Archean Group has made a bid to participate in the privatization of 85% stake in Kopalnie i Zaklady Chemiczne Siarki Siarkopol S.A. (Siarkopol). Archean is one of the three shortlisted bidders for Siarkopol. The Times of India reported that Archean could not be reached for immediate comments. Poland is expected to announce the winner of Siarkopol in the next couple of weeks.

Clean Coal Technologies, Inc. announced the formation of Good Coal PTE. Ltd., a Joint Venture between Archean Group and Clean Coal Technologies. Under the agreement, as previously announced, the joint venture company will develop, deploy and market Clean Coal Technologies' Pristine-M(TM) technology throughout the ASEAN region. The JV will be owned 55% by Archean Group and 45% by Clean Coal Technologies. Through the JV partnership, a 1:10 scale commercial unit of the patented clean coal process is to be constructed in Oklahoma. Beyond the $2 million estimated cost of the pilot plant, Archean Group has committed to contribute $2.0 million to the JV.

Clean Coal Technologies, Inc. has instead entered into a binding terms of agreement for a joint venture with the Archean Group to develop, deploy and market CCTI's Pristine M technology throughout the ASEAN region. It is anticipated that the joint venture company will be owned 55% by AGPL and 45% by CCTI. In exchange for a 55% ownership interest in the JV, AGPL has committed to contribute $4.0 million to the JV. Of this amount, it is anticipated that $2.0 million will be used to fund the construction of a 1:10-scale pilot plant in Oklahoma. The remaining $2.0 million is a one-time license fee that will be payable to CCTI upon successful commissioning of the pilot plant. Construction of the pilot plant in Oklahoma will commence immediately upon execution of the EPC Contract and receipt of a down payment to SAIC by the JV. It is expected that the EPC Contract will be formalized this month and construction of the pilot plant will begin in April with construction scheduled to be completed within 16 to 24 weeks. Under the binding terms of the agreement, AGPL will pay a $1.00 per ton ongoing royalty fee for all coal processed from AGPL majority-owned mines provided that no royalty fee will be payable for the first two million tons of coal produced. In exchange for its 45% ownership interest in the JV, CCTI will contribute a 25-year exclusive license to develop, market and deploy its Pristine M technology, covering the ASEAN countries, including Indonesia, the Philippines, Cambodia, Vietnam, Malaysia, Brunei, Thailand, Laos and Myanmar. In addition to providing certain funding for the JV, AGPL has also agreed to purchase a 6.7% stake in CCTI for $2.0 million. It is anticipated that the funds will be paid to CCTI during the week of March 19, 2012.