Shenhua Australia Holdings Pty Limited and Shenhua Watermark Coal Pty Limited were registered in Australia in October 2008 and are subsidiaries of China Energy Investment Corporation.
The China Energy Group is one of the world's leading integrated energy companies. China Energy'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 Holdings Australia, through the Watermark Project is 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).
Shenhua Watermark has since completed a comprehensive exploration program, feasibility study and EIS that focused on defining the elements of the Watermark Project.
As a Company, Shenhua Watermark places great emphasis on its environmental responsibilities. This is being demonstrated through the development of the high quality Environmental Management Plans which are currently in the approvals process with Government.
As the Project moves into its construction and operational phases, leading practice environmental management strategies will be employed that will be regularly audited to confirm that optimised conditions exist to proactively prevent and minimise harm to the environment.
Shenhua Watermark places great importance on its commitment to social responsibility and actively seeks avenues to benefit people within the local communities in which it operates by working in partnership with the local community, stakeholders and the Australian Government to, where possible, meet the requirements and interests of these parties.
The company demonstrates this commitment to social responsibility through local employment and contributions to the local economy and has funded a variety of education, health services, indigenous and infrastructure development in the local region.
Shenhua Watermark is well placed to ensure the Project is a success, both environmentally and socially.