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
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.