CONTRACT NO.

:
DATE
: 15th September,2014

BUYER
SELLER
This Sales Contract is made by and between the Buyer and the Seller whereby the Buyer
agrees to buy and the Seller agrees to sell the under-mentioned goods on the terms and
conditions stated below:
CLAUSE 1

NAME OF COMMODITY I
Country of Origin
Port of Loading
Destination

Copper Concentrate
Peru
Callao,Peru
Nanjing Jiansu , port in China

CLAUSE 2

DELIVERY PERIOD AND QUANTITY

Quantity
13.831 NDMT
Latest Date of Shipment
11th October, 2014

CLAUSE 3

SPECIFICATIONS:
CHEMICAL:
Cu
Au
Ag
Moisture

CLAUSE 4

NAME OF COMMODITY II
Country of Origin
Port of Loading
Destination

32.78%
0.061 OZ/TC
2.11 OZ/TC
5.13%

Copper Concentrate
Peru
Callao,Peru
Nanjing Jiansu , port in China

CLAUSE 5

DELIVERY PERIOD AND QUANTITY

Quantity
6.280 NDMT
Latest Date of Shipment
11th October, 2014

CLAUSE 6

SPECIFICATIONS: (On dry basis)

CHEMICAL:

Page 1 of 5

Cu
Au
Ag
Moisture
CLAUSE 7

NAME OF COMMODITY
Country of Origin
Port of Loading
Destination

23.07%
0.157 OZ/TC
5.53 OZ/TC
5.33%

Copper Concentrate
Peru
Callao,Peru
Nanjing Jiansu , port in China

CLAUSE 8

DELIVERY PERIOD AND QUANTITY

Quantity
27.519 NDMT
Latest Date of Shipment
11th October 2014

CLAUSE 9

SPECIFICATIONS: (On dry basis)

CHEMICAL:
Cu
Au
Ag
Moisture

CLAUSE 10

PRICE

CLAUSE 11

PRICE ADJUSTMENT

22.59%
0.442 OZ/TC
3.29 OZ/TC
10.31%

No price adjustment.
CLAUSE 12

PAYMENT
100%TT

CLAUSE 13

WEIGHING
At the loading port seller at sellers expenses shall determine the weight of
shipment of ore by draft survey. The weight of IOF as ascertained and certified
together with Load port weight certificate issued by SGS shall be basis of sellers
invoice. Buyer shall send their representative or nominated agency to witness
operation at the loading port.

CLAUSE 14

SAMPLING AND ANALYSIS

At the loading port seller shall at sellers expense to appoint Load port assayer. to
determine the specification of ore content in each shipment, and shall provide
analysis certificate issued by SGS showing details of the determination and also

Page 2 of 5

the percentage of free moisture loss at 105C. Buyer if felt necessary would
depute their representative or nominate agency at their cost to witness
operations at loading port.
CLAUSE 15

DISCHARGING TERMS
CQD

CLAUSE 16

ADVISE OF SHIPMENT
Seller shall, upon completion of loading, advise Buyer within 5 (five) working
days by cable/telex/fax/e-mail of the contract number, name of vessel, name of
commodity, approximate invoice value, gross weight and Bill of Lading date.

CLAUSE 17

INSURANCE
To be covered by Seller from the time ore is loaded on board the vessel. For this
purpose, seller/ vessel agent shall advise buyer by cable/telex/fax/E-mail before
the loading of the vessel starts and immediately after completion of the loading
of the particulars as called for in Clause 10 of this contract.
War risk premium (if any) will be on sellers account.

CLAUSE 18

FORCE MAJEURE
If at any time during the existence of this contract either party is unable to
perform whole or in part any obligation under this contract, because of war,
hostility, military operation of any character, civil commotions, sabotage,
quarantine restriction, acts of Government, fire, floods, explosions, epidemics,
earthquakes, storms, strikes or other labor trouble, embargoes, then the date of
fulfillment of any obligation shall be postponed during the time when such
circumstances are operative.
Any waiver/extension of time in respect of the delivery of any installment or part
of the goods shall not be deemed to be waiver/extension of time in respect of the
remaining deliveries. If operation of such circumstances exceeds three months,
either party will have the right to refuse further performance of the contract in
which case neither party shall have the right to claim eventual damages. The
party which is unable to fulfill its obligations under the present contract must
within 15 days of occurrence of any of the causes mentioned in this clause shall
in for the other party of the existence of the termination of the circumstances
preventing the performance of the contract. Certificate issued by a Chamber of
Commerce or any other competent authority connected with the cause in the
country of the seller or the buyer shall be sufficient proof of the existence of the
above circumstances and their duration. Non-availability of material will not be
an excuse to the Sellers for not performing their obligations under this contract.

CLAUSE 19

ARBITRATION
Any dispute arising from or in connection with this contract shall be submitted to
China International Economic and Trade Arbitration Commission in Beijing for
arbitration which shall be conducted in accordance with the commissions

Page 3 of 5

arbitration rules in effect at the time of applying for arbitration. The arbitral
award is final and binding upon both parties
CLAUSE 20

TITLE AND RISK

The Title with respect to shipment shall pass from Seller to the Buyers when
Seller receives reimbursement of the proceeds from the opening bank through
the negotiating bank against the relative shipping documents as set forth in
Letter of Credit after completion of loading on board the vessel at loading port,
with effect retrospective to the time of delivery of ore.
All Risk of loss, damage or destruction respecting the ore delivered shall pass to
Buyers at the time of discharge of the Ore from the loading devices into the
vessel.

CLAUSE 21

LOSS OF CARGO
In the event of partial loss of cargo, the Bill of Lading weight and the analysis
carried out by Buyer on the cargo discharged shall be treated as final and shall
form the basis of final invoicing and payment. In the event of total loss of cargo,
the analysis and the weight as determined at the Loading port shall be treated as
final and shall be used for final invoicing and payment.

CLAUSE 22

AMENDMENT OF THE CONTRACT

Any amendment or modification to this contract shall be made in writing and
subject to confirmation by the contracting parties.

CLAUSE 23

NOTICES
All communications referred to in this contract shall be in writing and will be sent
by registered airmail and/or by telex, cable, fax, e-mail.
In witness whereof this contract is made in duplicate on this 15th day of
September 2014, and the duly authorized representatives of the Seller and Buyer
having signed on this day.
Retained one copy each.

For

For

Page 4 of 5

Authorized Signatory
Authorized Signatory

Page 5 of 5