Manganese Ore 30% and UP - Brazil
COMMODITY:    Manganese Ore Mn  30%, Rejection Mn 28%,  Lump.
Quantity:         a) First Trial shipment: 15,000 Mt
Delivery Schedule: 15,000 Mt from first month and Up to 45,000 Mt from second month for 11 consecutive months.  
First Shipment:   Ready to be shipped after issuance of L/C 
Delivery Terms:  FOB, INCOTERMS 
Inspection:          By SGS or Lloyd’s to define Quantity & Quality at seller´s costs
Price:                   US$ 109,00/MT - (Dollars per MT) FOB, Port of Santana.
Trial Shipment:  Irrevocable, Confirmed, Non transferable Letter of Credit (DLC) payable 100% at sight after presentation of shipping documents (Set)  issued by a prime international bank. For first Shipment (NO PB) >> 15,000 Mt
Irrevocable, Confirmed, Non transferable and revolving Letter of Credit (RDLC) payable 100% at sight after presentation shipping documents (Set) in US$, issued by a prime international bank.
Performance Bond is considered for Monthly Shipments as 2% of one cargo value >> 45,000 Mt per Month.
Chemical Composition
Mn          30 %  Minimum Guaranteed
SiO 2      10  % Max
AL2O3    12  % Max
Physical composition
12.00 max

Expected (%)	0 mm–   5mm	15.0 max
85.0	Moisture
10.00

1. Buyer issues  LOI/RWA  with full banking coordinates and permission for Soft probe.
3. Buyer signs the Draft Contract and sends it back to the Seller.
4. Seller issues the final Contract to the Buyer.
5. Buyer's bank issues and sends by swift the non-operative LC 100% at sight to the Seller's bank within 48 hours.
6. Seller posts Performance Bond (PB) for the value of 2,0% and LC becomes operative for Yearly Contract only.
7. 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..
Visit to the Mine site after signing Contract.


Luis O. Benavente
Director Overseas Operations