PT Maja Sentana Express - Indonesia

Earthstone Group entered into a joint venture agreement with Indonesia based PT Maja Sentana Express, promoted by first generation entrepreneurs Mr. Mahran Nasution and Mrs. Ferawati Rezeki. Both Earthstone and PT Maja Sentana Express (MSE) floated a special purpose vehicle MSE Earthstone Resources FZC, a Fujairah, UAE-based company to carry out metals and minerals exploration and exploitation business in certain parts of Indonesia. The JV has successfully acquired economic interest in iron ore, coal, manganese and lead ore concessions in certain parts of Indonesia.

RPG Group - India

Earthstone Group entered into a Memorandum of Understanding with Integrated Coal Mining Company Limited, a company promoted by RPG Group of India. RPG Group is one of India’s largest industrial conglomerates comprising of more than 20 companies spanning across many business sectors, including power and coal mining. Integrated Coal Mining Company Ltd. was established in 2002 by CESC with a special purpose of development and production of thermal coal for its power plants. Since that time ICML, with current production of 2.7 million tons, achieved substantial success in its business, covering over 50% of CESC requirements. The company is noted by its implementation of safe and environmentally responsive mining practices. CESC is a 110 years old power utility company working in the Greater Kolkata area that has 4 coal-fired stations of aggregate capacity 975 MW, T&D network of 14,000 ckt. km and a customer base of 2 million. 

Sheikh Rakadh Group - UAE

Earthstone Group entered into a joint venture agreement with UAE-based Sheikh Rakadh Group promoted by Sheikh Rakadh Bin Salem Bin Rakadh. Sheikh Rakadh is an Ex-Chairman of OPEC (Organization of Petroleum Exporting Countries) and Ex-Minister of Petroleum of United Arab Emirates. A special purpose vehicle, Earthstone Uranium FZE was formed to apply for uranium concessions in Niger, Central Western Africa. Earthstone Uranium FZE has been awarded 2 blocks for uranium mining in highly prospective Tim Mersoi Basin in Niger.