Metallurgical Grade Bauxite ORIGIN: Sierra Leone QUALITY: Al2O3 = 45.5% minimum (typical 46 - 47%). SiO2 = 6% maximum (typical 4% - 6%). Fe2O3 = 22.7 % typical; Organic Carbon = 0.2% H2O = 12% maximum (typical 10%-14%) Size: 0 mm - 100 mm minimum 90%, (natural & grainy) > 100 mm maximum 10% Base Price: USD $39 per DMT FOB [Free Town, Sierra Leone Port] a: AlO3: 45.5% minimum. i : If Al2O3 is >= 45.5% and 46.50%, bonus is US$0.50/DMT for every 1% higher, prorata. (e.g. if the grade is 47% there will be a US$0.25/DMT bonus iii : If Al2O3 < 45.50%, the penalty is US$0.50/DMT for every 1% lower, prorata. iiii : Rejection if Al2O3 < 43%. b: SiO2: 6% maximum. i : If SiO2 is >= 4.0% and 6.0% the penalty is US$0.50/DMT for every 1% higher, pro rata. iii : SiO2 < 4.0%, bonus is US$0.50/DMT for every 1% lower, pro rata. iiii : Rejection if SiO2 > 8% Quantity: Shipments of min 180,000 WMT +/- 10% each. Inspection Quality and quantity of each shipment is subject to SGSâ??s inspection at the loading port. Buyerâ??s representative may be present during loading, sampling and the draught survey. Delivery Basis First Shipment: Available before June 30th, 2017 Loading port: Offshore Freetown Outer Limits Payment Terms 100% payment covered by Letter of Credit issued by a bank which is acceptable to Seller. 90% drawn based on loading analysis of SGS certificate weight and assay, balance 10% based on CCIC Certificate at Discharge port. Letter of Credit to be opened at least 10 working days before the first lay can day of each shipment, with 90 days minimum validity. Draft Letter of Credit to be sent by Buyer for Seller approval at least 5 working days prior to the last date the said L/C must be opened. Shipping documents The Seller shall courier to the Buyer by express mail or courier the following documents: *  One original Bill of Lading; *  One original commercial invoice; *  One original Weight Certificate issued by SGS; *  One original Certificate of Quality issued by SGS; §§  One original Certificate of Origin.