November 10, 2008
SYDNEY, Australia, Nov 10, 2008 /PRNewswire-FirstCall via COMTEX/ -- White Energy Company Limited (White Energy (ASX: WEC)) is pleased to announce that it has signed a joint venture agreement with an entity managed by Black River Asset Management LLC (Black River), an independently managed subsidiary of Cargill, under which White Energy and Black River will jointly develop and commercialise White Energy's coal upgrading technology throughout Africa.
SYDNEY, Australia, Nov 10, 2008 /PRNewswire-FirstCall via COMTEX/ -- White Energy Company Limited (White Energy (ASX: WEC)) is pleased to announce that it has signed a joint venture agreement with an entity managed by Black River Asset Management LLC (Black River), an independently managed subsidiary of Cargill, under which White Energy and Black River will jointly develop and commercialise White Energy's coal upgrading technology throughout Africa.
White Energy and Black River will establish a special purpose company (the Company) to be held 51% by White Energy and 49% by Black River. The Company will actively originate, develop, construct and operate coal upgrading plants in Africa either on its own or in conjunction with companies in Africa having access to appropriate coal reserves and/ or power companies looking to increase their energy output. The Company will have the exclusive rights to utilise White Energy's coal upgrading technology on the African continent. Continue...
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