Prime Minister James Marape has, on behalf of the Government, received K287,373,637 from K92 Mining Limited, marking the company’s first corporate tax installment for 2026.

The Prime Minister described the development as a positive sign emerging from the Kainantu Mine, noting that since the activation of its mining lease, the company has steadily ramped up operations and is now making significant contributions to the national economy.

He said while K92 has maintained a relatively low profile, its tax payments demonstrate its value as a responsible corporate citizen. Prime Minister Marape noted that although the company has yet to declare dividends to shareholders, its ongoing tax contributions are commendable and well recognized by the Government.

He also extended appreciation to K92 Chief Executive Officer John Lewins, along with the board and shareholders, expressing confidence in continued cooperation between the Government and the company.

Prime Minister Marape further highlighted the company’s Tax Credit Scheme, which supports development initiatives, allocating 1.5 percent to project impact areas, 1 percent across the country, and 0.5 percent to the Autonomous Region of Bougainville. He added that K92 has already indicated plans to support key infrastructure, including developments at the University of Goroka and other projects in Eastern Highlands Province.

The Prime Minister acknowledged the broader contribution of the mining sector and the PNG Chamber of Resources and Energy in supporting economic growth, reiterating that the Government continues to play both a regulatory and participatory role through its equity interests in resource projects.

Meanwhile, Chief Secretary Ivan Pomaleu has been tasked to work closely with the resource sector to address concerns over fuel shortages that could affect operations. He confirmed that meetings with key stakeholders are scheduled for next week, where further details and a roadmap to address the issue will be outlined.