GRW

IRON ORE LUMPS PHILIPPINES

AUGUST 17, 2021

Commodity: Magnetite Iron Ore in Lumps;

Origin: Philippines;

Iron (Fe) contents: 62% +;

Specifications: Al203: 3.5%

SiO2: 5%

S: 0%

P: 0.1%

Moisture: 5%-8%;

Size: 1cm-25cm

Quantity: 50,000 to 300,000 metric tons per month;

Packing mode: Bulk (in hull);

Start of delivery: 30 days upon bank confirmation of the L/C

Term Contract: 1 -3 years;

Inspection: From SGS or CIQ at the port of origin, at seller’s cost;

Terms of Delivery: CIF China;

Prices (USA Currency): US$145.00 per metric ton;

Performance bond: 2%

Payment Terms: Irrevocable, Non-transferable, Letter of Credit against documents of 90%

Payment before dispatch and upon presentation of shipping documents, government permits and clearances. Balance of 10% shall be given at the

discharge port after SGS or CIQ inspection.

Important Note: Analysis report issued at the port of origin (Philippines), Buyer

may arrange inspection at the port of discharge, at their risk

and cost. However, findings as found in the analysis

report done at the port of origin shall prevail for the 90%

payment and findings from the report issued at the destination port will prevail for the 10% payment;

LC GOES DIRECT TO THE MINE