Giuelith Timantti Ltd. Iron Ore Contract Agreement Summary 15 March 2014

 

 


Tromsø 2014-03-15

Australia and Brazil together dominate the world's iron ore exports, each having about one-third of total exports. India, once the third largest exporter of iron ore, had exported 15.55 MT of the mineral in the corresponding period of last fiscal, data released by Federation of Indian Mineral Industries (FIMI). In April-November, 2013, exports of iron ore pellets have risen sharply, causing an apprehension about shortage of iron ore in the country. Government have raised the duty (5%) for export of iron ore pellets from India. The major exporter of low-grade iron ore is Canada and the U.S.A. These countries, mostly trade with China. Exports will begin next month with 10-year export sales agreements. Low grade iron ore resources in Canada that releases approximately 40 million tonnes of hematite lump and fine ore that is planned for sale over a 10-year period. They’ll be the first iron ore exports from Canada. Freeport near Indonesia supply deal also could ease contract renegotiations for demand. Iran's iron ore exports reached $1.104 billion in the first 10 months of the Iranian calendar year (started on March 21). With the addition of Rio Tinto announced contracts for 2014, 60% of the company's iron ore volume is committed under existing long-term supply contracts. At Giuelith Timantti Ltd. the system of pricing iron ore supply contracts with steelmakers continues as planed on 15 March 2014 and is based on international benchmark pricing. The sales agreement includes a freight component for mutually agreed forward periods and Giuelith Timantti Ltd. will arrange and provide shipping. Within 5 working days of a receipt of acceptable payment, a performance bond (2%) of value of each shipment is issued as of a standard procedure for processing orders. Giuelith Timantti Ltd. will announce details of further export iron ore contracts as they are signed. The export iron ore contracts announced until today cover sales in excess of 5 MT of ore over 10 years. Once we receive an enquiry, we will issue a "seaborne iron ore offer" or "iron ore spot offer" to the buyer. Our procedures for processing orders is made so that the negotiation meets mutual benfits and acceptable arrangements with the buyer that is required by the supplier. We do negotiate on behalf of serveral different producers around the world.

　Giuen Invest Management Ltd. (GMOL)

Stron House 100 Pall Mall
SW1Y 5EA London, UK
VAT: 07371355
CEO / PIO
Roger K. Olsson
Email: linership@yandex.com
Website: http://deposit.homestead.com