident on March 10, 2024, which resulted in the death of an employee. The company clarified that the incident, occurring within the mining lease, is considered non-industrial and suspicious, prompting an immediate pause in processing operations for three days, although stockpile processing has since resumed.

Initial investigations by both K92 and the Royal Papua New Guinea Constabulary have led to this classification of the incident, with ongoing investigations supported under the Criminal Code Act and Mining (Safety) Act by the relevant government authorities.

In response to the incident, the Mineral Resources Authority issued a temporary suspension of underground operations on March 13, 2024, via a "Form 29," pending the fulfillment of certain safety audit action orders, including the installation of a collision avoidance system—measures that K92 was already addressing prior to the action orders' issuance. K92 has appealed the suspension, citing procedural and jurisdictional concerns with the Mining (Safety) Act's enforcement, and anticipates a resolution soon.