Finders secures forest permit

By Harry Roy Gunawan

ASX-listed firm Finders Resources Limited said that Minister of Forestry has signed forestry use permit locally known as Ijin Penggunaan Kawasan Hutan that would allow the company to start construction activities at its Wetar Copper Project.

This forestry permit will allow for continued exploration stage activities at Lerokis.

Finders? Managing Director Chris Farmer said ?The release of the forestry use permit for exploration on Lerokis area of Wetar Copper Project is a reassuring signal that government agencies in Indonesia are supportive of the development of the Wetar Copper project?.

The signed permit is a key document which allows for completion of Forestry Department?s assessment of the application for a production ?pinjam pakai? (forestry permit).

He said the bulk of Wetar Copper Project area, including Kali Kuning and Meron, will be rezoned to a non-forestry area by the new Maluku spatial plan, allowing for construction activities to commence.

However, approximately 4 hectares of the Lerokis ore-body will remain with a Production Forest classification and, as such, requires a ?pinjam pakai? to allow access for mining the southernmost portion of Lerokis.

Mining at Lerokis area will not commence until 2016 under the current mine plan and can be delayed further if necessary, he added.

Editing by Adianto P. Simamora