SPECIFICATION AND CONDITIONS

1. Commodity
Name of the Commodity Lump Ore
Country of Origin: Thailand
Packing: In bulk
Port of Loading: FOB ST Kohsichang, Thailand

2. Delivery Period/Quantity/Specification
Quantity: 30,000 WMT of Lump Ore plus/minus 5% at seller’s option in one shipment.

3 Specifications Guaranteed
A. Chemical Composition (on dry basis, percentage by weight)
Fe: 60-65% (Rejection below 60%)
SiO2: 3.5% Max.
Al2O3: 2% Max
P: 0.08% Max
S: 0.08% Max

B. Moisture : Free moisture loss 105 degree centigrade shall be 6% maximum; if moisture over
6% total invoice quantity should be deducted for the percentage of over

C. Physical Specification:
Size: 0-80 mm :
Average Size 0 - 10 mm about 15%,
10 - 50 mm about 70%,
Not over 80 mm about 15%

4. Base Price
The base price is US$/DMT FOB ST Kohsichang, Thailand on the basis of 63.50% Fe,
Fraction Prorata (Please reference the recent market price level)

5. Payment term
L/C at sight

6. Inspection
a) The buyer shall have the right to visit the mine and inspection at his expense to stockpile. and

b)Quality, Quantity, Weight by SGS or equivalent at seller’s cost at loading port. The buyer shall have the right to send his delegate(s) at his expense to attend the loading process. The Certificates shall be issued by SGS or equivalent.
Cost caused by any other inspection at the loading or discharging port shall be borne by the Buyer.