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K92 Mining Inc T.KNT

Alternate Symbol(s):  KNTNF

K92 Mining Inc. is a Canada-based company, which is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine, including Blue Lake, in Papua New Guinea. The Company holds the mining rights to Mining Lease 150 (ML 150). Within and surrounding ML 150 is an epithermal vein field consisting of multiple known and highly prospective vein systems: Kora, Irumafimpa, Karempe, Judd, Kora South, Judd South, Mati, Maniape and Arakompa. Mining is focused on the Kora vein system, consisting of two dominant veins and the Judd vein system consisting of four known veins with one vein being mined. There are multiple near-mine infrastructure targets, within the Kora-Kora South, Judd-Judd South and Karempe vein systems.


TSX:KNT - Post by User

Comment by BlindBoyon Feb 16, 2021 9:35am
242 Views
Post# 32571978

RE:Nerve wracking govt visit

RE:Nerve wracking govt visitI have no idea why you interpret this visit as "nerve wracking".  It is the opposite, as it demonstrates that the implementation of the revised MOA is indeed well underway, as "K1 million community projects development funding from K92 Mine Inc" was part of that revision, and has now been executed.

There is a strong tendency for many in the west to blame the indigenous populations for problems that occur on our mining projects in the 3rd world countries, and I've seen many comments suggesting exactly that regarding PNG, when the problem was that of the western company, not the 3rd world country.  For example, I've seen mention of the problems at the Porgera mine and the OK Tedi mine, both in PNG. In both cases, it was the fault of the mining company.
* OK Tedi  -   1999- BHP reported 'major environmental damage'. Discharged 80 million tons of contaminated tailings, overburden, mine erosion into the river, causing widespread environmental & social harm to 120 villages downstream; chemicals from the tailings killed/contaminated fish, animals, & indigenous people; disrupted river flow; contaminated flood plain agricultural plantations. 1300sq_km (500 mi2)

* Porgera  -
Its own internal investigations have revealed that killings, brutal gang rapes and beatings have been carried out by mine security personnel. Barrick Gold, after having denied previous claims of crimes committed at the mine, launched an internal investigation which confirmed the findings

The mine practises riverine tailings disposal, by which processed ore is dumped directly into the local river. This results in an increased sediment loading of approximately 8 million tonnes per year. The mine has two 'Erodible Dumps' – areas where soft waste rock are dumped and the high amount of local rainfall gradually washes into the local rivers. The main concern with riverine tailings disposal as practised by the PJV is the toxicity of the tailings, which contains significant quantities of cyanide, mercury and other heavy elements.

Conversely, K92 has demonstrated excellent adherence to proper and principled business and social practices;  hence the good raport with the gov't and community.
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