NEW 2017 Soft Offer - Bauxite Al2O3 44-46% - Up to 150,000 Mt p/month - Origin LATAM - FOB Basis

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Chile, July´17, 2017

FCO Bauxite Al2O3 44-46%

LATAM

We have the pleasure to inform you that our group have negotiated this excellent option related to Metallurgical Grade Bauxite from LATAM.

·         Seller is R, W and A to advance in faster terms to Draft Contract after receive ICPO.

·         Images, Lab Analysis, available after approve ICPO.

·         Available order UP to 150,000 Mt monthly. 

Dear Sir: 

PRESENT

We Miner Group hereby confirm with full corporate and legal responsibility under penalty of perjury that the following commodity is available under the state and conditions herein:

Commodity:                 Metallurgical Grade Bauxite

Contract:                     Contract for 1 year, renewable for the same year.

Quantity:                      UP to 150,000 Mt per month

Contract Terms:          Twelve (12) months with possible roll-overs and extensions.

Delivery:                      Half month from reception L/C for first Shipment

Country of Origin:       LATAM (Latin America).

INCOTERMS:               FOB basis

Price:                           US$ 31 Pmt

Moisture:                     17% - 19% PCT Maximum

Packing:                      In bulk

Performance Bond:     2% of one Shipment

Visit:                            Buyer is welcome to visit mine site after sign Contract

Letter of Credit: Confirmed documentary L/C, Non Transferable or Transferable, payable 100% at Sight for the first shipment opened by prime Bank acceptable to Seller. Payment will happen with presentation of Shipping documents at loading port after CCIC.

Certification: According to CCIC in the yard,

Technical Specifications:

CHEMICAL COMPOSITION GUARANTEED

AL2O3:             44%- 46% Max.

SiO2:               5% - 7% Max.

Fe2O3:             19% - 21% Max.

CaO:                0.75% - 1.50% Max.

Na20                0.18% - 0.35%

Ti02:                1.00% - 2.50%

Moisture:         17% - 19% PCT Maximum.

Size:                0 mm - 100 mm 90% Min, (natural & grainy) > 100mm, 10% Maximum

PROCEDURES

0.-  Seller issues SCO duly signed

1.-  Buyer issues  LOI or ICPO with permission for Soft probe.

2.-  Seller issues the FCO

3.-  Buyer signs, seals and returns the FCO.

4.-  Seller issues Draft Contract.

5.-  Buyer signs the Draft Contract and sends it back to the Seller.

6.-  Seller issues the final Contract to the Buyer .

7.-  Buyer's bank issues and sends by swift the Non-operative  LC 100% at sight to the Seller's bank within 48 hours.

8.-  Seller posts Performance Bond (PB) for the value of 2% and LC becomes operative.

9.-  Shipment begins. Buyer can made a physical inspection together with SGS at the time of loading of product.

This representation is made with full corporate authority and responsibility of the above..

Best Regards,

Luis O. Benavente

CORPORATE ITC

Phone: +56 9 71572892