Huaneng Group Acquiring Part of the Equity of Monto Coalmine in Australia

On July 28, 2005, China Huaneng Group signed the Monto Coalmine Joint Venture—Trading Agreement with Macarther Coal in Brisbane, Queensland, Australia to acquire 25.5% of the equity of Monto at the cost of 29.423 million AUD, making the first step in the strategic practice of leveraging two markets and two resources.

The acquisition of partial equity interest in Monto coalmine is another major initiative of China Huaneng Group after it acquired the equity of 2 power plants in Queensland, Australia in 2003 as a successful implementation of the “going out” strategy, representing a helpful attempt in more and better use of foreign resources in the future.