SOFT OFFER- IRON ORE 64,5%

COMMISION US$2/MT

OCTOBER 2010

IRON ORE 64,5% - 45 000 mt/Month X 12 /24

Price: USD 110,00/mt – FOB – port Vitoria  / Brazil

NOTE : Readjusted with index of variation of price of the CVRD.
( cia Vale do Rio Doce)

Payment: 2 month of BG or SBLC Unconditional for final contract,
 validity of the BG for 12 months and one day and validity
 SBLC for 14 months and 20 days, transferable, irrevocable,
 divisible and others payments in DLC or TT or MT 103/23.

SPECIFICATION IN:

Fe     64.5%

Rejection Below:63.0%

Al203   2.00%max

SIO2   3.50% MAX

SULPHUR 0.003% MAX

PHOSPHURUS  0.07% MAX

Mn 0.10% max.

  

Physical Characteristics:

+10MM 5% max

+1mm 0% min

-0.15% MM 20% max 

Moisture 8.00% max at 105 degrees centigrade

 PROCEDURES:

- Buyer issues ICPO and  BCL or RWA.

- Seller issues FCO.

- Buyer signs and stamps the FCO and send it back.

- Seller sends the Contract draft to the buyer.

- Buyer signs it, stamp it and send it back to us, and issue MT 999.

- Seller sends to the buyer the Contract on our company letter head.

- Buyer open BG or SBLC non operative.

- Seller payd PB 2% + POP.

- BG or SBLC Operative

- Shipments

BEST REGARDS

Mário Carvalho