"COMMODITY"). THE IRON ORE SPECIFICATION DETAILS ARE AS
FOLLOWS: ORIGIN: KALINGA NAGAR BHUBANESWAR, ODISHA, INDIA PURITY:
MINIMUM FE GRADE OF 57+% THIS CONTRACT IS MADE BY AND BETWEEN BUYER
AND SELLER, WHEREBY BUYER AGREES TO BUY AND SELLER AGREES TO SELL
THE COMMODITY ON THE FOLLOWING TERMS AND CONDITIONS: 1. NAME OF
COMMODITY: IRON ORE FINES 2. COUNTRY OF ORIGIN: INDIA 3. PACKING:
IN BULK 4. PORT OF LOADING: VISAKHAPATNAM PORT, INDIA 5. PORT OF
DISCHARGE CHINA MAIN PORT 6. MONTHLY DELIVERY: QUANTITY TO BE
DELIVERED IN 24 MONTHS 50,000 MT X 3 MONTHS 100,000 MT X 4 MONTHS
170,000 MT X 5 MONTHS 200,000 MT X 12 MONTHS QUANTITY/SPECIFICATION
55,000 MT OFIRON ORE FINES (PLUS / MINUS 10% AT BUYER’S OPTION)
SPECIFICATIONS CHEMICAL COMPOSITION ( PERCENTAGE BY WEIGHT) FE :
57+% BASIS, REJECTION BELOW 56.5% FE SIO2 : 13.5% MAX AL2O3 : 3.00%
MAX. P : 0.04% MAX. S : 0.01% MAX. MOISTURE: 8 - 10% MAX (FREE
MOISTURE LOSS AT 105 DEGREES CENTIGRADE) PHYSICAL SPECIFICATION (ON
NATURAL BASIS ABOVE 10MM: 10.00% MAX 0MM – 10MM : 90.00% MIN BASE
PRICE CONTRACT FOR THE ROLLOVER OF THE IRON ORE 57+ FE MONTHLY
INDEX PRICE DISCOUNT, ON THE TERMS AND CONDITIONS AS SET FORTH
BELOW. THE DISCOUNT PRICE IS SUBJECT TO A MUTUAL AGREEMENT BETWEEN
THE BUYER AND THE SELLER AND IS APPROVED BY THE SELLER EACH MONTH.
THE FINAL PRICE WILL BE DETERMINED ONCE THE AGREEMENT IS FINALIZED