SHENHUA WATERMARK

Shenhua Australia Holdings Pty Limited and Shenhua Watermark Coal Pty Limited were registered in Australia in October 2008 and are subsidiaries of Shenhua Overseas Development & Investment Co., Ltd, which serves as a global vehicle for outbound investment and project development on behalf of Shenhua Group Corporation Limited (Shenhua Group). The Shenhua Group is one of the world's leading integrated coal based energy companies and the largest coal supplier in the world. The business has a key ... focus on the production and marketing of coal, power generation, railway transportation, port operations, shipping, coal-to-liquids, coal-to-chemicals and employs over 214,000 personnel worldwide. Shenhua's long-term goal is to establish a world leading, comprehensive energy company. International growth is a significant factor in achieving this goal and Shenhua regard Australia, through the Watermark Project as an important part of this process. In October 2008, Shenhua Watermark Coal Pty Ltd (Shenhua Watermark) was granted Exploration Licence (EL) 7223 by the New South Wales (NSW) Minister for Mineral Resources. Since this time, Shenhua Watermark has operated in accordance with the terms of EL 7223, including the payment of $300 M to the NSW Department of Primary Industries (now Department of Trade and Investment, Regional Infrastructure and Services).More