Lithium Ore ( Spodumene)

PRODUCT: Lithium ( spodumene)
ORIGIN: Nigeria
QUANTITY: Trial Shipment l,000MT within 35 days after received LC, Monthly shipment up to
30,000MT
PRICE CIF CHINA:
Grade 5.0% - 5.499% price shall be paid at US$460/metric ton
Grade 5.5%- 5.999% price shall be paid at US$510/metric ton
Grade 6.0%- 6.499% price shall be paid at U560/metric ton
Grade 6.5%- 6.99% price shall be paid at US$610/metric ton
Grade 7.0%- 7.499% price shall be paid at US$660/metric ton
Grade 7.5% - 7.99% Price shall be paid at US$710/metric ton
Grade 8.0% - 8.499% price shall be paid at US$760/metric ton
Grade 8.5% - 8.999% price shall be paid at US$810/metric ton

2

Grade 9.00% and above price shall be paid at US$860/metric ton
QUALITY: Li: 9% BASIS WITH 5% MIN (rejection below 4%)
PHYSICAL SIZE: 0 - l00MM 90% MIN
(If buyer requires crushing to smaller size then it would require a little higher price)
PACKING: Containers loaded in bulk, or in bulk vessel shipment.
SHIPMENT: 35 days maximum after received of irrevocable confirmed Letter
of Credit
PORT OF LOADING: Apapa port Lagos, Nigeria
PORT OF DESTINATION: CIF China Port.

INSPECTION: CCIC International (CCIC International is a Chinese Inspection
Institution)
90 % PAID AT LOADING PORT TO MINER WITH CCIC INSPECTION PAID
BY MINER
10% AT UNLOADING PORT WITH CCIC INSPECTION PAID BY BUYER

TERM OF PAYMENT*: By 100% Non-Transferable, Irrevocable confirmed Documentary
Letter of Credit from a prime bank payable at sight for 90% pro
visional (Bill of lading, invoice, packing list, Q and Q) at origin port and 10% at destination. port
PROCEDURES:
LITHIUM ORE exportation Procedure*
THE PROCESS BEGINS WITH DIRECT BUYER TO ISSUE A LETTER OF INTENT WITH
THEIR BANKING ON IT TO:
MR. ....
NIGERIA GRW AGENCY
4, NURUDEEN STREET, OFF AKINREMI STREET, ANIFOWOSHE,
IKEJA, LAGOS,
NIGERIA.

NOTE:
(1) THE LC WILL GO TO THE DIRECT MINER
(2) GRW HAS A SIGNED AND SEALED MARKETING CONTRACT WITH THE MINER TO HANDLE
THE MARKETING OF THE MINEâ??S ORES
(3) BUYER CAN BE AT LOADING

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Then the following is the rest of the procedure:
1. Buyer and Seller Sign Contract.
2. Buyer issues LC draft, and seller issue 2% PB draft
3. Seller confirms LC draft, and Buyer confirms 2% PB draft
4. Buyer issues his irrevocable non-operative Letter of Credit at sight in
favor of the seller. (It will be the direct miner)
5. The Seller issues a performance guarantee (2%PB) in favor of the buyer
to activate the Letter of Credit.
6. Shipment commences as per agreement.
7. Seller summits documents