4. About Us
Earthstone
4
Accelerated evolution
We are part of a diversified Earthstone Group, involved in
mining, infrastructure, energy and agriculture
Young company, which commenced its operations in
mineral exploration and mining in 2008
Diverse product portfolio comprising bulk
commodities, base metals, precious metals, gemstones
and energy commodities
Extended footprint, spread across 13 countries of Asia and
Africa through various subsidiaries
Extensive explorations remain top on the agenda;
undertaken 31 green field projects (post-exploration)
globally
Widely considered to be among Indonesia’s largest Iron
Ore producers
Established over 200 million tonnes of reserves –
o 179 million tonnes of Iron Ore
o 36 million tonnes of Zinc & Lead
o 10 million tonnes of Manganese
5. About Us
Earthstone
5
Mind and mettle
To contribute significantly to the growth of
Our Vision emerging economies and become world's
premier mining company by 2015
To acquire potential reserves and develop them
into profitable mining assets
Our Mission To maximize value for our shareholders, our
employees and our business and social partners
through safely and responsibly exploring, mining
and marketing our products
6. About Us
Earthstone
6
Living by the code
simple values.
Harmony sensible action.
Create and build a harmonious environment for all team
members, act as a family, and treat all employees as part of it.
Co-existence
There is always enough room for all players to co-exist peacefully and excel.
Honesty
'Be what you are and claim what you know' represents our basic philosophy. We acknowledge
our ignorance, which forms the basis of our strength.
Superiority
Deliver superior products and services to consumers and create superlative experience for our
partners and stakeholders.
Accountability
Act responsibly by delivering ‘a value for money’ product to consumers and stakeholders.
8. Business Overview
Earthstone
8
Our Group
Earthstone Group acts through its various subsidiaries
and joint venture companies by controlling stakes in
them through its offshore group holding company,
Earthstone Holdings Ltd, a BVI (British Virgin Islands)
company.
9. Business Overview
Earthstone
9
Widening operations
Earthstone Resources FZC has a number of subsidiaries through which operations are carried out in Africa and
Asia.
Earthstone Resources FZC
Earthstone
PT Earthstone PT Toaro
ES Resources FZC PT Lamina Interia Resources Africa
Resources Resources
FZC
Trading arm of Exploration Holding mining Holding mining Holding company
Earthstone Iron Ore company focused rights for Zinc & rights for Iron Ore in which acquires
Resources FZC on activities in Lead in Banten, Musi Rawas, various mining
Indonesia, Asia Indonesia Indonesia concessions in Africa
through its local
subsidiaries
Earthstone Resources Zambia Ltd. Earthstone Resources Namibia Pty. Ltd. Earthstone Resources Africa Guinea SARL
Earthstone Resources Mozambique LDA. Earthstone Resources Mali Ltd. Earthstone Resources Gabon Ltd.
Earthstone Resources Burkina Faso Ltd. Earthstone Resources (Tanzania) Ltd. Earthstone Resources Benin Ltd.
Earthstone Mining Resources, South
Africa
10. Business Overview
Earthstone
10
Our products
Bulk
Commodities
Iron Ore Coal Manganese Limestone
Base Metals
Zinc Copper Lead Nickel
Precious Metals
& Gemstones
Diamond Emerald Gold
Energy
Commodities
Uranium
11. Business Overview
Earthstone
11
Our geographically diverse portfolio of operations & projects
Iron Ore Coal Manganese Base Metals Emerald Uranium Limestone Diamond Gold
Indonesia Indonesia Zambia Mozambique Zambia Mali Zambia Zambia Burkina
Zambia Mali Indonesia Faso-
Benin South Africa Zambia Mali
Mali Mozambique Guinea
South Africa
Guinea
Gabon
12. Business Overview
Earthstone
12
Shared philosophy. Global partnership
Independent, international consulting practice
formed in 1974, offering services from exploration
Geology & Mining through feasibility, mine planning, and production
Consultants to mine closure for mining projects.
Worked in more than 150 countries since 1947 as
a consultancy to the mining, environmental,
minerals, engineering and energy industries.
Mining and Geological Consultants, founded in
1943, is one of the largest mining consulting firms
of independent mining consultants, exclusively
serving the domestic and international coal and
mineral industries.
Global provider of key technical and commercial
services for exploration, mining and investment
companies.
Incorporated in 1994, a premier drilling services
Drilling Contractors contractor.
13. Business Overview
Earthstone
13
Milestones & Momentum
Year 2008
Acquisition of our first
Acquisition of first tenement Manganese Ore in Malang, a Cooperation Agreement with
in Indonesia Coal project in Mentewe, two ICML, RPG Group, India to
Iron Ore and two Coal projects in develop Coal mining business
Sumatra
January February March April May June July August September October November December
Incorporation of PT Earthstone Uranium
Earthstone Resources FZE formed
Acquisition of our first Obtained four
Iron Ore project in Nalo Uranium exploration
Baru, Indonesia permits in Niger
14. Business Overview
Earthstone
14
The journey& Momentum
Milestones so far…
Year 2009
Acquisition of 50% interest
in two Iron Ore blocks in
Indonesia
Active participation
Holdings CEO and in disaster relief
Exploration Chairman awarded the NRI effort in Sumatra
started in Niger Institute Exceptional through “Responding
on Uranium Entrepreneurial Achievers to help “and “Adopt a
tenements Excellence Award Village programs”
January February March April May June July August September October November December
Acquisition of Meulaboh First successful First Acquisition of Zinc tenement
Coal tenement production of shipment of (Indonesia)
(Indonesia) Iron Ore in Nalo Iron Ore from
Expansion of Zambian business
Baru Project Nalo Baru
Agreement executed operations – with the
Project
with Rains Group, India establishment of Earthstone
Sale of 25% (Indonesia)
for sourcing of mining Resources (Zambia) Ltd.
economic
projects in
interest stake in Acquisition of exploration rights
Laos, Myanmar and
Banten project for Copper tenement
Indonesia
15. Business Overview
Earthstone
15
Milestones & Momentum
Year 2010
One Direct Prospecting
Licenses has been granted to
Expansion of Earthstone Group for Iron Ore,
operations in and one for Base Metal in
Initiation of Tanzania
Mozambique: Copper, Guinea, West African Region
business in Gold mining
Coal, Lead, Iron Ore
January
January February March April May June July August September October November December
2011
Earthstone’s
Expansion in Mali: Setting up
Rigorous development of plan of
Gold, Uranium, Coal, of Centralised
Manganese project in expansion to
Iron Ore Office in
Mansa, Zambia West African
Burkinfaso for
region -Benin,
West Africa
Sale of additional 25% Burundi,
Operations
economic interest stake Burkina Faso,
in Banten project Guinea and
Gabon for Gold
and Manganese
mining
16. Business Overview
Earthstone
16
Financial solidity
Revenue* (USD million) Net Profit Margin (%)
0 10 20 30 40 50 60 0 10 20 30 40 50 60 70 80
2008 2008
2009 2009
2010 2010
PAT (USD million) Operating Profit Margin (%)
-10 0 10 20 30 40 0 20 40 60 80
2008 2008
2009 2009
2010 2010
Net Worth (USD million)
-20 0 20 40 60 80
Investments worth USD 40 million
2008 made towards operations, including
2009
working capital.
2010
* Sale of economic interest in Banten Project worth 25 Million USD has been included in the revenues of 2009 & 2010
18. Strengths and Strategy
Earthstone
18
Robust realities
Aggressive and fast growing
company
Rich parentage of Earthstone
Group
Diverse product portfolio
Possession of excellent mining
infrastructure
Numerous green field
projects, resources and
reserves
Wide global presence
Logical & well articulated
strategies
Sound financial growth
Experienced management
19. Strengths and Strategy
Earthstone
19
Poised for a big leap
We are transforming present realities through the following
strategies:
Develop small but high-grade precious and base metal
mines
Invest in developing countries (rich in natural resources)
lacking proper infrastructure
Build a group of diversified mining companies through M & A
Fund capital requirements and acquire majority stakes of
local promising companies, supported by first generation
entrepreneurs with business acumen, domain knowledge
and liaison skills
Extend the life of each asset mine by converting resources
to reserves
Employ advanced technologies to achieve optimum mining
efficiency and increase production
Expand operating capital by using cost-effective means to
finance initial operations
21. Our Projects
Earthstone
21
Our projects across stages
Bulk Commodities - Iron Ore
Area (in
Resource Stage Country Location
hectares)
1. Iron Ore Production Indonesia Nalo Baru 465
2. Iron Ore Development Indonesia Musi Rawas 1343
3. Iron Ore Exploration Benin Loumbou - Loumbou 25000
4. Iron Ore Exploration Zambia Chibombo, Kapiri, Mpushi 1192
5. Iron Ore Exploration Mali Bafoulabe, Secteur de Kalari 26000
Majestrial district of Lephalale,
6. Iron Ore Exploration South Africa 10615
Limpopo
7. Iron Ore Exploration Guinea Tinsou, N'Zerekore 22200
8. Iron Ore Exploration Gabon Mont Mbilan 10000
9. Iron Ore Exploration Gabon Milingi 12000
TOTAL 108815
22. Our Projects
Earthstone
22
Our projects across stages
Bulk Commodities - Coal, Manganese and Limestone
Area (in
Resource Stage Country Location
hectares)
10. Coal Exploration Indonesia Kalimantan 5000
11. Coal Exploration Mali Cercle de Menaka, Region de Gao 282500
Majestrial district of Lephalale,
12. Coal Exploration South Africa 7099
Limpopo
13. Coal Exploration Mozambique Tete 19120
TOTAL 308719
14. Manganese Production Zambia Mansa 42074
TOTAL 42074
15. Limestone Exploration Zambia Hoimeyer 1200
TOTAL 1200
23. Our Projects
Earthstone
23
Our projects across stages
Base Metals - Copper, Lead and Zinc
Area (in
Resource Stage Country Location
hectares)
1. Zinc & Lead Development Indonesia Banten 5036
TOTAL 5036
Copper (Primary),
2. Cobalt, Nickel & Exploration Guinea Kobikoro - Faranah, Kissidougou 13300
Silver
3. Copper Exploration Zambia Kasama 99770
4. Copper Exploration Zambia Kasama 99440
5. Copper Exploration Zambia Kasama 17970
TOTAL 230480
Copper, Lead and
6. Exploration Mozambique Manica Province 40420
Zinc
Copper, Lead and
7. Exploration Mozambique Nampula, Muecate Province 66780
Zinc
Copper, Lead and
8. Exploration Mozambique Nampula, Nacaroa Province 90200
Zinc
TOTAL 197400
24. Our Projects
Earthstone
24
Our projects across stages
Precious Metal - Gold
Area (in
Resource Stage Country Location
hectares)
Kaye & Keneiba, Kayes Region,
1. Gold Exploration Mali 13600
Dinndinae
Koulpelogo, Boulgou, Koulpelogo
2. Gold Exploration Burkina Faso 2463100
Province
3. Gold Exploration Burkina Faso Niare, Nayala Province 1515600
4. Gold Exploration Burkina Faso Ramse, Loroum Yatenga Province 1513600
5. Gold Exploration Burkina Faso Tcheriba Bales Mouhoun Province 25000
TOTAL 5530900
25. Our Projects
Earthstone
25
Our projects across stages
Precious Gemstones - Diamond and Emerald
Area (in
Resource Stage Country Location
hectares)
1. Diamond Exploration Namibia Karasburg District, Southern Namibia 19745
TOTAL 19745
2. Emerald Exploration Zambia Kitwe 88
TOTAL 88
Energy Commodity - Uranium
Area (in
Resource Stage Country Location
hectares)
1. Uranium Exploration Mali Kidal, Arafat 175000
26. Our Projects
Earthstone
26
Capability and commitment
Exploration Development Production
27 projects 2 projects 2 projects
Iron Ore projects in Benin, Zambia, Musi Rawas Iron Ore Project, Nalo Baru Iron Ore Project,
1.
Mali, South Africa, Guinea and Gabon Indonesia Indonesia
Coal projects in Indonesia, Mali, South Mansa Manganese Project,
2. Banten Zinc Project, Indonesia
Africa and Mozambique Zambia, Africa
3. Limestone projects in Zambia
Copper projects in Guinea and
4.
Zambia
5. Base metals projects in Mozambique
6. Diamond projects in Namibia
7. Emerald projects in Zambia
8. Gold projects in Burkina Faso & Mali
9. Uranium projects in Mali
27. Our Projects
Earthstone
27
Our worldwide exploration initiatives
Consultancy Type of study Area Ore Time period Findings
2.2 million
tonnes of Gold
IMC-SRG Consulting Reconnaissance Morogoro area,
1. Gold June 2010 with an average
(P) Ltd. survey Tanzania
quality of 4.28
PPM
M/s. CV Mandela, 36 million tonnes
2. IP survey Banten Zinc July 2009
Bandung of reserves
Mozambique,
Due diligence
South Africa and
3. Salva Resources and feasibility Iron Ore & Coal - -
other countries in
study
West Africa
SRK Consulting Pvt.
4. Due diligence Benin Iron Ore - -
Ltd., Kolkata
Iron Ore,
In-house team of
Manganese,
Geologists, Chemists, Geological
5. West Africa Tantalum, Bauxite, - -
Surveyors & Mining investigations
Gold & other
Engineers
deposits
In-house centralized
Geochemical Various Ore
6. laboratory in Burkina West Africa - -
analysis samples
Faso
Institute of 174 million
Iron Ore
7. Technology (IT), Magnetic Survey Nalo Baru Mine Feb-April ‘09 tonnes of
Bandung, Indonesia reserves
8. PT Max Drill Diamond Drilling Nalo Baru Mine Iron Ore Sept'09 to Dec'10 -
28. Our Projects
Earthstone
28
Our worldwide exploration initiatives
Consultancy Type of study Area Ore Time period Findings
IMC-SRG Consulting Reconnaissance Morogo Area,
9. - - -
(P) Ltd Survey Tanzania
IMC-SRG Consulting Report is under
10. Bafoulable, Mali Iron Ore Jan 2011 -
(P) Ltd preparation
IMC-SRG Consulting Reconnaissance
11. Tinsou, Guiena Iron Ore - -
(P) Ltd Survey
Reconnaissance Madekali,
12. Salva Resources Iron Ore - -
Survey Loumbou, Guene
Reconnaissance
SRK Consulting Pvt.
13. survey to start in Burkina Faso Gold - -
Ltd
Feb ’11
29. Our Projects
Earthstone
29
Growth through extensive exploration programs
0 200 400 600 800 1000 1200 1400 1600 1800
Iron Ore
Coal
Manganese
Limestone
Zinc & Lead
Copper
Base Metals
Gold
Existing Operations Expansion Brown Field Projects Green Field Projects
(Reserves & Resources in million tonnes)
31. Our Projects
Earthstone
31
Project snapshot
Estimated
Area (in Mine Life
Project Location Stage Resources Till date status
hectares) (in years)
(in MT)
Nalo Baru, Jambi 700000 tonnes
Nalo Baru Iron
1. Province (Sumatra), Production 465 164 20 produced
Ore Project
Indonesia 1430 meters drilled
Banten Province
Banten Zinc (225 kms from
2. Development 5020 36 30 1048 meters drilled
Project capital city Jakarta),
Indonesia
Musi Rawas, Expected to receive the
Musi Rawas Iron
3. Sumatra province, Development 1150 15 15 production forest
Ore Project
Indonesia clearance by April'11
Mansa
Mansa, Zambia, 10000 tonnes produced
4. Manganese Production 42074 10 30
Africa 3570 meters drilled
Project
33. Management Team
Earthstone
33
Founder Chairman and Chief Executive Officer
” Mr. Shah is a strategic investor across diverse sectors
(telecom, real estate and media), thanks to his deep
insight of global economies. His vision and foresight has
Pankaj N. Shah
”
enabled him to create an attractive bouquet of private
Founder Chairman & Chief Executive Officer equity investments in Indian SMEs.
A multifaceted personality with immense entrepreneurial acumen
An investment banker, entrepreneur, venture capitalist and a financial strategist
One of the foremost advocates of the importance of small and medium enterprises (SME) in global economic growth
Over 19 years of financial experience, combined with experience in the minerals development industry
Received high accolades for running (2005-07) successful investment banking business based in India, but operating
internationally
Mr. Shah is a strategic investor across diverse sectors (telecom, real estate and media), thanks to his deep insight of global
economies. His vision and foresight has enabled him to create an attractive bouquet of private equity investments in Indian
SMEs.
Mr. Shah is currently involved in growing and expanding an international financial holding with a focus on Asia and Africa.
While setting up an entirely new operational matrix in South-East Asia, Mr. Shah executed his skills in mediation and problem
solving. He spearheaded and successfully implemented an ongoing recruitment programme to hire and effectively train all
personnel; was a key creator in development and implementation of improved policies and procedures, resulting in enhanced
efficiency and productivity. His expertise in spearheading a multi-cultural working environment has resulted in high attractive
returns for his endeavours.
34. Management Team
Earthstone
34
Our Organization
Executive Management
Sharata Naik
President
VP Corporate Pandu Ellur Dinesh Kumar VP Human VP VP Business Vladimir Kuznetsov
VP Mining
Finance VP - Finance VP - Legal Resources Explorations Development VP – IR & PR
Govind Swamy
Bhanu Ellur Legal Manager HR Manager Head Buldansyah AVP AVP Quality
Accounts Indonesia - Indonesia - Indonesia Iron Ore AVP - BD Sales Assurance
(Indonesia)
Bharat Thapa Head Ganesh
Legal Manager HR Manager BP Sinha
Admin Indonesia Coal Sunwane QA
- Africa - Africa Arul Rajamani AVP Mining
- Indonesia
AVP - BD (Nalu Baru)
Prashant Shah Head (West Africa) Selva
Accounts & Admin – Base Raju Buchi Kumar QA –
West Africa Metals AVP Mining West Africa
(Banten)
Aditya Chaturvedi AVP - BD QA –
Head Southern
Accounts & Admin – (Indonesia)
Gold AVP Mining Africa
Southern Africa
(Musi Rawas)
35. Management Team
Earthstone
35
Executive Management
Hemanshu Mehta Global Managing Director
Co-Founder of Earthstone Holdings, Ltd.
Entrepreneur with over 10 years experience in Project Management and Government Liaison
A proven leader in operations and strategic directions
Accomplished verifiable success achieving profit, revenue and business growth objectives
Retains an in-depth ability to define and document issues, project objectives, strategies and products, draft project
budgets and related contracts
Has been instrumental in all stages of Earthstone’s development - building strategic business relationships, delivering on
customer commitments and achieving good returns
Raju Lalchandani Managing Director - African Region
Closely linked with transnational African communities; noted expert in African Business
Proven execution expertise in sizeable transactions for multiple clients
In-depth knowledge and vast experience catalyses Earthstone’s African operations
Sharata Kumar Naik Director - Mining
Over 17 years of experience (mining exploration, operations, management and process improvement)
Held top management positions with CHEMAF, DRC; Indo Minerals & Metals, Macedonia; Vedanta Resources, Plc., India
Contributed substantially towards a successful commencement of Earthstone’s mining operations in Indonesia, Zambia
and Tanzania
36. Management Team
Earthstone
36
Executive Management
Pandu Ellur Director - Finance
Chartered Accountant with 8 years experience in Finance/Accounts and MIS
Proven track record for enhancing revenues through effective collection techniques
Well versed with modern accounting systems and experience of working in a computerized environment
Was associated with Oracle, Sharaf Retail Group, Dubai & Bahrain and with various mining companies
Dinesh Kumar Director - Legal
An International Attorney and Head of Legal Affairs in the Group’s legal department
A member of this group, Dinesh is currently representing all of the companies within the group in several countries such
as Indonesia, Dubai, Tanzania, Zamibia, and India. Dinesh is also a member of the Indonesian Advocate Association and is
admitted to practice law in the Republic of Indonesia
Vladimir Kuznetsov Director - Investor Relations
Has diverse knowledge of investment management in multiple operational environments, including joint
ventures, IPOs, start-ups, turnarounds and divestitures
Extensive exposure to cross-cultural practices and international business protocols, particularly in Europe, Africa, Asia
Pacific and North America, through frequent travel and residency; previously served as the President & CEO of
IPORUSSIA, Inc. (a U.S. publicly trading company)
39. Sustainability Initiatives
Earthstone
39
Healthcare
Help improve the health, hygiene and well-
being of people and communities
Our Health Program, ‘Improving the Health
of the World’s Poorest People’ helps
address health issues of the disadvantaged
Environment
Greening the mining vicinity
Conserving energy and water
40. Our Sustainable Development
Earthstone
40
Education
Empowering children and youth through
the following initiatives:
‘Learn, Empower and Lead -
Earthstone Worldwide Scholarship
Program’ is focused on helping poor
bright students to attain higher
education
‘Design Your Child’s Future -
Employee Children Scholarship Grant
Program’ for the employees of
Earthstone Group to select the right
education pattern for their children
‘Shape your Future with Earthstone -
International Internship Program’ for
mining and geology undergraduates
and post-graduates to give them the
unique opportunity to experience the
world of mining on ground and start
their career
41. Our Sustainable Development
Earthstone
41
Disaster relief programmes
Providing basic amenities to disaster victims
globally
Supported earthquake survivors of
Sumatra, Indonesia in 2009 through
‘Responding to Help’ and ‘Adopt-a-village’
programmes
Safety
Promoting a culture of compliance and material risk
management through safety observations and field
leadership, resulting in zero fatalities
42. Earthstone
42
Case study 1:
Nalo Baru Iron Ore Project, Indonesia
43. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
43
Nalo Baru Iron Ore Project
44. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
44
Overview
Location Nalo Baru, Jambi Province (Sumatra), Indonesia
Status Production stage
Acquisition April 2008
Initiation of Green Field Project July 2008
Commencement of mining operations March 2009
First shipment of Iron Ore August 2009
Magnetite Iron Ore reserves (of grade +60% Fe) 164 million tones
Area 465 hectares
Mine life 20 years
License License No 381/2008 for 10 years till 2018
Drilling till date Over 1430 meters
Production till date 0.7 million tones
Annual estimated production in next three years 3 million tonnes per annum
Allocated budget 1 Billion IDR
Investment till date 30 million USD
Gross revenue till date 41.2 million USD
Export markets China, Korea
45. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
45
Other features
Advanced mine site production facilities
Allocated budget of 1 Billion IDR for exploring potential mining reserves in mine area vicinity
30 truck fleets for transportation from mine site to port
Processing plant and quality laboratory constructed
More than 300 employees and contractors
46. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
46
Geological map
47. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
47
Geo Magnetic Anomaly map
Project Area is showing various Mining Blocks
48. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
48
Project terrain
Top Soil (OB)
Siliceous Clay
Ore Body
49. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
49
Magnetic Anomaly map
50. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
50
Detailed Exploration Programme
Over 1430 meters have been drilled till date
52. Case study 1: Nalo Baru Iron Ore Project, Indonesia
Earthstone
52
Mining output & process
Processing Plant
(Bangko) Padang Stockpile
324 kms
Mine (Nalo Baru) Padang Port
34 kms 3 kms
Dry Screening & Stacking of Lumps &
Crushing Fines
Production Calibrated
Ores (+10mm to -
Prospecting 30mm) & Fines Loading of Lumps
(<10mm) & Fines
OB Removal
Drilling / Blasting Quality Monitoring
ROM handling
Dozing
Loading / Hauling
53. Earthstone
53
Case study 2:
Mansa Manganese Project, Zambia
54. Case study 2: Mansa Manganese Project, Zambia
Earthstone
54
Mansa Manganese Project
55. Case study 2: Mansa Manganese Project, Zambia
Earthstone
55
Overview
Location Manza, Zambia, Africa
Status Production stage
Commencement of mining operations January 2010
First shipment of Manganese Dioxide March 2010
Estimated reserves 10 million tonnes
Area 42074 hectares
Quality of Ore 48 to 54% Mn
License License No 381/2008 for 10 years till 2018
Drilling till date Over 3570 meters
Production till date 10000 tonnes
Annual estimated production in next three years 60000 tonnes per annum
Investment till date 2.5 million USD
Export markets India, China
56. Case study 2: Mansa Manganese Project, Zambia
Earthstone
56
Other features
Transformed from a green field to a brown field project
Ambitious exploration programme for conducting Geophysical Survey followed by shallow
diamond drilling to delineate the various ore bodies within the concession areas
Currently, three mining sites are operational
Expected 30-year mine life
30 truck fleets for transportation from mine site to port
Advanced Laboratory is under final stages of construction
200 employees are involved at the sites
57. Case study 2: Mansa Manganese Project, Zambia
Earthstone
57
Geological map
58. Case study 2: Mansa Manganese Project, Zambia
Earthstone
58
Mining operations
Manganese Vein
At the Manganese Stockpile in Mansa
Manganese Noodles
59. Case study 2: Mansa Manganese Project, Zambia
Earthstone
59
Drilled area
We have so far drilled 3570 meters at the four mining concessions: Lumanva, Kasakular, Lubakira &
Fitabolo mines through DTH and Core Drilling till date.
60. Case study 2: Mansa Manganese Project, Zambia
Earthstone
60
Mining process
Serenge Railway
Yard
Dar-e-salam Port
Mine (Mansa) 1450 kms
70 kms
Stacking of Ore
Loading of wagons
Stockyard
(Mansa) Loading for shipment
Prospecting
Open Pit
Excavation 1800 kms
Drilling & Blasting
Manual Stacking
Dozing
Loading / Hauling Stacking of Ore
61. Earthstone
61
Case study 3:
Banten Zinc Project, Indonesia
62. Case study 3: Banten Zinc Project, Indonesia
Earthstone
62
Banten Zinc Project
63. Case study 3: Banten Zinc Project, Indonesia
Earthstone
63
Overview
Location Banten Province, Jakarta
Status Development stage
IP Survey and Geological Mapping in Bandung July 2010
Estimated reserves 36 million tonnes of Zinc and Lead
Concession area 5020 hectares
Zinc and Lead Ore contents 5 to 7%
Drilling till date 1048 meters
Allocated budget 2.5 million USD
64. Case study 3: Banten Zinc Project, Indonesia
Earthstone
64
Other features
Excellent infrastructure facilities (water, electricity, road, among others)
Andesitic Intrusions in Cikotok formation forms the host for Zinc and Lead mineralization
Drilling to be completed by the end of first quarter of 2011
65. Case study 3: Banten Zinc Project, Indonesia
Earthstone
65
Geological map
66. Case study 3: Banten Zinc Project, Indonesia
Earthstone
66
Morphology of the concession area
The concession area, spread over 5020
hectares, is a part of the Gold, Zinc and
Lead mineralization area in Cikotok
It consists of a number of hill ranges
having moderate to steep slopes, and
large volcanic rocks
Mineralization is confined to top portions
of hill ranges
The average MSL is 600-900 meters
67. Case study 3: Banten Zinc Project, Indonesia
Earthstone
67
Geological map & lithology
Regionally, the concession is part of
Cikotok formation (Eocene-Miocene)
known as the main gold bearing
formation in West Java since Dutch
colonialism
The concession is located close to a
very famous gold mine, Cikotok
Mine, and a number of base metal –
related gold prospects take place such
as
Cibaliung, Cikatomas, Ciemas, Pongkor
Three lithological units that have been
identified during the survey comprise
dacitic rock, clay stone and tuff.
Dacite Clay Tuff
68. Case study 3: Banten Zinc Project, Indonesia
Earthstone
68
Estimated reserves
Total estimated reserves of 36 million tonnes
of Zinc and Lead
70. Earthstone
70
Case study 4:
Musi Rawas Iron Ore Project, Indonesia
71. Case study 4: Musi Rawas Iron Ore Project, Indonesia
Earthstone
71
Musi Rawas Iron Ore Project, Indonesia
72. Case study 4: Musi Rawas Iron Ore Project, Indonesia
Earthstone
72
Overview
Location Musi Rawas, Sumatra province, Indonesia
Status Development stage
Annual production target 1 million tonnes
Estimated reserves 15 million tones
Mine life 15 years
Allocated budget 12 million USD
73. Case study 4: Musi Rawas Iron Ore Project, Indonesia
Earthstone
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Other features
Project to be a conventional open pit operation
Mining to commence in the third quarter of 2011
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Mineralization & Resources
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Resources map
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Transverse map
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Forestry map
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Geology & Mineralization map
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Topography map
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Sample chemical analysis
Sample ID %Fe (tot) %SiO2 %S
1. MAJ 01 66.03 4.13 0.11
2. MAJ 02 68.36 2.70 0.15
3. MAJ 03 67.23 4.33 0.13
4. MAJ 04 70.42 0.95 0.02
5. MAJ 05 69.45 1.24 0.02
6. MAJ 016 69.19 1.96 0.02
7. 893 69.13 1.52 0.11
8. TND 15 68.34 1.88 0.02
9. TND 22 70.43 1.66 0.02
10. 885 70.01 1.06 0.05
11. 891 69.23 1.80 0.02
12. 897 70.48 2.28 0.05
13. 907 68.56 2.78 0.02
14. 911 69.98 0.49 0.02
15. 915 69.59 2.09 0.02
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Presence
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