600`000 Tons of RBI A-Grade Coal Contract period 1 year

PRODUCT LOADED AT: Richards BayCoal Terminal (RBCT)

PAYMENT TERMS: Irrevocable,Confirmed, transferable LOC (Incoterms, UCP terms and S&PC terms to behonored).

GUARANTEE OFPRODUCT: SGS Quantity andQuality Report; Performance Guarantee (2% performance bond)

SALE AGREEMENT:  Seller to draw up theS&PC on receipt of the LOC

PROOF OF FUNDS: LOC or BG from the Buyersbank on acceptance of FCO

FIRST LOAD:                    On condition that a (BG) BankGuaranteee  in place for 50`000 tons and monthly payment up front LOC or other payment instrument being activated andaccepted by the Sellers bank.

PRICE PER METRIC TON:RBI + 3.5% per Metric Ton

MONTHLY OFFTAKE        50000 X 12 months

INCOTERMS:                   RBCT (Richards Bay Coal Terminal), FOB: RBI + 3.5%

GCV ADB                           6750-kcal/kg                                           Below 6500 kcal/kg

Size 0 - 50 mm

Inherent Moisture ADB          5-9%                                                       Minimum 5800

Sulphur           ADB             O.6-0.9%                                                 Maximum 1.0%

Ash Content    ADB              6-9%                                                      Maximum 12%

Volatile Matter ADB              35-41                                                     More than 44%

Total Moisture ARB              12-14%                                                  Maximum15%

ACCEPTEDLIMITS                                 REJECTIONBEYOND

COMMODITY: RBI(Richards Bay Index) Coal Export Quality
QUANTITY: 50`000 Metric Tons per month