12/03/2010

Announcement Details

ASX URL: http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=wec#headlines

Summary

White Energy China Limited (a wholly owned subsidy of White Energy Company Limited), has entered into a non-binding Heads of Agreement with Guodian Inner Mongolian Energy Sources Co Limited (Guodian), regarding the development of a coal upgrading facility in China. Negotiation of the detailed project documents remains subject to both parties completing a technical and financial feasibility study, and a subsequent decision to proceed being made by both White Energy and Guodian.

Guodian is a part of the China Guodian Group. China Guodian Group is one of the leading integrated playersin the Chinese coal mining and power generation sector with 70,250 MW of installed thermal power and a controllable coal resource of 15 billion tons with annual coal production of 25 million tonnes.