The 2020 Sustainability Report is available on the K92 website at the following link: https://k92mining.com/responsible-mining/
Environment, Social and Governance Highlights:
- 95% of workforce PNG Nationals with priority hiring from local communities.
- 85% increase in total community investment from
US$655,000 toUS$1.2 million . - Top 3% safety record in the
Australasia region with one lost time incident (LTI). - Major corporate taxpayer in PNG with first instalment paid in
July 2020 , only ~2 years after declaring commercial production. 1.5 million PGK (US$433,500 )COVID-19 Assistance Fund created supporting Papua New Guinea National Government,Eastern Highlands and Morobe Provincial Governments and local communities to respond to the COVID-19 pandemic.- Agreement in Principle on a revised Memorandum of Agreement covering the
Kainantu Gold Mine operation. - 10 million tree program participant supporting Papua New Guinea’s goal of planting one million new trees a year for ten years.
- Strong COVID-19 resiliency through successful implementation of hygiene distancing, testing and quarantine measures in addition to on-site medical staff to protect the health and safety of our workforce and local communities. Vaccination programs commenced on site in 2021.
- Access to clean water expanded to another local community in 2020, ending generations of loading and carting water almost 2km to their communities.
- Developing business and empowering women through Sustainable Agriculture Livelihoods program, employing 75% women and successfully growing new types of crops in the lowlands.
1.0 million PGK (US$285,000 ) contribution to new market in Kainantu to support regional commerce.- 63% of expenditures locally procured since start of operations, supporting the development of long-term sustainable businesses.
- Strong commitment to education, including 50 tertiary education scholarships, financial assistance to the
University of Technology in Lae, PNG, work experience to students and recent graduates, and assisting parents in local communities with primary education enrolment fees.
As part of the sustainability report, K92 completed a materiality assessment, listening to our various external and internal stakeholders to better appreciate what matters to them. This report incorporates their feedback and, more importantly, will certainly influence our efforts going forward. We have also improved the disclosure contained in the report to become our first sustainability report outlining ESG practices and performance in accordance with the SASB Metals and Mining standard. In future reports, we plan on enhancing our disclosure further by introducing additional reporting standards.
It is also worth noting that these accomplishments were achieved during a particularly challenging period due to the COVID-19 pandemic. Our workforce on site has shown tremendous resourcefulness and dedication to ensure the continuity of community projects, maintain environmental commitments while continuously operating and expanding the operation. The support of the Government of
About K92
The Company commenced an expansion of the mine based on an updated Preliminary Economic Assessment on the property which was published in
On Behalf of the Company,
For further information, please contact
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the
Source:
2021 GlobeNewswire, Inc., source