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).
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 has been demonstrated through the implementation of the Environmental Management Plan and Review of Environmental Factors employed to control the exploration and environmental assessment investigations on site. 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, including funding for education, health services, training and infrastructure development. Over the past five years, Shenhua Watermark has invested $5 million into the local community through the Shenhua Watermark Community Fund.
Shenhua Watermark is well placed to ensure the project is a success, both environmentally and socially.