Dig Deep The Challenges Of Papua New Guinea – with John Lewins
In this episode we chat to John Lewins, CEO of K92 Mining Inc, a gold mining producer with an operating mine in Papua New Guinea. We talk about how the company has progressed, how it has achieved its incredible results, and what plans they have for the future.
We discuss what opportunity challenges and opportunity lie within Papua New Guinea, and how the mining industry can develop in the country.
KEY TAKEAWAYS
- With the low, sustaining costs they have, K92 are generating good cash flow, and next year is predicting cashflow in excess of eighteen million US dollars.
- K92 have exploration on their mining lease, including five diamond drilling rigs; two from the surface and three underground. This allows three thousand a month in diamond drilling from the combined five rigs.
- Papua New Guinea has some of the best geology in the world, but there are three fundamental challenges there:
- Climate - Very high rainfall area.
- Geography/Topography - Many mines are in the highlands or on islands, which makes building mining infrastructure difficult.
- Community - Eight million people speaking eight hundred languages.
- PNG has less than two hundred thousand taxpayers out of eight million people, which means that many people there are subsitence farmers. Land is incredibly important, therefore, and so mining can prove very challenging.
- Jobs are very important. The future is also crucial. Education is highly desirable, and so can prove an effective tool in getting communities on side.
.BEST MOMENTS
‘All of the exploration work we want to do is funded from our own cashflow’
‘We’re looking to take that to five million ounces by Q1’
’We get about eight to ten metres of rainfall per year’
‘Land is incredibly important'
VALUABLE RESOURCES
Dig Deep – The Mining Podcast on iTunes
John will also be speaking at the upcoming IMARC Conference in Melbourne from 29-31st October where he will be giving a ‘Mining Spotlight’ project update on K92 Mining Inc. Dig Deep has partnered with the International Mining and Resources Conference event in Melbourne where global mining leaders connect with technology, finance and the future.
Now in its 6th year, it is Australia’s largest mining event bringing together over 7000 decision makers, mining leaders, policy makers, investors, commodity buyers, technical experts, innovators and educators from over 100 countries to Melbourne for four days of learning, deal-making and unparalleled networking.
All Dig Deep listeners can receive 10% off tickets when you register with the discount code DIGDEEP. Visit the website to purchase your ticket: https://imarcmelbourne.com/
ABOUT THE HOST
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.
Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
CONTACT METHOD
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