Batutua aims to start copper cathode export next month

PT Batutua Tembaga Raya, a local unit of ASX-listed Finders Resources Ltd, hopes to be able to start copper cathode export next month as the company has completed the trial production of its 3,000-ton per annum capacity mini smelter on Wetar Island, in Maluku, Kontan daily reported on Tuesday.

The paper quoted Batutua Director Herman Seran as saying that the company plans the maiden export at a volume of 250 tons. He added that the company has obtained the export registered status from the Ministry of Trade, and is currently waiting for the export approval letter from the ministry.

Batutua Tembaga Raya obtains the copper raw material from affiliate PT Batutua Kharisma Permai, which operates a nearby 2,773 ha copper mine. The company has spent US$24 million for the construction of the smelter. Total production volume and export until December of this year is estimated to reach 9,000 tons.

The export proceeds will provide cash flow for the company to help finance the construction of a main smelter with a capacity of a 25,000-ton per annum smelter, this portal reported previously quoting a company statement. (*)