MEDIA RELEASE PR37218
Delegates from MCC & China Power Visit Resourcehouse's Thermal Coal Project
HONG KONG, Nov. 20 /PRNewswire-Asia-AsiaNet/ --
Senior management from Metallurgical Corporation of China Limited and China Power International
Development Limited will visit resource development company, Resourcehouse Limited's thermal coal project,
the China First Coal Project, in the Galilee Basin in Central Queensland tomorrow. Delegates from MCC
include President and Executive Director Mr. Shen Heting, Chairman of MCC Metallurgical Construction
Company Mr. Li Peixun, Chairman of MCC Overseas Mr. Zou Weimin, and Vice Chief Engineer of MCC
Overseas Mr. Yu Zhongliang, as well as other senior management.
Resourcehouse is a resource development company which possesses interests in thermal coal deposits in
Queensland, Australia, magnetite iron ore deposits in Western Australia and South Australia and oil and gas
interest in Western Australia and Papua New Guinea.
Executive Chairman and Executive Director of Resourcehouse Prof. Clive Palmer said "We will further
explore cooperation opportunities with MCC to feed the appetite of the growing China market's strong demand
for resources."
In July 2009, Resourcehouse has entered into a framework agreement with MCC for the China First Coal
Project under which MCC has agreed to be the engineering, procurement and construction contractor for the
construction of this integrated mine, rail and port operation, as well as assist in facilitating debt financing for up
to 70% of project cost. Under the framework agreement, MCC has also agreed to purchase at least 75% of all
coal produced at the operation for the longer of 20 years or the production life of the project.
Earlier on 1 November, Queensland Premier, Ms. Anna Bligh and Treasurer Mr. Andrew Fraser visited the
Company's thermal coal project site. Premier Bligh commented that the coal project is "one of the most
significant projects in the history of the state" after the visit.
Chaired by Prof. Clive Palmer, founder and has been the Chairman of Mineralogy Pty Ltd, who has over 25
years of experience in the Australian resource industry, and track records in successfully executed
agreements with Chinese Government owned companies, Resourcehouse will focus on developing resources
that produce commodities imported by the PRC, in collaboration with China-based companies for supply to the
China market.
SOURCE: Resourcehouse Limited
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