White Energy announces tender win

Company News

White Energy Company Limited (ASX:WEC) has won a coal exploration permit in Queensland. The tender was one of seven up for application and by applying White Energy has commited to a 4 year exploration program to identify coal resources in an area withing the central Queensland coalfields. White Energy is the exclusive user of a patented briquetting technology known as BCB, developed in part by the CSIRO. The technology upgrades low value coal through a process of dehydration and compaction and is used to add value to mine revenues. However White Energy is not confining itself solely to resources that require the technology. White Energy reported a net loss of $14 million for the half year ended 31 December 2013.