The British Development Corporation

Iron Ore Procurement Contracts Assessments
Giuelith Timantti Ltd. Commodity

Responsible procurement policy and procurement processes with steel mills.

A new iron ore producer on competition in world markets against the backdrop of dramatic price increases over the past five years. Analysis of cases like these would benefit from a reliable organizational understanding of competitive strategies in iron ore markets and for the reason that welfare gains from productivity increases in both importing and exporting countries. Responsible mining is understood as mining operations applying the best international standards in terms of environmental and social management, health and safety improvements, energy efficiency and revenue transparency and stakeholder engagement. Through its involvement in the mining sector, the Giuelith Timantti Ltd. has an opportunity to promote environmentally and socially responsible mining across its portfolio and to provide examples of best international practice to the relevant governments in areas such as environmental and social management, health and safety improvements, energy efficiency and revenue transparency as guiding principles. Giuelith Timantti Ltd. recognises that mining and the revenues that flow from it can offer unique opportunities to develop more resilient and diversified local economies which will continue to prosper after the closure of the mining project. The bank’s and the mining companies involvement in these projects can be an important opportunity to help develop the mining value chain vertically through the promotion. Achieving long-term economic development through company-supported initiatives can be complex and challenging. Therefore successful initiatives meaning create shared value by aligning mining clients’ business goals with the development of the local business market. Also, quantitative analysis of trading behaviour is required to put these intuitive outsourcing into a framework that would enable alternative hypotheses to be tested rigorously. Analysis of this type has been applied to world markets. The greater simplicity and parsimonious data requirements of this approach brings dealing in materials advantages in trading patterns over several years that can be examined efficiently, and the method can therein be applied to other bulk commodities as well, even where little or no cost data are available. This method fully exploits the richness of bilateral trade data sets. Varies on cost schedules is been discussed earlier and we can see production costs and transport costs vary accross supplies. Therefore choice can be represented by CIF price and FOB price. Make the FOB price procurement applied to seaborne trade in iron ore and of practical preliminaries both CIF price and FOB price pertaining to iron ore procurement contracts assessments like this, including the product specification, pricing, value of trade, distances and transport costs. Market participants evaluate the premium each brand commands, incorporating chemical, physical and metallurgical properties, in large part based on prior knowledge of these properties and experience using the products. Moreover, with the provided iron ore procurement contract instrument the product specification will explain chemical properties of iron ore. Chemical properties vary between deposits. As the principal use of iron ore is the production of iron and steel, iron content is the principal determinant of the value of the ore. Pricing makes a distinction between iron ore "fines" and "lump". The latter is more valuable, other chemical properties being the same, but the former is more commonly traded. Various common contaminants, such as silicon, aluminium, phosphorus and sulphur have some effect on the value of iron ore from a particular deposit as they affect the properties of steel made from the ore or may lead to additional processing costs. All these parameters is been determined for to short run cost efficient iron ore procurement contracts, demand, and sustainable and risk free dealing in materials of certain origins. Therein this priority in first case at the Giuelith Timantti Ltd. office in London, UK reflects a methodology of estimating exporter costs and importer demand characteristics for bulk commodities from bilateral data on the value of trade, coupled with data on shipping costs and distances to the starting point where is aimed activity to negotiate contract prices annually to establish an FOB benchmark price that then apply to all contract sales. Meaning an outmost realistic coorelation for any fixed price may be applied relationsships between iron ore prices and world crude steel production. The second priority is dealing spot supplies to a growing demand in the world market. The purpose of thus agreement is to demonstrate the conditions under which it might be optimal for the buyer and to make the procurement contract instrument rely on the linearity of the importers demand for the commodity, and competitiveness among exporters.

Iron Ore Procurement Contracts

Quality: This standard allows to ensure consistency in the price normalization process.

Iron Content (Fe): 62%

Moisture: 8%

Loss on Ignition:

Silicon Dioxide: 3.0%

Alumina: 1.5%

Phosphorus: 0.075%

Sulfur: 0.02%

Impurities normalization:


Size of concentrate:

Size of pellets: (Iron ore blast furnace pellets).

Size of fines:

Quantity: Min. parcel size 50,000 metric tonnes.

Location: Freight differentials and FOB.

Timing: Delivery within 2-8 weeks from date of publication.

Payment: 100% payment at sight.

Unit of assessment: US Dollars per dry metric ton.

Statement of Procurement Practice:

Lump premiums vary from company to company, depending on when agreements are reached, brands, volumes, and whether they are negotiated as a package with other products.

Metallurgical properties have not been specified in line with current spot trading convention.

Here is been determined specific export terminals from the main iron ore shipping countries, wherein distances can be viewed from this link.

Transport costs in the Baltic Dry Index can since 1985 be viewed at

Price changes to offers will be considered in the assessment process only if the improvements in the price of offers are incremental in nature.

We considers transactions, bids/offers and market indications that are reflective of typical conditions and originating from sources deemed reliable.

Giuen Invest Management Ltd. (GMOL)

Stron House 100 Pall Mall

SW1Y 5EA London, UK

VAT: 07371355


Roger K. Olsson



About the Author

Roger K. Olsson is based in London and leads the metals and mining division of the commodity trading and mangement group. He has more than 20 years of experience as an industry executive and consultant to the global metals and mining industries. He works with leading companies in the areas of strategy, management and acquistitions, bussiness intermediation and transformation. He is the founder of the Giuelith Timantti Limited and is a recognized specialist on mining issues and development.

Guidance documents last updated 2014-03-01

The Statement of Procurement Practice are a guide; thus are not intended to create any contractual obligations or rights. Giuelith Timantti Limited reserves the right to interpret its policies and to vary its procedures when it determines it is appropriate. Giuelith Timantti Limited may at its sole discretion change, make exceptions to, or discontinue any of the provisions in this document at any time, without advance notice.

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Giuelith Timantti Ltd. - Contract Negotiation Best Practice

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