PERTH (miningweekly.com) – The Wetar copper project, in Indonesia, is expected to reach its targeted production rate of 25 000 t/y by the second half of this year, after a $24-million cash injection from new owner Eastern Field Development (EFDL).
EFDL in October 2017 launched a takeover bid for project owner Finders Resources, closing the bid on April 5 this year with a 97.09% interest in the company.
Since acquiring control of Finders, EFDL has been working to resolve the issues at the Wetar project and to increase production and extend mine life.
This process has required some $24-million in funding, and has resulted in the rehandling of some 830 000 t of dumped ore, the acquisition of new crushing equipment, improvements in operating practices and refitting of aeration and irrigation pipework.
The new management has also resolved long-standing access issues with the Wetar community, allowing drilling to start at the Partolang deposit in the last quarter of 2018.