Finders obtains environmental permit for Maluku copper project
Friday, April 9 2010 - 02:53 AM WIB
Finders? managing director Chris Farmer said: ?The award of the environmental permit is a major milestone in the development of the Wetar Copper Project, and is the product of a successful definitive feasibility study, constructive relationships established with our host community over 15 years and the firm support of both the Maluku and Maluku Barat Daya regional Governments in Indonesia.
As our transition from explorer to producer gathers momentum, the environmental approval coupled with the excellent performance of the demonstration plant and current strong copper prices provide a firm platform for expansion of the Wetar Copper Project to its final design level of 23,000 tpa of copper cathode.?
Finders also said the demonstration plant at Wetar achieved nameplate production for the March 2010 quarter. Copper cathode produced was 453 tons, slightly in excess of the 450 ton nameplate capacity for the quarter. This production result builds on the operational experience gained over the past year and provides an excellent platform from which to develop the project to full commercial scale, it said.
Development activities have progressed on schedule during this period. Detailed design for the 7,000 tons per year Stage 1 expansion of the project is planned to be completed in June 2010. The design managers are Brisbane based groups Electrowin and Neubau Engineering who have extensive combined experience in the engineering, design and delivery of copper SX-EW operations.
Various tender inquiries are in progress with Indonesian suppliers and contractors. Stage 2 detailed design based on relocating the Whim Creek plant to Indonesia have commenced and are scheduled to complete in Q4 2010, it added.
Finders have appointed Geoff Hiller as project manager and he will report to Rob Thomson, the executive director of development. (denny)