FORM 8-K

                        SECURITIES AND EXCHANGE COMMISSION
                              Washington, D.C.  20549


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Date of Report (Date of earliest event reported) June 1, 2001.


                              HIGH PLAINS CORPORATION

                (Exact name of registrant as specified in its charter)


Kansas                                                               #1-8680
(State or other jurisdiction of                             (Commission File
incorporation)                                                       Number)


200 W. Douglas                                                   #48-0901658
Suite #820                                                     (IRS Employer
Wichita, Kansas  67202                                   Identification No.)
(Address of principal
executive offices)


                                   (316) 269-4310
                           (Registrant's telephone number)






Item 5  Other Information


Wichita, KS, June 1, 2001 -- High Plains Corporation (Nasdaq: HIPC) today
announced that it will retain ownership of its Portales, New Mexico facility
as the agreement to sell the plant to Natural Chem Industries, LLC of
Houston, Texas has expired.

After several extensions, High Plains said that the buyer was unable to
complete the requirements to close the agreement by the designated expiration
date of May 31, 2001.

"We look forward to continuing to own and operate the plant," said Gary
Smith, president and CEO of High Plains, "and are pleased to retain the 14
million gallons per year that it produces during this period of high interest
in alternative fuels.  The current economics in the ethanol industry, with
product prices near historic highs and continued favorable pricing for our
raw materials, have helped Portales to contribute positively to our overall
results during this past fiscal year.  With profit margins expected to
continue favorable for all of our facilities, Portales should add importantly
to our profitability for the foreseeable future."

Based in Wichita, Kansas, High Plains Corporation is among the nation's
largest producers of ethanol.  The company operates facilities in Colwich,
Kansas, York, Nebraska, and Portales, New Mexico.

This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995.  Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including without limitation risks of fluctuations
in feedstock commodity prices, changes in the market prices or demand for
motor fuels and Ethanol, legislative changes regarding air quality, fuel
specifications or incentive programs, as well as general market conditions,
competition and pricing.  The Company believes that forward-looking
statements made by it are based upon reasonable expectations.  However, no
assurances can be given that actual results will not differ materially from
those contained in such forward-looking statements.  Additional information
concerning these and other factors is contained in the Company's Securities
and Exchange Commission filings, including its annual 10-K, Proxy Statement
and quarterly 10-Q filings, copies of which are available from the Company
without charge.






                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


Date:     June 1, 2001                              HIGH PLAINS CORPORATION


                                                    /s/Gary R. Smith
                                                    President & CEO