An Overview of the Company and Its Operations
K92 Mining Limited is a publicly listed company that owns and operates the Kainantu Gold Mine in the Eastern Highlands Province of Papua New Guinea. The company was established in 2014, when it acquired the mine from Barrick Gold Corporation, one of the world’s largest gold producers. The company has since invested heavily in expanding and upgrading the mine, which has a history of over 90 years of exploration and production. The company’s vision is to become a premier high-grade, low-cost gold producer in PNG and the Asia-Pacific region. The company’s mission is to create value for its shareholders, employees, communities, and stakeholders through responsible mining practices and sustainable development.
The company’s core activity is the exploration, development, and production of gold and silver from the Kainantu Gold Mine. The mine consists of two main deposits: the Kora deposit and the Irumafimpa deposit. The Kora deposit is one of the highest grade gold deposits in the world, with an average grade of 18.7 grams per tonne (g/t) of gold. The Irumafimpa deposit is also a high-grade gold deposit, with an average grade of 8.1 g/t of gold. The company also has several other exploration targets within its large land package, which covers an area of over 400 square kilometers.
The company operates a modern processing plant that can process up to 400,000 tonnes of ore per year. The plant uses conventional crushing, grinding, flotation, and gravity methods to produce gold and silver concentrates. The concentrates are then shipped to smelters in Asia for further refining and sale. The company also operates a state-of-the-art underground mine that employs over 800 workers, mostly from the local communities. The mine uses mechanized mining methods such as long-hole stoping and drift-and-fill to extract the ore from the deposits.
Achievements and Strengths
K92 Mining Limited has achieved remarkable results and success in its operations since its inception. Some of the notable achievements include:
- Increasing the mineral resource estimate for the Kora deposit by 290% in 2019, from 1.65 million ounces of gold to 6.43 million ounces of gold
- Increasing the annual gold production by 131% in 2020, from 82,256 ounces of gold to 189,812 ounces of gold
- Reducing the all-in sustaining cost (AISC) by 23% in 2020, from US$681 per ounce of gold to US$525 per ounce of gold
- Completing the Stage 2 Expansion Project in 2020, which increased the processing plant capacity from 200,000 tonnes per year to 400,000 tonnes per year
- Commencing the Stage 3 Expansion Project in 2021, which aims to increase the processing plant capacity to 1 million tonnes per year by 2023
- Receiving several awards and recognitions for its performance and excellence, such as the PNG Chamber of Mines and Petroleum Award for Outstanding Community Initiative in 2019, the Mines and Money Award for Best Asia-Pacific Mining Exploration Company in 2019, and the OTCQX Best Market Award for Best Performing Company in Mining in 2020
The company also has several key strengths that enable it to achieve its goals and objectives. Some of these strengths include:
- A high-quality asset base with significant exploration potential and resource upside
- A low-cost operation with high margins and strong cash flow generation
- A experienced and competent management team with a proven track record of delivering results
- A committed and skilled workforce with a strong safety culture and work ethic
- A supportive and cooperative relationship with the government, regulators, landowners, and communities
- A responsible and ethical approach to environmental, social, and governance (ESG) issues
Comparison with Other Employers
K92 Mining Limited is one of the leading gold producers in PNG, with a market capitalization of over US$1 billion as of July 2021. It is also one of the fastest growing gold producers in the world, with a compound annual growth rate (CAGR) of over 100% in gold production since 2017. The company competes with other gold producers in PNG and the world in terms of its size, scale, and profitability. However, it also distinguishes itself from other employers in terms of its culture, values, and opportunities. The company offers a range of career opportunities for professionals, technicians, and operators in various fields such as geology, engineering, metallurgy, mining, maintenance, finance, human resources, health, safety, environment, community relations, and security.
The company faces some challenges in attracting, retaining, and developing its talent pool, such as the remote location of the mine, the limited availability of skilled workers, the high expectations of performance and productivity, and the competitive market for talent. However, the company endeavors to overcome these challenges by implementing various strategies, such as:
- Offering competitive and attractive remuneration and benefits packages, including salaries, bonuses, allowances, insurance, and superannuation
- Providing career development and progression opportunities, including training, mentoring, coaching, and succession planning
- Creating a positive and inclusive work environment, including recognition, reward, feedback, and engagement programs
- Promoting a culture of excellence and innovation, including continuous improvement, best practices, and learning initiatives
- Fostering a culture of teamwork and collaboration, including communication, consultation, and cooperation platforms
The company also offers some advantages and benefits for its employees, such as:
- A opportunity to work on a world-class asset with a high-grade resource and a long mine life
- A chance to contribute to the economic and social development of PNG and its people
- A possibility to learn from and work with some of the best minds and experts in the industry
- A flexibility to balance work and personal life through roster arrangements, travel support, and leave entitlements
- A access to modern facilities and amenities at the mine site and the camp
K92 Mining Limited is comparable to other employers in PNG and the world in terms of its performance and growth. However, it is also unique in its vision, mission, and values. The company is guided by the principles of excellence, integrity, respect, accountability, and sustainability in its work. The company is also driven by the values of passion, innovation, teamwork, safety, and community in its culture.
How Wantokjobs.com Can Help
Wantokjobs.com is a leading online job portal in PNG that connects employers and job seekers. Wantokjobs.com can assist K92 Mining Limited with its recruitment needs by using its features, especially in relation to the nature of the company. Some of the ways that Wantokjobs.com can help are:
- Posting job vacancies on its website and social media platforms, reaching a large and diverse pool of potential candidates
- Providing a user-friendly and secure platform for candidates to apply online, upload their resumes, and track their applications
- Screening and shortlisting candidates based on their qualifications, skills, and experience, using advanced algorithms and filters
- Conducting online assessments and interviews for candidates, using video conferencing, chatbots, and artificial intelligence
- Providing feedback and recommendations for candidates, based on their performance, personality, and fit
- Offering career guidance and advice for candidates, such as resume writing, interview preparation, and salary negotiation
- Providing employer branding and marketing services for the company, such as creating a profile page, showcasing its achievements and strengths, and highlighting its benefits and advantages
- Providing analytics and reports for the company, such as applicant demographics, response rates, conversion rates, and satisfaction levels
Wantokjobs.com can help K92 Mining Limited find the best talent for its company, while saving time, money, and resources. Wantokjobs.com can also help the company enhance its reputation and image as a leading gold producer in PNG.
Conclusion
K92 Mining Limited is a vital and valuable company that plays a key role in the mining industry in PNG. The company has many achievements and strengths that make it a successful and profitable company. The company also offers many opportunities and benefits for its employees that make it an attractive and rewarding employer. The company faces some challenges in its talent management, but it is working hard to overcome them by implementing various strategies. The company can benefit from the services of Wantokjobs.com, a leading online job portal in PNG that can assist with its recruitment needs. Wantokjobs.com can help the company find the best talent for its company, while enhancing its employer branding and marketing.
If you are interested in working for K92 Mining Limited, or if you want to learn more about the company, you can visit its official website or follow its Twitter page. You can also check out Wantokjobs.com for the latest job vacancies and career opportunities in the mining sector.
Sources:
https://k92mining.com/awards/ : https://www.pngattitude.com/2020/12/k92-mining-awarded-for-outstanding-community-initiative.html : https://www.pngattitude.com/2019/12/k92-mining-wins-asia-pacific-exploration-award.html : https://www.otcmarkets.com/stock/KNTNF/news/K92-Mining-Receives-OTCQX-Best-Market-Award-for-Best-Performing-Company-in-Mining?id=287765 : https://www.kitco.com/news/2020-07-27/K92-Mining-Inc-reports-record-gold-production-in-Q2.html : https://www.miningglobal.com/top-10/top-10-fastest-growing-gold-producers-world : https://www.thenational.com.pg/k92-mining-ltd-to-increase-workforce/ : https://www.thenational.com.pg/k92-mining-ltd-to-increase-workforce/