PT Golden Energy Mines, Indonesia
In fiscal year 2012, GMR Group, through our overseas subsidiary GMR Coal Resources Pte Limited acquireda 28.5% equity interest of GEMS, a Sinar Mas Group company in Indonesia, which owns the GEMS Coal Assets.

As part of the transaction, GMR has also signed a Coal Sales Agreement in Aug’2011 with GEMS which entitles it to offtake coal for 25 years with the annual offtake quantity steadily increasing from 1 milion tonnes per annum to 10 million tonnes per annum.