Finders makes first shipment of cathode from Wetar plant
Thursday, May 15 2014 - 02:59 AM WIB
ASX-listed copper producer Finders Resources Limited announced it has shipped its first cathode from its 3,000-ton per annum-capacity copper cathode solvent extraction and electrowinning plant (3Kt SX-EW plant) on Wetar Island, Maluku Province.
The company said in a statement Thursday a total of 102.5 tons has left Wetar for East Java?s Surabaya via Kupang. The 3Kt SX-EW plant is operating at its nameplate capacity of 8 tpd.
The shipment is expected to arrive in Surabaya by the end of May and is expected to be sold shortly thereafter. As a refined product, the export of cathode is not affected by recently announced regulations on Indonesian ore exports.
Finder is an emerging low cost copper cathode producer, developing a high grade 28,000tpa copper mine on Wetar Island in Indonesia, plus a highly prospective, advanced gold-silver exploration project in Sumatra.
Editing by Reiner Simanjuntak