Solid Energy New Zealand Limited.

Solid Energy New Zealand Limited. Typical Stockton Coking Coal Specifications Typical Guaranteed MOISTURE (%) Total

7.8

PROXIMATE ANALYSIS (air dried basis) (%) Ash Inherent moisture Volatile Matter Fixed Carbon

2 to 5 1.5 32.0 by diff.

ULTIMATE ANALYSIS (dry mineral matter free) (%) Carbon Hydrogen Nitrogen Sulphur Oxygen

86.7 5.6 1.2 1.8 4.7

ASH ANALYSIS SiO2 Al2O3 Fe2O3 K2O TiO2 CaO P2O5 Na2O Mn3O4 MgO SO3 Other

48.90 32.60 7.60 2.50 2.20 1.20 0.68 0.67 0.43 0.43 0.01 2.78

8.0

approx.

80 to 95

CHEMICAL ANALYSES Sulphur (air dried basis) (%) Total Sulphur Chlorine (%) Phosphorus (%)

1.5 to 3 0.06 very low

SWELLING, CAKING & PLASTOMETRIC TESTS Crucible Swelling Number Grey King Coke Type

9 G10

AUDIBERTSoftening ARNU DILATOMETER Temperature VALUES (degrees 405 C) Temperature of max contraction 435 Temperature of max dilatation 485 Maximum Contraction (%) 29 Maximum Dilatation (%) 135 Total Dilatation (%) 164 17-Nov-09

SPECIFIC ENERGY Gross Air Dried

8,120

MACERAL ANALYSIS (%) Vitrinite Exinite Inertinite Mineral Matter

96 1 1 2

Shapiro & Gray Reactives

97

Shapiro & Gray Inerts

3

Coking Pressure (PSI)

31 13 11 18 27

Hardgrove Grindability Index

405 454 490 85 500 2.7

REFLECTANCE (%) Mean Maximum Reflectance

PHYSICAL ANALYSES Size Analysis (%) 6.3-50mm 3.35-6.3mm 2-3.35mm 1-2mm Below 1mm

Typical GIESELER PLASTOMETER VALUES (degrees C) Initial Softening Temperature Maximum Fluidity Temperature Resolidification Temperature Plastic Range Maximum Fluidity Log Maximum Fluidity

7

1.15 0