Looks Good….

But Do We have enough resources to fuel future growth

There is more than a little bit of Coal in your life than you know of…

Take a hard look

At good old coal – The Black Diamond

Had Coal Not been there …

How easy would have been our lives???

Forests

would have

been

denuded

years ago, as

energy

hunger would

have forced

man to burn

trees ….

The industrial

revolution

that

transformed

the planet

would not

have taken

place

Civilisation as we know it

today, would not have

marched on in the pace that

we have seen…

The power to

transform

societies,

The power to

transform

economies,

The power to

control

destinies,

The power to

hold progress by

its horns would not have been

witnessed

The United

States, the

United

Kingdom,

Germany,

Japan and

Australia

would not

have marched

on the path of

prosperity..

China and India

would have

remained sleeping

dragons and

crouching tigers

Mankind would have

remained in the

quagmire of lost

opportunities

without coal we have darkness, weakness, poverty and barbarism

With coal, we have light, strength,

power, wealth and civilisation,

At Gujarat NRE

We are already doing our bit as a socially conscious corporate citizen.

Not because we were compelled but from an inner urge to be

the most energy efficient,

nature friendly entity.

Our Windmills

Generate clean, green energy

87.5 MWs

(we even earn carbon credits

while doing this)

Our Coke Oven batteries

Use the waste heat to generate more power

thus, earning Carbon Credits using Coking Coal

Our Coke Ovens are emission free

Our Establishments Have green belts

around them so that the fragile eco

systems we operate in are well maintained

We practice rain

water harvesting

so that water

levels are

maintained and

refurbished

The threat to the environment

Is from thermal coal and

petroleum derivatives

Burning of which causes carbon

emissions

As in

Thermal power plants

Transportation

We do neitherOn the contrary, we

deal in the greenest

variety of coal –

COKING COAL

It is the diet version and

earns carbon credit by

generating power

while being converted

to COKE

WHO ARE WE?

Gujarat NRE Mineral Resources Ltd (GNMRL) is

the fountainhead of Gujarat NRE Coke Ltd

(GNCL) – the 4th Best Performing Stock of the

Decade

GNMRL holds controlling stake in GNCL and is

also focused on oil and gas exploration in

Australia

THE BACKGROUND

“Gujarat NRE Mineral Resources Limited” was mainly engaged in thebusiness of trading in coal, coke and processing coke upto thefinancial year 2007-08

In the year 2008-09, various group companies were merged with theCompany resulting in transfer of all assets and liabilities of thetransferor companies

Consequently, the Company owns the controlling stake of 34% oftotal equity capital of Gujarat NRE Coke Limited, the flagshipcompany of Gujarat NRE Group, and is presently the financial patronof the Gujarat NRE group

In the financial year 2006-07, the Company had begun its quest foroil & gas by acquiring two onshore exploration blocks through itsAustralian Subsidiaries covering an area of 10640 Sq. Km. in thehighly prospective Central Canning Basin in Western Australia

OUR STRENGTHS

Largest petroleum exploration block owner amongst the

Indian companies venturing in Australia

Primarily focussed on resources in Australia and has one the most

lucrative Resources Investment opportunities across the globe.

Being an unlisted company GNMRL still has a shareholder base of over

12000 valued shareholders.

As per recent publication by Department Of Mines and Petroleum, Western

Australia, onshore Canning Basin is an area with huge potential for

petroleum industry expansion and we are very lucky to be at the right

place at the right time.

Holds a substantial chunk and is the main Promoter Company of Gujarat

NRE Coke Limited (GNCL), the flagship company of Gujarat NRE Group.

Having a strong capital base of around Rs. 477 crores

Category % of Holding

Promoter 93.60

Non-Promoter 06.40

Total 100

SHAREHOLDING PATTERN (GNMRL)

Promoter

Non-Promoter

GNMRL

33% of Gujarat NRE

Coke Ltd

Gujarat NRE Oil Ltd

90% of oil blocks

38% of NRE Metcoke

(Present Capacity -

0.156 MTPA to be

increased to 1 MTPA)

Coke Plants

Present Capacity - 1.25 MTPA

Future Capacity- 3 MTPA

Steel Plant

(0.311 MTPA capacity)

Wind Power

(87.5 MW)

Gujarat NRE Coking Coal Ltd

2 hard coking coal mines (over

560 MT of resource) in

Australia

GNMRL – Creating a Resource Powerhouse

Waste Heat Power Plants

of 60 MW

( Under implementation)

OUR OIL & GAS

EXPLORATION BUSINESS

The Company had diversified its activities in the year 2006-07 by

entering into oil & gas exploration sector through strategic investment in

overseas entities. GNMRL had floated 100% wholly owned subsidiary

viz. NRE Resources Pty. Ltd. in Australia and step-down subsidiaries

including Gujarat NRE Oil Ltd.

GNMRL has obtained through its subsidiaries in Australia two

prospecting onshore exploration licenses in the highly prospective

Central Canning basin region of Western Australia covering an area of

10640 sq. kms. The onshore Canning Basin is the most under explored

area and holds huge potential for industry expansion. This basin has a

proven petroleum system with producing wells in the near vicinity

towards north and south directions of the blocks EP457 and EP458

Till date, we have re-processed more than 1800 line Kms. of 2D seismic

data for both the blocks.

OUR PRESENCE IN AUSTRALIA

We are excited to be the largest oil exploration block

owner amongst Indian companies venturing in Australia

0

2,000

4,000

6,000

8,000

10,000

12,000

Gujarat NRE Mineral Resources Limited

Reliance Industries Limited

Oil PSU's Consortium

Permit Area (sq.kms.)

(GSPCL, HPCL, BPCL, GAIL & OILEX)

Source: www.livemint.com

Western Australia (WA) boasts of $16.4 billion booming

petroleum sector

WA currently hosts more than 3681 billion cubic meters

(130 trillion cubic feet) of discovered gas reserves

Major parts of the state is still under explored

WA accounts for 71% of Australia‟s gas production and

66% of oil and condensate production.

As per recent publication by Department Of Mines and

Petroleum, Western Australia, onshore Canning Basin is

an area with huge potential for petroleum industry

expansion and hence ..

We are at the right place at the right time!

CHRONOLOGY OF EVENTS AND JV WITH

REY RESOURCES

Rey Resources applied for the exploration blocks in

September 2004

Gujarat NRE Oil Ltd. (GNOL), a subsidiary of GNMRL

went for Joint Venture with Rey at Participating Interest;

Rey 10% and GNOL 90% in August 2006

GNOL completed the desktop studies and collection of

geophysical, geological and petrophysical data from

DOIR in September 2007

Exploration Licenses were allotted for a period of six yearsstarting from October 2007.

Prospectivity evaluation of the blocks were done by SamitSpectrum Eit Pvt Ltd under the supervision of experiencedGNOL team.

Samit Spectrum is a joint venture with Spectrum Energyand Information Limited, U.K.

The job was carried out in Samit‟s (JV SPECTRUM,UK)analysis centre in New Delhi, India and was completedwithin the 1st year i.e. within October 2008

GUJARAT NRE OIL LTD –

CONVENTIONAL OPPORTUNITIES

Exploring for petroleum in

one of the most

prospective and still under

explored sedimentary

basins in the world, the

Canning Basin.

Centrally located

exploration blocks EP457

& EP458 with combined

area of 10,646 sq kms.

Multiple geological formations

of conventional petroleum

generation and accumulation

present within the area

Appropriate thermal maturity

and presence of oil window

indicating possible large

reserves of petroleum which is

supported by oil & gas shows

in the existing drilling results

GNOL – CONVENTIONAL OPPORTUNITIES

THE CANNING BASIN

Introduction

Canning Basin of Western Australia occupies about

506,000 km2, of which 430,000 km2 are onshore.

http://www.ga.gov.au/oceans/ea_OnsCanning.jsp

Only 250 wells have been drilled and 78,000 line-km of 2D

seismic shot in the basin

http://www.ga.gov.au/oceans/ea_OnsCanning.jsp

Analogous to Palaeozoic basin of proven oil fields of North

America, North Africa and Russia

Combined area of the two blocks ~ 10,640 Km².

The two blocks are surrounded by a nos. of recent

petroleum discoveries.

Proximity to the Great Northern Highway.

Proximity to the Broome and Derby Ports.

WORK IN PROGRESS

As of today, we have completed our „Phase I‟ i.e. year 1 &

year 2 commitment of work well within the time schedule.

PHASE 1

Year Work Program

Year 1

Oct 07- Oct 08

Geological and geophysical evaluation of hydrocarbon

prospectivity

Developed G&G data library.

Year 2

Oct 08-Oct 09

2D seismic data reprocessing and interpretation.

Well log interpretation & seismic to well tie.

PHASE 2

Year Proposed Work Program

Year 3

Oct 2009- Oct

2010

New 2D/3D seismic data acquisition

Year 4

Oct 2010- Oct

2011

New 2D/3D seismic data processing & interpretation.

Year 5

Oct 2011- Oct

2012

Drilling of exploratory wells based on the 2D/3D

seismic survey results.

Year 6

Oct 2012- Oct

2013

Final analysis and reserve estimation.

SUMMARY OF ENDEAVORS SINCE OCT 2007

Successful running of seismic data on Landmark‟s „ProMAX‟ software

for the processing phase and Halliburton‟s „GEOGRAPHIX‟ is used for

the interpretation phase of the project along with supporting software

GEOSCAN, WELLSCAN, ZEH and SPA.

The targets for the Year-1 has been achieved satisfactorily

Reprocessed 106 lines resulting in 1813 line km of 2D seismic data

since Oct 2008

Petrophysical evaluation of 14 wells since Oct 2008

Interpretation of the combined data finalized

Total incurred cost by NRE, $0.8 million till date approximately

Gujarat NRE Coke Ltd Largest Independent Met Coke Producer in India

Gujarat NRE Coke Ltd Largest independent producer of Metallurgical Coke in

India

Profit earning and dividend paying company withstrong financials and credit rating of AA- for longterm borrowing and PR1 for short term borrowing.

Listed on the BSEand NSE, with amarket capitalisationof around $ 1 billion(No. of shareholders1,60,000)

Flagship company of Gujarat NRE group

Met Coke capacity 1.25 million tons, being increased to4 million tons by 2014/15 with setting up of greenfield/brown field plants in Gujarat, Karnataka andAndhra Pradesh.

The first Indian company to have acquired captivecoking coal mines in Australia.

The only IndianCompany to haveexported LAMCfrom India (toArgentina, Brazil,South Africa &Europe)

GNCL OPERATIONS…

HARD COKING COAL

(NSW, AUSTRALIA)

RESOURCES 574 MMT

LOW ASH

METALLURGICAL COKE

1.25 MMTPA

Gujarat NRE Coking Coal Ltd

(ASX: GNM)

NRE NO. 1 – 316 million tonnes

NRE Wongawilli – 258 million tonnes

STEEL UNIT

TMT BARS : 0.311 MMTPA BHACHAU UNIT0.324 MILLION MTPA

KHAMBALIA UNIT0.358 MILLION MTPA

(Leased)

DHARWAD UNIT0. 324 MILLION MTPA

Waste Heat Recovery

Power Plants

Khambhalia* 15 MW

Bhachau* 15 MW

Dharwad* 30 MW

Total 60 MW

Wind Power 87.5 MW

In Australia In India

Coal Washeries

Khambalia 0.75

Bhachau 0.75

Dharwad * 0.90

* Under implementation

DHARWAD UNIT0.25 MILLION MTPA

Sl.

No.

Particulars % of

Holding

1 Promoter Group 46.46

2 Banks, FIs, Mutual

Funds & FIIs

32.79

3 Indian Public and others 20.75

Total 100.00

Listed on BSE & NSE

Script Code: BSE – 512579; NSE - GUJNRECOKE

ISIN no. - INE110D01013

Face Value : Rs. 10 per share

Market Capitalization: Approx USD 1 Billion

SHAREHOLDING PATTERN

Promoter Group

Banks, FIs, Mutual Funds & FIIs

Indian Public and others

BONUS HISTORY

Financial Year Bonus Ratio Record Date Allotment

1995/96 11:10 26 Nov 1996 23 Dec 1996

2001/02 1:2 30 May 2003 16 Jun 2003

2002/03 1:2 21 Apr 2004 30 Apr 2004

2003/04 1:1 10 Feb 2005 12 Feb 2005

2004/06 1:1 30 Sep 2006 18 Oct 2006

2007/08 2:5 20 Oct 2008 31 Oct 2008

2009/10 1:10 7th May 2010 10th May 2010 (B equity DVR shares)

Delivered over 100% Compounded Annual Return to an investor

LONG TERM NRE SHARE PRICE COMPARED WITH NIFTY

(ADJUSTED FOR BONUS ISSUES)

0

1000

2000

3000

4000

5000

6000

7000

March'04 March'05 March'06 March'07 March'08 March'09 March'10

GNCL Price (Bonus Adjusted)

NIFTY

Gujarat NRE has outperformed the NIFTY in last 6 years

(March 2004 to March 2010)

GROWTH PLAN – METCOKE PRODUCTION FOCUS

0.13 0.240.50

0.68 0.68 0.68

1.061.25

2.25

4.00

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

20

01

-02

20

02

-03

20

03

-04

20

04

-06

20

06

-07

20

07

-08

20

08

-09

20

09

-10

20

11

-12

20

14

-15

PRODUCTION CAPACITY (MMTPA)

Achievements Rated one of the top 10 company by 10-years profit

performance in the latest edition issued by Business

Today on India‟s Most Valuable Companies

Identified as the 4th best stock of the decade (CAGR

wise) in the latest edition of Times of India, others being

Unitech, Aban Offshore, Sesa Goa

Strong focus on the Environment with ISO 14001:2004 &

OHSAS 18001:1999 certification

Received several awards as Super performer, Highest

wealth creator, identified as 3rd Best Performing Mid sized

company by Business World , environment & safety by

various media houses

45

Ranked 7th by 10 year Profit Growth

What is the India Story?

TIGER, TIGER BURNING BRIGHT….Indian Economy is set to be one of the fastest

growing in this decade

Robust Manufacturing GrowthAfter an intermediate slowing down in manufacturing, IIP is seeing a steady climb in recent months

0

2

4

6

8

10

12

14

16

18 IIP % growth

For the economy to clock 8-10% growth, manufacturing sector needs to grow by at least 12% - last six months it is on target

GDP Composition: 1990-91 versus 2007-08

1990-91

32%

27%

41%

Agriculture Industry Services

2009-1015%

28%

57%

GDP composition is undergoing change

Share of Manufacturing and Services is on the rise

India has huge untapped market potential……..to be ignored by anyone at his own peril

Source : McKinsey Global Institute

India’s middle classconstitutes 50 millionpeople at present.Likely to go up to 583million people by 2025

Households that canafford discretionaryspending likely to goup from 8 million atpresent to 94 millionby 2025

Middle Class is on the rise…

42

25

6

5

12

10

3

3

8

11

17

20

2

6

5

9

713

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2005 2025

Share of Average Household Consumption

Food, Beverages, and Tobacco Apparel Housing Utilities

Household Products Personal Products & Services Transportation

Communication Education & Recreation Health Care

Discretionary Expenditure

(52%)

Necessities(48%) Necessities

(30%)

Discretionary Expenditure

(70%)

Coupled with it is demographic dividend and growing consumption levels

Size of 15-59 age group

in 2007 (in million)

Size of 15-59 age group

in 2050 (in million)

Growth of 15-59 age

group ( in million)

India 696 1020 324

United States 191 225 34

Japan 76 45 -31

Germany 50 36 -14

United Kingdom 36 36 0

France 37 35 -2

China 895 755 -140

77

104

153

225

326

562

0 100 200 300 400 500 600

2004

2005

2006

2007

2008

2009*

*Upto 31st Dec 2009

6.3 7.28.5

9.711.1 10.9 11.2 11.4

0

5

10

15

2002-0

3

2003-0

4

2004-0

5

2005-0

6

2006-0

7

2007-0

8

2008-0

9

2009-1

0*

Telecom subscriber base (in millions) Automobile production (in millions)

Source: United Nations

WE Break the Shackles of Corruption

Uproot the seeds of Distrust

ForgeUnity, Harmony Peace & Brotherhood

The confidence exuded would not fructify unless

MOST OF OUR YOUTH

(even those who have

not seen the

license/permit/quota Raj)

DON‟T KNOW WHY WE

ARE THE WAY WE ARE

We inherited a partitioned India as a slave’s legacy with corruption packaged free – with shackles in

the mind for next 50 years

WE SHOULD make an ENDEAVOUR to...

• Inculcate a feeling of patriotism &

good nation building

• Develop right

value system &

ethics

• Respect and

practice ethical

behaviour

Indian consumerism

was less impacted by global crisis

But got affected with every bomb blast

….AND…

26th November, 2008Was the last nail in the coffin

When malls became empty, cinema halls running blank and

five star hotels & restaurants looked like graveyards

Indian Economy in 2008 suffered more due to terrorism than the global crisis

Its the small bribe that “we” pay

That lets them buy the

guns that are trained on us

The

Hawala

route that

we take

To evade a few Rupees … is used

by them to finance their

operations around the world

No amount of security apparatus system can ensure safety against terrorism unless we tackle corruption and poverty

Eradication of street level corruption should be the prime objective

Multiple leakages in any poverty eradication scheme due to the inherent corrupt system leads to less than 10 % of the amount reaching the target

India remains a poor country despite so many rich people

We must look inside and start by giving

ourselves a better system, well within the

limits as set out by the founding fathers

Tax and Revenue system

needs to make the

Hawala route

uneconomic and

Evasion meaningless

and Corporate India can take this initiative

Let us adopt a NO BRIBE stance

Let each of us ingrain this in our corporate ethos

AND

Flaunt the “NO Bribe” logo in all facilities

Only moral integrity

Can make India secure from inside

And strong enough to face threats from outside

In the words of Prof C K Prahalad:

• Human Development is not More Resources but less Corruption in Deployment of Resources

• Good Governance ( less corruption) leads to High Levels of GDP/Capita; not the other way around

• Focus on Human Development (Focus on Individuals) and not Groups’ Rights leads to Rapid Economic Development (GDP/Capita)

Corruption Affects Poor the Most

Government incurs losses worth

Rs.16,000 crore due to pilferage in PDS

every year

As per the Planning Commission

Report only 30% of social spending

reaches the target recipient

All the money spent till date on social

sector if had reached to the intended

beneficiary, India would have been rid

of poverty long ago

Transparency in Implementation…

Implementation of social schemes and

avoidance of pilferage

Increase mass purchasing power – tackle

corruption and pilferage in Government

spending reaching the intended

beneficiaries

Need to set up monitoring and

implementation agency for all government

spending and social schemes.

The next few decades would be the India story

We are the protagonists - unfolding this play

Over the next 10 years• India will continue to add to her steel

making capacities

• Japan will be overtaken within 2015-16

• Even the most conservative estimates

aim at a whooping 3 fold increase from

current levels

• India’s growth is demand led as

opposed to export fed

• The growth will be much stable and less

susceptible to external conditions…

Per capita consumption of steel

• India 2001 – 26.8 kg

• India 2010 – 55.2 kg

• Germany – 464.4 kg

• USA – 353.9 kg

• China – 307.3 kg

• Brazil – 114.6 kg

• World average – 194.2 kg

India drags the current World average down from 230 to 194 kg

The New Era of steel making dawned in 1947

India had three units

Two of them in the Private Sector (TISCO & IISCO)

Total Capacity 1 million tons

China too had almost similar capacities …

(one million ton in 1949)

It took China 47 years

to commission its first 100 million tons of steel capacity

5 years to commission the next 100 million tons

And

A mere two years to score its triple hundred.

The rest is history!

Bottom Line

• Indian prosperity is on auto pilot

• Can’t do without government. But governance

reform will take time, till middle class is

dominant.

• Human capital will continue to flower based on

private initiative, and drive the nation

India has law, China has order

-India got democracy before

capitalism and this has made all the

difference

-It will be slower than China but its

path will be surer

-India more likely to preserve its

way of life

Steel Development Pattern

• India’s long term steel development pattern is similar to most countries, following the same pattern of more than a century old

China has already reached its peak in growth rate, while India

is on the rise…..

Indian Steel Expansion in Pipeline

Company Existing Total capacity in 2011-12 Total capacity in 2019-2020

SAIL 12.8 20.7 60

RINL 2.9 6.8 10

TISCO 5 16.5 33.5

ESSAR 4.6 8 20.5

JSW 4.1 11 31

JSPL 2.4 10.5 26.5

ISPAT 3 5 17

POSCO - 6 12

Arcelor-Mittal - 5 24

Bhushan Power 1.2 4 7

Bhushan steel 0.6 6 9

Others 22 28.5 42.4

Total 58.6 128 292.9

The world’s who’s who of steel making are waiting :

• Arcelor Mittal, the world's largest steelmaker, plans to set up two greenfield steel projects in India each with a capacity of 12 million tonne per annum (mtpa).

• Acerinox SA, the world's second-biggest stainless steelmaker, is joining hands with Japan's Nisshin Steel to build a steel plant in India.

• Tata Steel, the world's fifth largest steel maker, plans to double its capacity by 2015, by adding another 35 mt capacity.

• India's largest steel manufacturer SAIL is planning to increase its annual production of 12 mtpa to 24.98 mtpa by 2011-12.

• Sinosteel Corp, China's second- biggest iron ore trader, plans to invest US$ 4 billion to build a 5 mt greenfield steel plant

• Posco is already in Orissa.

Factors of Production

• There is a global shift of steel making facilities

to its natural habitat – and India has it all :

• A legacy of steel making

• Abundant raw materials including Iron Ore

• Low cost economy with quality manpower

• Democratic framework with entrepreneurial

abilities

• Internally generated funds – thriving stock

market

• Economy on the growth multiplier

• Opportunity in low per capita consumption

Ports

Vessels

Material handling facilities

Roads

Railways

Road – rail linkages

Ancillaries

Trained manpower,

including skilled labour

All resources can be mobilised in the medium term

Only villain in this love story

• Is good quality coking coal

• Even at 100 mt, India will need about

70 mt of hard coking coal

• China cannot and will not feed this

demand

• Sources like Mozambique are

untenable

• Other countries in Europe and

America are neither cost effective

nor viable logistically

Potential sources :

Established : AustraliaCanadaUSAChina

Emerging : MozambiqueIndonesiaSouth African Nations

Mainly in the prospecting license stage

Reserves have to identified and established

Huge investment in infrastructure required

Before mining can actually commence

Mozambique, Botswana, other African sources

Note as opposed to a steel plant being set up in 2-4 years time, setting up a mine will require 6 – 8 years

which means, 10 years to get the coal flow)

Coal Criticality

• India does not have enough coking coal to sustain her steel dreams

• She has to depend on imports – coke from China and coking coal from Australia

• Other potential sources, like Mozambique are untested and about a decade away from commercial viability

We were quick to evaluate……

AustraliaHas all the coking coal that INDIA Needs

- Huge potentials- Short term Bottlenecks

notwithstanding

We went there to procure raw

materials

Identified the

immense

potential

And became

proud and

happy owners of

hard coking coal

mines

We bought

The coking coal mines, once the world energy giants like BHP-Billiton and Shell thought worked-out and not worth keeping

These century old mines

Have been transformed into new mines and have become one of the prime coking coal assets of NSW

A glimpse of the past & present

Old Portal (est. 1887) located at NRE No. 1

Current Portal in use atNRE Wongawilli

Activity Year

Acquired NRE No1 mine Dec 2004

Acquired Avondale mine June 2005

Re opened NRE No1 mine Sept 2005

ASX listing raising a total of $22m July 2007

Wonga mains project commenced to access Wongawilli seam Sept 2007

Acquires ASX listed Gujarat NRE Resources – Avondale/Huntley Dec 2007

Completes acquisition of Elouera colliery from BHP Dec 2007

Start of Wongawilli colliery (Elouera & Avondale consolidated as

Wongawilli)

April 2008

Production from both the mines reaches nearly 1 million MT March 2009

Start of long wall at Wongawilli mines August 2009

Target Production 2.4 MT FY 10-11

Our Journey Down Under

Australian Experience:

• Govt. Support

• English Language

• Logical Commonwealth based

laws

• Efficient Banking System

• Friendly Informal people

Govt. Support for Foreign

Investor:

- Invest Australia - AUSTRADE

- NSW Premier’s Department

- Department of Mineral Resources

- Clear Set of rules for FIRB

approval

- Transparency in Systems

- Ease of Access

- Fast Track approval for

acquisition

-

We plucked the thorns that came our way to be where We Are Today

The journey was not through a bed of roses

Overcame Challenges

• We had the baggage of an old mine

• Low confidence among stakeholders

on revival and making it operational

• Availability of skilled local manpower

• Coming from a different country, we

had to adapt fast:

– understand the dynamics of local

business

– understand the people and their

sentiments

– and then listing the company in ASX

We embarked on an action plan:

• Improve workplace behaviours, safety and welfare

• Build a workplace safety culture

• Pass workplace safety ownership back to the workforce.

• To re-establish the mine as a productive mine

• To create a management system to support

the business needs.

• Comply with legislation by

establishing standards, consultation

arrangements & embedding

effective safety systems;

• Turning old mines into modern, safe, fully

operational and highly productive mines;

• Providing safe and healthy working

condition/environment to our people;

• Establishing standards, consultation

arrangements and embedding effective safety

systems;

• Developing, maintaining and upgrading site

documentation; and fully comply with legislation.

Solidifying a Vision

We took special care to• Follow and respect the

law of the land

• Do not discriminate –We abide by the government norms while paying salary or emoluments and providing work culture

INDIAN MINDS IN AUSTRALIAN MINES

95

Own & operate two hard coking coal mines in Australia

NRE No. 1

NRE Wongawilli

JORC resources of 574 Mt

Well developed resource with access to uncongested

infrastructure

Targeting to increase ROM production from 1.3Mtpa to 6.0Mtpa

over the next 5 years

Target long term operating cost of $39/t

Currently employing more than 450 people in Illawarra directly

Guided by a Vision for Growth

Surface Drive Head

0.5 0.7

1.51.8

3.03.2

0.0

1.0

2.0

3.0

4.0

FY10 FY11 FY12 FY13 FY14 FY15

Mt

Production forecast (ROM)

NRE NO.1 COLLIERY

Longwall order of $90 million placed for upgrade of the mine and to increase productivity

NRE WONGAWILLI COLLIERY

0.8

1.6 1.71.5 1.4

3.0

0.0

1.0

2.0

3.0

4.0

FY10 FY11 FY12 FY13 FY14 FY15

Mt

Production forecast (ROM)

Longwall with its shearer

New Joy continuous miner that arrived at Wongawilli on March’10

COAL QUALITY

Typical washed coal quality

Note:

1 Based on Bowen Basin coal quality estimates

2 Based on inherent moisture content of Peak Downs coal

Source: Australian Coal Association, Company reports, Broker reports

Bulli Wongawilli

Average range for

coking coal1

Ash (%) 9.6 10.0 7.0 – 10.5

CSN (swell index)

5.5 >9.0 6.0 – 9.0

Inherent Moisture (%)

0.8 0.9 1.02

Volatile Matter (%)

21.7 24.7 17.5 – 34.0

Rank (Ro Max) 1.3 1.2 0.95 – 1.70

Fluidity (ddpm) 1,800 3,000 100 – 20,000

Sulphur (%) 0.38 0.59 0.375 – 0.750

Phosphorous (%) 0.039 0.010 0.005 – 0.080

Gujarat NRE‟s hard

coking coal

compares well

against Bowen Basin

prime hard coking

coal on almost all

quality parameters

Port Kembla Coal Terminal remains an unconstrained coal export

port

ROM coal from NRE No.1 is transported via truck haulage

Wollongong

Port

Kembla

Rail

Road

NRE No. 1

NRE

Wongawilli

ROM coal from Wongawilli is

transported via rail

INFRASTRUCTURE POSITIONING

GNCCL‟s Two Mines, NRE 1 and Wongawilli are to be developed to deliver

production growth, cost reduction and operational excellence

» Based on in-house studies completed at a level equivalent to a pre-feasibility study

» At 6Mtpa operating costs are estimated to be ~$39.0/t FOB Port Kembla Coal Terminal

GROWTH PLAN – PRODUCTION FOCUS

Wongawilli Longwall Introduced

NRE 1 Longwall Introduction

Wongawilli Longwall Upgrade

CAGR: 36.7%

And thus….Gujarat NRE Coking Coal Ltd is

today…. ASX listed hard coking coal producer

Market capitalisation of ~A$650 million

100% owner of two underground mines :

NRE No. 1

NRE Wongawilli

JORC resources of 573.6Mt

All ROM coal sold under contract for captive

use to Gujarat NRE Coke Ltd

Commercial terms based on market

formula All product exported through Port Kembla

Coal Terminal

Regional rail and port infrastructure

capacity of 18Mt Experienced and expert management team

Targeting to increase ROM production from

1.3Mtpa to 6.0Mtpa over the next 5 years

Wollongong

Kiama

Port Kembla

Port Kembla

coal loader 18

Mtpa

Dendrobiu

m

W.

Tahmoor

Appin

Westcliff Northclif

f

Southern

Coalfield

NRE No. 1

NRE WONGAWILLI

BHP Illawarra

Coal

Peabody

Metropolita

n

Xstrata

Tahmoor

MAJOR SHAREHOLDERS

76%

13%

11%

Gujarat NRE Coke Ltd. & Associates

Financial Institutions & Nominees

Others

GNM Outperforms All Ordinaries

(ASX)

(from 30 cents to 66 cents in 12 mths)

2009 2010

MANAGEMENT STRUCTURE

Board of Directors

Management Committee

Arun Kumar Jagatramka

S Murari

P R Kannan

Sanjay Loyalka

Head of Operations

Steven Bow

Opeations

Manager NRE

Wongawilli

Head of

Technical

Services

Group

Engineering

Manager

Chief

Financial

Officer

HR

Manager

Company

Secretary/IT

Manager

Operations

Manager

NRE No.1

Phil Wakeford Dr. Chris

Harvey

Steven

Coffee

Naveen Kumar

Nanda

Stefanie

White

Sanjay

Sharma

Rhys Brett

STRONG MANAGEMENT TEAM

insert

Senior Management Team

Steven BowHead of OperationsBE(Hons), MEngSc

28 Years Underground Coal experience in coal operations and management with BHP Billiton and its coal operations in the Illawarra Region

First class mine managers certificate & qualified competent person in reserves analysis

Chris HarveyHead of Tech. ServicesPhD Mining Engineering

35 years coal industry experience Former Mining Engineer and Senior Environmental Officer with the

NSW Department of Mineral Resources

Steve CoffeeGroup Engineering Manager

28 years Underground Coal experience at operations in the southern and western coal fields of NSW mainly with BHP Billiton

Mechanical Engineers Certificate of Competency

Phil WakefordOperations ManagerNRE Wongawilli Colliery

33 years Underground Coal experience having worked in NSW South Coast, NSW Western District and Central Queensland Collieries with Oakdale Collieries Ltd, BHPBIC and NREWW

Mine Managers Certificate of Competency

Rhys BrettOperations ManagerNRE No. 1 Colliery B. Eng

(mining) honours .

8 years underground coal mining with Anglo, Centennial and Xstrata NSW 1st Class Certificate of Competency for Underground Coal Mines

and a diploma on Ventilation Engineering

Naveen Kumar NandaChief Financial Officer

16 years of extensive experience at senior level positions in reputed Indian companies and CA Firms, Sydney based CPA firm providing Auditing, Taxation & Corporate Consultancy.

Fellow Chartered Accountant from India and CPA from Australia.

Strengthening

our bonds with

the community

NRE Coal Cutters Cricket Club,

Last month won

The IPL (Illawarra Premier League)

From Plantation to Blood Donation……

From partnering Govt in

building Check Dams to

Generating Green Energy

Be Gentle with the earth

Accolades

In April 2008, appointed honorary

NSW “Sydney Ambassador” to

India by the Premier of NSW

This year declared as the “Person

of the Year 2009” by the Illawarra

Mercury

Premier‟s NSW Export Awards

The Australian Export Awards is a

national awards program which

recognizes and honors export

excellence thorough innovation and

commitment. The Company won the

2009 Premier‟s NSW Export Award in

Minerals and Energy sector and

became one of the finalists at National

level.

Be a part of our Growth Story

A dream being nurtured

to meet India’s Resource

Hunger

A Quest for energy

VALUE HAS A VALUE ONLY IF ITS VALUE IS VALUED

DisclaimerThe views expressed here contain information derived from publicly available

sources that have not been independently verified. No representation or

warranty is made as to the accuracy, completeness or reliability of the

information. Any forward looking information in this presentation has been

prepared on the basis of a number of assumptions which may prove to be

incorrect. This presentation should not be relied upon as a recommendation or

forecast by Gujarat NRE .

To the maximum extent permitted by law, Gujarat NRE does not warrant the

accuracy, currency or completeness of the information in this presentation, nor

the future performance of Gujarat NRE group companies, and will not be

responsible for any loss or damage arising from the use of the information.

The information contained in this presentation is not a substitute for detailed

investigation or analysis of any particular issue. Current and potential investors

and shareholders should seek independent advice before making any investment

decision in regard to Gujarat NRE or its activities