Finders targets first Wetar Island cathode output in 2015

By Ruli Setiawan

ASX-listed Finders Resources Ltd said that the first cathode output from its copper cathode project on Wetar Island in Maluku province, Indonesia, is expected in 2015.

The company said in a presentation material seen Wednesday that construction for the planned 25,000 tpa Cu capacity plant is expected to start in the first quarter of 2014.

Finders said earlier this month that the capital requirement for the Wetar Island copper cathode project may be lower than initially expected following a revised design of the project from double state to single stage SX/EW plant. The company plans to finalize the new bankable feasibility study of the project in October.

The Wetar Copper project comprises of the development, mining and processing of sulphide copper deposits at Kali Kuning and Lerokis located on Wetar Island.

Mining will be carried out by conventional open pit methods initially at Kali Kuning and from Year 3 also at Lerokis with ore hauled from the open pits to the Kali Kuning ROM pad.

Finders has operated a 1,825 tpa Cu demonstration plant on site that incorporates heap leaching, solvent extraction (SX) and electrowinning (EW) in its flowsheet. The demonstration phase of the Wetar Copper Project was successful, significantly de-risking the technical aspects of the project.

Editing by Reiner Simanjuntak