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Distributed: May 30, 2011

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Sydney, May 30, 2011 (ABN Newswire) - Australian stocks opened flat today, with the S&P/ASX200 index 1.6 points lower at 4682.4 and the All Ordinaries 1 point lower at 4759.3.

In early trade, Nikkei 225 lost 0.10% to 9,512.08. Hang Seng Index fell 0.04% to 23109.51 and Shanghai Composite was down 0.53% to 2278.41.

Companies

White Energy Company Limited (ASX:WEC) is proceeding to upgrade certain aspects of its binderless coal briquette plant in Indonesia. Following completion of the engineering modification works, the plant is expected to ramp-up to a full production capacity of one million tonnes per annum by the end of 2011, making it the world's largest coal briquetting plant to upgrade sub-bituminous coal.

Hastings Rare Metals Limited (ASX:HAS) said today that a bulk sample from the Hastings Project in Western Australia has returned significantly higher values for Zirconium, Niobium, Tantalum and Yttrium. The company has scheduled to commence drilling next week to increase the size of the resource and to revise resource calculation in the September quarter.

Hot Chili Limited (ASX:HCH) has successfully completed a private placement to raise A$3.65 million. Funds from the placement are being directed towards additional resource drilling at the company's Productora multi-commodity copper project in Chile. Drilling is expected to grow the size of the resource and to evaluate the potential for a large open pit operation at the project.

Globe Metals & Mining (ASX:GBE) has identified at least 5 zones of significant rare earth mineralisation at Mount Muambe, Mozambique. The Company is planning a 12,000 meter drilling program to begin in early June to explore further significant zones of rare earth mineralisation.


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  Related Companies

>>>           Globe Metals & Mining Limited
>>>           Hastings Rare Metals Limited
>>>       Hot Chili Limited
>>>           White Energy Company Ltd

  Related Industry Topics:

Metals | Energy General | Financial General | Materials General | Mining | Australian Economy | Copper | Rare Earths | Coal | Market Reports | 

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Globe Metals & Mining Limited
2011.11.14  11:50 Asian Activities Report for November 14, 2011: Centaurus Metals (ASX:CTM) Announces Robust Pre-Feasibility Study Results from Jambreiro Iron Ore Project
2011.11.11  11:38 Asian Activities Report for November 11, 2011: Hastings Rare Metals Limited (ASX:HAS) Announces Significant Rare Earth Results at Yangibana Project
2011.11.02  12:00 Asian Activities Report for November 2, 2011: DuluxGroup (ASX:DLX) to Merge Business with Camelpaint for Future Expansion in China
2011.09.26  12:00 Asian Activities Report for September 26, 2011: Globe Metals and Mining (ASX:GBE) Report Significant Fluorite and Rare Earths Drilling Results in Mozambique
2011.05.06  12:00 Asian Activities Report for May 6, 2011: Globe Metals And Mining Limited (ASX:GBE) Announce Virgin Rare Earth Discovery In Malawi
Hastings Rare Metals Limited
2011.11.11  11:38 Asian Activities Report for November 11, 2011: Hastings Rare Metals Limited (ASX:HAS) Announces Significant Rare Earth Results at Yangibana Project
2011.09.08  12:07 Asian Activities Report for September 8, 2011: Encounter Resources (ASX:ENR) Announce Significant Recent Advances at the Yeneena Copper Project
2011.06.20  12:00 Asian Activities Report for June 20, 2011: Hastings Rare Metals (ASX:HAS) To Acquire Yangibana Rare Earth Project In Western Australia
2011.06.10  12:00 Asian Activities Report for June 10, 2011: Integra Mining Limited (ASX:IGR) Record Gold Production Of 7,909 Ounces In May
2010.12.07  13:30 Australian Market Report of December 7, 2010: China Magnesium Corporation (ASX:CMC) Commences Capital Works On China Plant Upgrade

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