HONG KONG- Shenhua Energy Co Ltd (1088.HK: Quote, Profile, Research, Stock Buzz), China's largest coal miner, said on Thursday a wholly owned unit had paid A$299.9 million ($187.4 million) for a coal exploration licence in Australia.

It said in a statement the subsidiary, Shenhua Watermark Coal Pty Ltd, will pay an additional A$200 million to the New South Wales state government if the firm were to be subsequently granted a mining lease. (US$0.625=A$1) (Reporting by Alison Leung)

(Reuters, Nov 20, 2008)