Titanium 12% Iron 58%

1. Product: Iron ore 58% Titanium 12%

2. Origin: South Africa

3. Quantity: 80 000 mt per month x 24 months ( 60 days from LC to first shipment)

4. Packing: Bulk

5. Size: 5mm to 36mm

6. Specifications FE2O3

     K20 0.01 MnO 0.29 Na2O 1.25 P2O5 0.003 Ti02 12.4 Cr2O3 0.43 H2O 6.4 AI2O3 3.6 CaO 0.14 MgO 1.29 Fe2O3 78.5 V205 0.37

7, Price: $55/MT FOB

8. Port of Loading: Maputo or Richards Bay

9. Payment: Irrevocable Letter of Credit or Payment on Documents

10. Inspection: Loading port: Seller can carry out inspection