PT.

KORINA UTAMA

Jalan Cak Doko No.18C OEBOBO KUPANG Propinsi NTT Telp/Fax: 0380 - 831899, E-mail : mhchoi06@yahoo.co.kr

Sales Contract
This contract made and entered into this 10th day of May, 2011 BETWEEN Dalian Jinhui Import and Export Co., Ltd., Rm. 1019 Harbour Mansion No. 12 Changjiang Rd. Zhongshan Distric Dalian, China (hereinafter called "Buyer") OF THE ONE PARTY AND PT. Korina Utama, jl. Cak Doko 18C, Kel. Oebobo Kec. Oebobo, Kupang 85111, NTT, Indonesia (hereinafter called Seller) OF THE OTHER PARTY for the sale and purchase of the Commodity defined hereinafter. NOW THEREFORE in consideration of the promises and the mutual covenants and agreement herein contained, the parties hereto agree as follows: 1. DEFINITION F.O.B MONTH : Cost, Free ON Board : Calendar month

Metric Ton : 2,204.62 lbs or 1,000 kilograms

2. COMMODITY Manganese Ore (hereinafter called "Commodity") 3. SPECIFICATION Mn>45%, Fe<5%, SiO2<5%, Al2O3<3.5%, P<0.1%, S<0.1% 4. USAGE For FerroAlloy 5. QUANTITY

120,000 MT/year 6. SHIPMENT Seller shall monthly deliver 10,000 MT/month from 10th July, 2011 to 9th June 2014 7. PRIORD OF CONTRACT 3 years 8. DELIVERY In container, F.O.B Atapupu port/ Indonesia 9. PRICE F.O.B USD250/MT 10. PERIOD OF QUOTATION Period of quotation shall be the first month after the month of arrival of the carrying vessel at discharge port. For this propose, the date on which the carrying vessel officially reports to customs at the discharge port shall be taken as the date of arrival. 11. PAYMENT Buyer shall make a payment to Seller in US dollars for 100% invoice value by Irrevocable Letter of Credit or T/T. L/C shall be opened at least 6 days before expected B/L date which shall be informed by Seller. 12. FREIGHT AND INSURANCE Freight and Insurance shall be covered by Buyer.

13. FORCE MAJEURE In the event of any strikes, act of God, war, warlike operations, force majeure, lock out, combination of workmen, interference of trade union, suspension of labor, fire, accident, lack of railroad or sea borne freight facilities or delays en route or of any other case whatsoever beyond the control of Seller or Buyer whether of the foregoing nature or not, preventing them or hindering them, or either of them from giving or receiving them delivery under this Contract shall be suspended during such time as any such inability by either party hereto continues. By giving notice under this clause, the contract shall be each time extended for a period equal to the period of suspension. But if such period of suspension extends for more than 90 days, the party having received such notice may terminate this Contract forthwith by giving notice to the other party. 14. ARBITRATION All disputes in accordance with this Contract shall, unless amicably settled between the parties, be finally settled under the rules of conciliation and arbitration of Indonesian Commercial Arbitration Board in Jakarta, Indonesia. 15. TARIFFS, TAXES AND DUTIES All tariffs, taxes and duties whether existing or new on commodity, commercial documents relating thereto shall be borne by Buyer in the event of their existence in China in which the commodity is discharged. Any export taxes or duties whether existing or new levied in the country of origin shall be borne by Seller.

16. SUSPENSION OF QUOTATIONS The price quotations specified under this contract are currently the quotations in general use for the pricing of commodity. In the event that any of these price quotations ceases to exist, ceases to be published or should no longer be internationally recognized as the basis of commodity, then upon the request of either party, Buyer or Seller will promptly consult together with a view to agreeing on a new pricing basis and on the date

for bringing it into effect. The basic objective shall be to secure continuity of fair pricing. 17. EQUITY In entering into this Contract, Seller and Buyer recognize that it is impractical to make provision for every contingency which may arise during the life of this Contract. Seller and Buyer concur in the principle that this Contract shall be carried out between the two parties with fairness and without detriment to the Contract. If any infringement of this principle is anticipated or disclosed, then Seller and Buyer shall promptly confer in good faith with each other to agree upon such an action as may be necessary to remove the clause or clause of such infringement.

For and on behalf of

For and on behalf of PT. Korina Utama

Dalian Jinhui Import and Export Co., Ltd.

By: Park Hongok Title: President

By: Choi Minho Title: President of Director