Exhibit 10.1
FEB 8, 2013
OUR L/C NO.: R4RI-386809
MESSAGE SENT TO: APPLICANT: JPMORGAN CHASE BANK, N.A BAKER HUGHES PRIVATE BAG
X9936 SANDTON OILFIELD OPERATIONS INC. JOHANNESBURG 2146, 2001 RANKIN ROAD SOUTH
AFRICA HOUSTON, TEXAS 77073
FOLLOWING IS THE TEXT OF A S.W.I.F.T. MESSAGE SENT TO THE PARTY INDICATED ABOVE:
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FORM OF DOCUMENTARY CREDIT: IRREVOCABLE
DOCUMENTARY CREDIT NUMBER: R4RI-386809
DATE OF ISSUE: FEBRUARY 8, 2013
APPLICABLE RULE: UCP LATEST VERSION
DATE AND PLACE OF EXPIRY: MARCH 22, 2014 AT OUR COUNTER
HUGHES
OILFIELD OPERATIONS INC.
2001 RANKIN ROAD
HOUSTON, TEXAS 77073
MINERALS ZIMBABWE (PRIVATE) LIMITED
98 CHURCHILL AVENUE, GUNHILL
HARARE, ZIMBABWE
DOCUMENTARY CREDIT AMOUNT: USD3,000,000.00
TOLERANCE (+%/-%): 05/05
AVAILABLE WITH: JPMORGAN CHASE BANK, N.A. BY PAYMENT
DRAFTS AT: AT SIGHT
DRAWEE: JPMORGAN CHASE BANK, N.A.
TRANSHIPMENT: ALLOWED
PORT OF LOADING: BEIRA, MOZAMBIQUE
PORT OF DISCHARGE: ANY USA GULF PORT
DESCRIPTION OF GOODS: CRUDE BARITE ORE IN LUMP FORM AT XXXX PER METRIC TON
SHIPMENT TO BE EFFECTED IN THREE LOTS OF XXXX MTS (+/-5PCT) EACH, NON
CUMULATIVE:
FIRST LOT TO BE SHIPPED BETWEEN JUNE 1, 2013 AND AUGUST 31, 2013.
SECOND LOT TO BE SHIPPED BETWEEN SEPTEMBER 1, 2013 AND NOVEMBER 30, 2013
THIRD LOT TO BE SHIPPED BETWEEN DECEMBER 1, 2013 AND MARCH 1, 2014
SHIPMENT TERM: FOB BEIRA, MOZAMBIQUE
DOCUMENTS REQUIRED:
+COMMERCIAL INVOICE IN 5 ORIGINALS AND 4 COPIES
+PACKING LIST IN 5 ORIGINALS AND 3 COPIES
+CERTIFICATE OF ORIGIN IN 2 ORIGINALS AND 2 COPIES
+THIRD PARTY PRE-SHIPMENT INSPECTION CERTIFICATE, NOTED AS 'RECEIVED AND
APPROVED' BY A PURPORTED OFFICER OF BAKER HUGHES IN 2 ORIGINALS AND 2 COPIES TO
INCLUDE CERTIFICATE OF QUALITY AND CERTIFICATE OF QUANTITY EVIDENCING SHIPMENT
OF GOODS IS IN COMPLIANCE WITH BELOW SPECIFICATIONS
A.LUMP SIZE: MINIMUM 100 PERCENT PASSING AS THROUGH AN 8'' RING
B.SPECIFIC GRAVITY: 4.22 MINIMUM (PER API SPEC. 13A, SECTION 7)
C.EXTRACTABLE CARBONATES: 3,000 MG/L MAXIMUM (PER BHI SPEC. 30012, 30012.6)
D.EXTRACTABLE SULFIDES: 50 MG/L MAXIMUM (PER BHI SPEC. 30012, 30012.7)
E.MERCURY: 1 MG/KG MAXIMUM (PER EPA METHOD 7471A)
F.CADMIUM: 3 PPM MAXIMUM (PER EPA METHOD 6010B)
G.ARSENIC: 40 MG/KG MAXIMUM (PER EPA METHOD 6010B)
H.LEAD: 1,000 MG/KG MAXIMUM (PER EPA METHOD 6010B)
I.SOLUBLE ALKALINE EARTH METALS (CA++): 250 MG/KG MAXIMUM (PER API SPEC. 13A,
SEC. 7)
J.MOISTURE LESS THAN 1 PERCENT (PER API SPEC. 13A, SEC. 7)
+BENEFICIARY CERTIFICATE IN ONE ORIGINAL AND ONE COPY STATING THAT 2/3 SET OF
ORIGINAL MARINE/OCEAN BILL OF LADING PLUS 1 PHOTOCOPY OF THE ORIGINAL COVERING A
PORT TO PORT SHIPMENT CONSIGNED TO THE ORDER OF BAKER HUGHES
OILFIELD OPERATIONS INC
2001 RANKIN ROAD
HOUSTON, TEXAS 77073
MARKED NOTIFY :BAKER HUGHES OILFIELD OPERATIONS INC
2001 RANKIN ROAD
HOUSTON, TEXAS 77073
INDICATING THE NAME OF THE CARRIER, AND INDICATING THE GOODS HAVE BEEN LOADED ON
BOARD OR SHIPPED ON A NAMED VESSEL AND MARKED FREIGHT PAYABLE AS PER CHARTER
PARTY, AND COMMERCIAL INVOICE IN TWO ORIGINALS, PACKING LIST IN TWO ORIGINALS,
CERTIFICATE OF ORIGIN IN TWO ORIGINALS, AND THIRD PARTY INSPECTION CERTIFICATE
IN TWO ORIGINALS INCLUDING CERTIFICATE OF QUANTITY AND QUALITY