Finders: Site for Wetar Island copper cathode plant is complete
Monday, January 19 2015 - 01:16 AM WIB
ASX-listed copper cathode producer Finders Resources Limited said that site for the 25,000-ton per annum copper cathode SX-EW expansion project on Wetar Island, Maluku Province, Indonesia, has been completed.
?Critical earthworks structures have been the focus of works to date, and with productivity having been very good, progress remains on schedule. Of particular importance is the new plant site has been completed and is currently undergoing preloading in preparation for commencement of construction,? the company said Monday in a latest update of the project.
Managing Director Barry Cahill commented ?We are very pleased with earthmoving progress. With the plant site now complete and progress on other critical stages moving ahead in line with expectations, the project construction continues to perform well despite the commencement of the wet season.?
The Bankable Feasibility Study for the Wetar project showed a US$132.4M capital cost (excluding contingency) and first quartile operating costs of US88c/lb Cu. Finders has completed construction and commissioning of the 3ktpa SX-EW plant, which is now producing copper cathode. The new 25,000 t.p.a. copper cathode plant is expected to be online at the end of 2015.
Editing by Reiner Simanjuntak