Finders to benefit from new Maluku Province spatial plan

By Romel S. Gurky

ASX-listed Finders Resources Limited said that the new spatial plan for Maluku Province would benefit its Wetar Island copper project as the plan rezones almost all the project area as non-frestry land, and which may reduce capital cost and construction time.

The new spatial plan rezones the entire area of the Kali Kuning resource, the processing area for the Wetar project and most of the Lerokis resource as non-forestry land. All of the Meron prospect area is now also zoned non-forestry land, the company said in a statement on Tuesday.

?Since Finders received its forestry permit, the completion of the spatial plan has no longer been required for the project to proceed. However its completion offers a number of potential benefits,? Finders said.

The boundaries of the forestry permit constrained Finders? ability to optimize the project design. The completion of the spatial plan will allow Finders to assess the benefits of:
? Reducing slope angles on the pit and stormwater dams to reduce or remove the need for ground support
? Reducing corners in the valley access road to improve traffic flow
? Use additional areas for waste storage, increasing the usable pad space
? Relocating and increasing the footprint of the power station, fuel storage and workshop
? Potentially centralizing crushing and creating a more efficient services corridor

These modifications will only be pursued if they provide benefits to the project. Finders will announce any changes to operating or capital cost estimates or construction schedule as they are to hand.

In addition, further exploration in the rezoned area including Meron will no longer require forestry department approval, Finders said.

Editing by Reiner Simanjuntak