Minutes of meeting
For
。。。。。project
In
South sumatera，indonesia
Attendance：Refer to Attached List（see Attachment 1） Date ： October 19, 2015
Place ：Hangzhou
1. The agreed agenda are as follows：
A. Coal supply issue
B. POA for signing MOU regarding the HVDC Sumatera-Java transmission Project
C. Financial Advisor Mandate letter
D. How to push forward the power plant，coal mine and transmission projects.
2. General overview: All the shareholders have the same understanding that even if the project didn’t make expected progress in the past several months due to the HVDC T/L issues and the influence of the new Minning Law to coal supply
scheme, all the attendees still have confidence that all these issues will be solved with the best efforts of all parties. Coal Supply issue
PTBA made a comprehensive meaningful presentation regarding the new mining law, its impact to signed JVC Coal Mine and PTBA opinion for new coalsupply scheme as well as response to CDB letter of 11 August 2015.
The summary of PTBA’s proposal scheme in its presentation is as follows:
1 PTBA cannot assign its right and obligation as mining permits holder to other party pursuant to the new mining law.
2 it is PTBA as mining permit holder who shall decide the coal price, hence, the revenues account shall be reckoned in PTBA’s book.(which may affect to royalty,tax,etc)
3coal supply agreement shall be established between JVC power and PTBA.
4 PTBA cannot fulfill the requirement of CDB that the KP is held by PTBA’s subsidiary due to an uncertainty of getting KP by PTBA or its subsidiary.
5 as long as PTBA holds the mining permit and hold a full authority of the mine then PTBA can give a guaranty of coal supply to JVC Power.
The attendees discussed the proposed scheme made by PTBA as follows:
PTBA concludes, base on all input from received information, the followings 4 possible coal supply schemes that comply with the new mining law:
1 Pass-through scheme(scheme 1)
2 PTBA as the coal supplier(scheme 2)
3 JVC Coal Mine will be coal mining service company or other position(scheme 3)
Project: Geotechnical Investigation at Ibity Holcim Cement Plant Meeting Date: 13/06/2012
Meeting Time: 15:00
Recorder: Tony
Location: Antananarivo, Madagascar
Present: Michele Franchi Geo-eco Consult
Toky Holcim Representative
Hua Kefu -------- Cement
------ -------- Cement
Pang Guoqiang --------- Cement
This meeting reaches agreement on the following issues:
I. Geotechnical investigation contractor and Holcim have discussed the old payment terms and formed a new payment term in the contract. Both sides agreed that the new payment terms which should be prescribed in geotechnical investigation contract to replace the old term.
II. Geotechnical investigation contractor pointed out that article 6.2 on contract agreement which is not acceptable according to Madagascar law. Contractor required that penalty value lower to 0.3% of the total contract price per in agreed this comment and modify this value to 0.3% will be prescribe in the geotechnical investigation contract.
III. As for contractor’s timing of work, Huaxin cement think that it’s too long and can not accept that total work timing. So contractor’s complete work timing is pending.
IV. Due to the EPC contact negotiation between Holcim and Huaxin is suspended, Huaxin can not sign the geotechnical investigation contract right now. However, both sides (--- & ------) agreed the geotechnical investigation contract contents. This
V. Contractor agreed to perform three continuous core drilling for knowing soil layer classification on site. A detailed boreholes layout with different types of tests mark out should be instantly returned to Huaxin after finish the first three continuous core drilling.
VI. For site topography surveying, Huaxin required that six control points are needed for that topography survey. Contractor agreed this suggestion.
VII. Contractor agreed to supply a site seismic report.
VIII. Huaxin required that contactor should reduce the amount of PLT (plate load test) to an appropriate number based on actual site situation. Previously PLT amount is 30 which are too much. Contractor agreed this comment.
x: Contract
