Finder Resources (ASX:FND) has commenced work to restart the demonstration plant at its 95%-owned Wetar copper project on Wetar Island in Indonesia.
The first stage of the earthmoving, which is the removal of the spent ore from the original demonstration plant heap leach pad, has been completed.
Work is now focusing on the plant restart and upgrade which will include clearing existing heaps, mining and stacking 140,000 tonnes of copper ore, as well as increasing plant capacity to 3000 tonnes per annum.
First production of cathode is expected in December this year, with production from fresh heaps slated for the March quarter, 2014.
The Wetar copper project is to be a high grade, open pit operation with a mineral reserve of 8.9 million tonnes at 2.4% copper, with a strip ratio of 1:1 and a 25000 tonne per annum capacity.
Capital expenditure of US$132 million is estimated to be recovered within 18 months of mining commencement.
A gold-silver deposit near Finder's Wetar copper was mined by BHP Billiton (ASX:BHP) from 1989 to 1997, and all camp, port, and haul roads remain.
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