Finders sees Maluku copper project FS completion on schedule despite pilot plant delay

Australian mining firm Finders Resources (FND) reported Friday that initial copper cathode production from the Wetar Copper Project pilot plant is expected to be delayed for two months until late September due to delays in the supply of several key components.

Despite this delay, Finders still expects to complete the overall Wetar Copper feasibility study by December 2008, the company said.

As part of the company?s definitive feasibility study to assess 20-25,000 tonnes per year copper cathode production at the Wetar Copper Project, Finders is currently constructing a semi-commercial scale demonstration plant, comprising a 100,000 tonne bacterial heap leach feeding a plant rated to produce 5 tonnes per day of copper cathodes.

The company has retained Ausenco Services Pty Ltd to review full scale project feasibility study and development schedule, and in particularly, to identify long lead time items which will impact the planned December 2009 commencement of commercial copper production. (denny)