Asian Activities Report for May 30, 2011: White Energy (ASX:WEC) To Finalise Modification Works On World Largest Coal Briquetting Plant
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.
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.
White Energy Company Ltd
Hot Chili Limited
Hastings Technology Metals Ltd
Globe Metals & Mining Limited