Finders reports higher copper cathode output at Wetar Island plant
Saturday, April 30 2016 - 06:38 AM WIB
ASX-listed Finders Resources Ltd said that copper cathode output at its 3,000-ton per annum copper cathode solvent extraction and electrowinning (SX-EW) plant on Wetar Island, Muluku Province, in the first quarter of this year increased by 15.18 percent to 569 tons from 494 tons in the corresponding period of last year.
The said in a statement Friday sales volume in the first quarter of this year surged to 815 tons from 280 tons in the same period of last year. Average price was US$2.10/lb.
?Ore stacking recommenced on the Gold Pit Leach Pad (GPLP) during the quarter using the original 3kt stacker following the arrival of the new stacker for the Kali Kuning Valley (KKV) Heap Leach Pads,? Finders said in the statement.
It said that copper recoveries from the GPLP were in line with expectations. Limestone irrigation continued effectively and the 3kt neutralization plant continued at full operation.
It added the new crushing circuit was utilized for the majority of the quarter and then shut down in March to enable the commissioning of the new stacker in the KKV. Arrival of the new stacker was delayed and was scheduled for commissioning in April.
The 3,000 t.p.a. SX-EW plant and GPLP have now been connected to the main coastal power station allowing removal of the old temporary gensets.
Finders is developing a 25,000 ton per annum (tpa) copper cathode SX-EW plant as part of the expansion of its copper project on Wetar Island. The new facility is expected to make its first production in the second quarter of this year, the company said in February.
Editing by Reiner Simanjuntak