PAYMENT FORMULA FOR EXTRACTION OF COPPER AND MOLYBDENUM Clause Samples

PAYMENT FORMULA FOR EXTRACTION OF COPPER AND MOLYBDENUM. 1. Payment Formula for the Extraction of copper.‌ The payment formula for the Processing Right for the Extraction of Copper from the tailings contained in the Cauquenes Deposit is the following: Where: · PCuBML: Cu Price on the London Metals Exchange (US$/t) · fCQ: Cauquenes Operation Factor which considers Grade and Recovery of total copper (CuT). This factor will be calculated multiplying the grade of CuT, by the recovery of CuT from the process. These are initially estimated at 0.265% and 49%, respectively, and will be reviewed every six months. · Te: extracted tonnage (t/month) · r: Participation by DET in the gross revenues of ▇▇▇▇▇▇ ▇▇▇▇▇ Central from the sale of copper concentrate extracted from the tailings contained in the Cauquenes Deposit in a given period (monthly). It is measured as a [%] and defined for copper prices between the range of 195 to 550 cUS$/lb. The percentage will consider the fourth decimal rounded from the fifth and will be applied as follows:
PAYMENT FORMULA FOR EXTRACTION OF COPPER AND MOLYBDENUM. ‌ The payment formula associated with the extraction of copper derived from the exploitation of tailings contained in the Colihues Deposit, does not vary from that agreed to in the Colihues Contract (CT-9500), which is included as Annex N° 2 of this Agreement, and which forms an integral part of this Agreement, for all legal effects. The payment formula for the extraction of molybdenum derived from the exploitation of derived from the exploitation of tailings contained in the Colihues Deposit of División El ▇▇▇▇▇▇▇▇, will come into force from the date of the start of the operation for the exploitation of the Cauquenes Deposit, or, at the latest, August 1, 2015, in accordance with that agreed in letter A) of the eighth clause of this Agreement. These formulas are the following:

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