The country’s largest petrochemical company PT Chandra Asri Petrochemical Center (CAPC) will build another naphtha cracking unit this year, with an investment of US$40 million.

The additional facility is expected to increase its installed production capacity for polyethylene from 520,000 tons to 590,000 tons a year. Naphtha is used as a basic material for polyethylene, which is a feedstock for benzene.
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Stingray Resources Inc. is pleased to announce that it has completed the purchase of all of the outstanding shares of Noranda Exploracion Mexico S.A. de C.V. (”Normex”), the owner of the El Pilar oxide copper project located in Sonora, Mexico (See Stingray News Release 2006-01). Part of the proceeds from the recently completed financing totaling approximately $50 million were used to fund the remaining US$17.75 million payable to Xstrata Copper (”Xstrata”). Peter Mordaunt President and Chairman of Stingray states, “With the financing and purchase of Normex now completed, Stingray is in position to start working in earnest at the El Pilar Property. We expect to aggressively advance the necessary work leading up to a feasibility study. We look forward to the challenge ahead!” Read more » »

Malaysia’s dominant power firm, Tenaga Nasional Bhd , has agreed to sell its Indonesian coal mine, marking its departure from the coal-mining sector in the neighbouring country, the firm said on Monday.

Tenaga said in a statement TNB Coal International Bhd’s subsidiary, Dynamic Acres Sdn Bhd, agreed to sell its entire 99 percent stake in coalminer PT Dasa Eka Jasatama to an Indonesian company, PT Pamapersada Nusantara, for $19.5 million.
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Northwestern Mineral Ventures Inc. is pleased to announce additional assay results from rock samples collected during a first-pass reconnaissance exploration of airborne anomalies on its 100%-owned In Gall and Irhazer uranium properties in Niger. Findings reveal the highest levels of uranium mineralization discovered on the properties to date, with values of up to 0.18% U(3)O8. In addition, several samples exceeded the 0.24% U(3)O(8) detection limit in tests that are commonly used to analyze samples from Niger. The above-limit samples have been scheduled for further analysis using a technique that can accurately measure higher uranium values.

“The initial rock sample results, which we reported in early March, confirmed uranium mineralization in one highly prospective area. These new findings include even greater uranium values from a new discovery zone that is situated 4.0 miles (6.3 kilometers) east of the original area of mineralization,” said Marek J. Kreczmer, President and CEO of Northwestern. “Based on results to date, we believe that these two areas are part of a larger mineralized system.”

The new discovery, called the Bingo zone, is associated with a radioactive structural dome that is geologically similar to others that have been proven to host uranium mineralization in Niger. It is favorably located on a fault that contains uranium deposits along strike elsewhere in the district.

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Alberta Star Development Corp. (the “Company”) (CDNX:ASX.V - News)(OTC BB:ASXSF.OB - News) is pleased to announce the results of its preliminary metal recovery tests from samples of uranium, silver, copper, nickel and cobalt tailings from the former Eldorado Uranium & Echo Bay mining operations. The Company has received a report (the “SGS Report”) from SGS Lakefield Research Ltd. (”SGS”), which conducted the mineral processing and metallurgical testing of tailings collected by the Company during the summer of 2006 from the Eldorado & Echo Bay silver and uranium mines. Read more » »

Westmoreland Coal Company announced today that Dakota Westmoreland Corporation’s Beulah Mine has received the Lignite Energy Council’s Distinguished Safety Award for power plants and mines. The Beulah Mine had an exceptional safety record in 2006, completing the entire year with only one lost-time accident. As of December 31, 2006, the Beulah Mine had worked 193 days without a lost-time accident and continues to build on that record having worked 313 days without an accident resulting in lost-time. Its accident rate of 0.71 compares to the U.S. surface mining industry average of 1.53 for 2006 as reported by the Mine Safety Health Administration.
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New York-based asset manager Van Eck Global today launched Market Vectors-Russia ETF, a new exchange-traded fund (ETF) that is listed on the New York Stock Exchange (NYSE). The fund is the first ETF listed in the U.S. that enables U.S. investors to gain exposure to a broad spectrum of Russian companies.
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Strathmore Minerals Corp. (”Strathmore”) is pleased to announce that it has obtained approvals from the Wyoming Department of Environmental Quality (DEQ) Land Division and the U.S. Bureau of Land Management (BLM) to conduct drilling at its Sky Project located near the Gas Hills Uranium District in Fremont County, Wyoming. A drilling contract has been awarded to a Wyoming drilling company and all required bonding is in place. Strathmore will commence drilling activities in May. Funding for the drilling will be provided by Yellowcake Mining Inc. (Yellowcake), which recently agreed to provide up to $7,500,000 in development expenditures over four years to earn a 60% interest in the project (Please see Strathmore’s news release dated April 10, 2007).
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Mae West once said, “I have always felt a gift diamond shines so much better than one you buy for yourself,” but the gift finance minister Greg Sorbara delivered in his budget gleams about as bright as a cubic zirconium.

His diamond mine tax that increases the royalty rate from five per cent to 13 per cent still has us scratching the surface for answers as to why the De Beers’ Victor site near Attawapiskat is getting kicked in the crown jewels when it is contributing so much to the Ontario - and Northern - economy. Read more » »

Paladin Resources Inc. - HIGHLIGHTS

- Langer Heinrich Uranium Project officially opened by His Excellency, President Hifikepunye Pohamba, of the Republic of Namibia.
- Production ramps up to 70% of design capacity, first uranium concentrate shipment delivered to US conversion facility.
- Board approves Kayelekera Bankable Feasibility Study and grants project go-ahead.
- Kayelekera Uranium Project in Malawi gains Government development approvals. Read more » »