Price based on 62%Fe Platts, at currently Platts minus 5%. Price is reviewed every month

to conform to this discount. Platts price is determined as 5 day average before shipment date.

If Buyer wants a fixed price over the duration of the 12 months, we can quote at time when

Contract is about to be issued. Spot or Trial shipments normally paid via MT-103. Negotiable.

For 67%Fe, Price is 64.5%Fe price plus $10.

- Payment by Irrevocable Non-transferable DLC (MT700) or SBLC (MT760).

Issuance shall be within 10 days after Contract signatures by both parties.



SPECIFICATIONS

Chemical Composition (on Dry basis, percentage by weight)

Guaranteed Fe 64.5% basis, Reject <63%

SiO2: 1.90% Max

TiO2: 0.0022% Max

Al2O3: 0.06% Max

MnO: 0.011% Max

MgO: 0.365% Max

Na2O: 0.025% Max

K2O: 0.01% Max

P2O5: 0.04% Max

P: 0.0011% Max

S; 0.001% Max

CaO: 0.0850% Max

FeO: 15% Minimum

Moisture Content (Free moisture loss at 105 degrees centigrade):Guaranteed 8.00%

Max) . Physical size max. 10 mm.

Physical Specification (Natural Basis): LUMP Nominal 50 mm �¢?? 90% min. as a load

basis set by seller.

Physical Specification (Natural Basis): FINES

Guaranteed below 3.0 mm �¢?? 1 mm 80% min as load basis set by seller.



MoQ - 150,000 MT x 12. Quantities can be increased by multiples of

150,000 MT (300 KMT, 450 KMT, 600 KMT up to 1050 KMT)

Break bulk. Ore shipped as DRY Metric Tons.