The contract outlines the provision of engineering, procurement and construction management (EPCM) services at the expanded 25,000 tonne per annum processing plant and associated infrastructure at Wetar Island.

GR managing director Geoff Jones said the announcement demonstrated the success of the company’s strategy to expand its geographic reach.

The engineering firm’s work on the project will start immediately, and is expected to finish early in the second half of the 2016 fiscal year.

Meanwhile, Finders has also announced the conclusion of financing from Daewoo International Corporation for the Wetar copper plant.

The financing arrangement was struck in August of this year, with Daewoo providing equity and loans worth $45 million in exchange for 24.1% interest in Batutua Tembaga Raya – Finders’ Indonesian subsidiary.

Daewoo’s financial contribution to the project made up part of a funding scheme first flagged in May, which included a further $165 million in loans from BNP Paribas, Commonwealth Bank of Australia, Hong Kong and Shanghai Banking Corporation and Societe Generale.

Shares in GR gained 2.8% to A74c, while shares in Finders dropped nearly 6% to 16c.