Macmines signed a long-term Coal Sales Cooperation Agreement with China Huaneng Group Fuel Co., Ltd

2011/7/12 11:54:21

Macmines and China Huaneng Fuel Co., Ltd both agreed to enter into a long-term collaboration agreement for the coal sales with respect to China Stone Project after friendly negotiation, and signed the agreement today in Beijing.

In terms of the agreement , Huaneng Fuel shall purchase 30 million tonnes coal/year produced by China Stone Project in the following twenty years, and purchase not less than 50% coal product of China Stone project during the time before the project reaches its full capacity.

China Huaneng Fuel Co.,Ltd is the wholly-owned subsidiary of China Huaneng Group, which is a key state-owned company with the approval of the State Council. It is one of top five largest power Corporations in China and the largest Power Group in Asia.

Macmines Austasia Pty Ltd was registered and established in Queensland, Australia in July 1999. Since its establishment, the company has been focusing on geological exploration and mining business in Queensland.