Asian Activities Report for July 29, 2011: Northern Minerals (ASX:NTU) Report Significant High Value Heavy Rare Earth Elements From Browns Range Project
Sydney, July 29, 2011 AEST (ABN Newswire) - Northern Minerals Limited (ASX:NTU) announced exciting initial results from its 10,000m RC drilling program at the Browns Range Project in northern Western Australia. Assay results confirm significant Heavy Rare Earth Element (HREE) mineralisation including 5m at 3.49% Total Rare Earth Oxides. The results are particularly significant because of the nature of the mineralisation found at Browns Range and the strong global HREE demand and prices. The Company will continue the 10,000m RC drilling program to be followed by a diamond drilling program.
Scandinavian Resources Limited (ASX:SCR) has updated global JORC compliant mineral resource to 412.1 Mt at 39.9% Fe for the Kiruna Iron Project in northern Sweden, and the project's updated global JORC compliant Exploration Target now stands at 150-230 Mt at 30-40% Fe. The project also has JORC compliant inferred copper resources of 15.9 Mt at 0.46% Cu. The Company is expected to further update the global JORC Resource in Q4 2011.
Venture Minerals Limited (ASX:VMS) announced a maiden direct shipping ore resource of 2.2 million tonnes at 58% Fe at the newly defined Livingstone Deposit, only 3.5km from the Company's world class tin/tungsten deposit at Mt Lindsay. The Company has also completed a scoping study on the Livingstone deposit which delivered overwhelmingly positive results including over A$90 million in net revenue generated from the sales, with less than A$3 million of up front capital costs.
Australia China Holdings Limited (ASX:AAK) has signed a Memorandum of Understanding with Denzo Group to form a Joint Venture Company in China. The proposed joint venture company will focus on utilising agriculture by-product to generate renewable energy and the development of liquefied natural gas and compressed natural gas for use in transport as a replacement for diesel. Australia China Holdings is intended to raise A$5 million for the new operation.
Indian-based emerging global pharmaceutical company Dr. Reddy's Laboratories Limited (BOM:500124) has signed a Memorandum of Understanding with Fujifilm Corporation (TYO:4901) for an exclusive partnership in the Generic Drugs business for the Japanese market. The two parties will establish a Joint Venture Company in Japan to develop, manufacture and promote competitive and high quality generic drugs utilising both Fujifilm's advanced quality control technologies it has built up through its photo film business and Dr. Reddy's expertise in cost competitive production technologies for active pharmaceutical ingredients and formulations.
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