Finders Resources has provided a progress update on the Wetar Copper project in Indonesia, saying the copper cathode SX-EW plant has now plated over 4,800 tonnes of copper cathode with the production ramp up reaching the plant’s nameplate capacity of 25,000 tpa copper cathode on a number of days.
According to the company, operations staff are now aiming to achieve a steady state production rate of 28,000 tpa copper cathode over the coming weeks.
“Plant ramp up has now progressed past the usual fine tuning stages involving equipment performance, reagents addition and power variations,” the company said in a statement.
“It was pleasing that during this phase all cooper cathode was able to be sold at or about LME copper price including a proportion as LME grade A with premium. A majority of the copper cathode now produced is LME Grade A and this will continue to improve as the plant approaches steady state operation.”
Finders said cathode daily production levels have been steadily increasing to be now regularly within 10% of full production.
“Parts of the SX-EW plant have at times achieved and even exceeded their required operating parameters. During the coming weeks it is anticipated that this will occur more regularly until full production is achieved.”
Managing Director Barry Cahill said the company expects the Project to be operating at full capacity during the December 2016 quarter, at which time there will be more visibility on the actual financial metrics of the project including production costs.
“It has been a very pleasing effort from site management now commencing to achieve nameplate production from the 25,000 tonne SX-EW plant,” Mr Cahill added.
“Investors can now look forward to more positive news in the coming weeks as production is stabilised, completing the transformation of Flinders to a significant and profitable copper cathode producer.”
Finders is a majority shareholder (72% interest) and operator of the Wetar Copper Project, which comprises the development, open pit mining and processing of the high-grade sulphide deposits at Kali Kuning and Lerokis, located within 2km of the coast on Wetar Island.