Chromite is an oxide mineral composed of chromium, iron, and oxygen (FeCr2O4).
Chemical Classification
Oxide
Chemical Composition
FeCr2O4 with magnesium substituting for iron in significant amounts
Crystal System
Isometric
Uses
An ore of chromium
Properties of Chrome Ore:
Chrome ore, primarily consisting of chromite (FeCrO), is rich in iron, chromium, and oxygen. is a mineral that serves as the main source of chromium. Chromium is a critical element used in various industries.
Appearance: It usually appears as dark gray to black with a metallic luster.
Hardness: It's relatively hard, with a Mohs hardness of 5.5.
Density: High density, which makes it useful in heavy-duty industrial applications.
Mining and Production:
Mining Process:
Open-pit Mining: Suitable for deposits near the surface.
Underground Mining: Used for deeper deposits.
Ore Processing: Chrome ore is processed into ferrochrome (an alloy of chromium and iron) through smelting in an electric arc furnace. This is a crucial material in stainless steel production.
Applications:
1.Stainless Steel: Chromium gives stainless steel its corrosion-resistant properties. Nearly 80% of the world's chromium is used in this sector.
2.Refractories: Chrome ore is used to manufacture heat-resistant bricks and lining for furnaces.
3.Chemical Industry: Used to produce chromium chemicals for pigments, tanning leather, and anodizing aluminum.
4.Foundry Sand: Processed chrome ore is used in mold-making during metal casting.
Bauxite, an aluminium ore, is the world’s main source of aluminium. It consists mostly of the minerals gibbsite, boehmite and diaspore, mixed with the two iron oxides goethite and haematite.
1.1 The Buyer issues the LOI.
1.2 The Seller issues the FCO to the Buyer.
1.3 The Buyer signs and seals the FCO, then returns it to the Seller.
1.4 The Buyer returns the FCO with the Irrevocable Corporate Purchase Order (ICPO), Proof of Funds (POF), and the Seller's bank details.
1.5 The Seller issues the draft Sales Purchase Agreement (SPA) to the Buyer.
1.6 The Seller and Buyer sign the final contract (SPA).
1.7 The Buyer issues the SBLC, which will be visible to the Seller's bank.
1.8 The Buyer is responsible for providing its own inspection team on board the cargo ship. 1.9 The seller will be responsible for shipping the bauxite to the buyer's port of destination.
1.10 60 days after the seller's bank confirms receipt of the SBLC, the seller will begin loading the first vessel.
