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 3 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
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