exhibit 10. 26 of mining right assignment contract in qinghai province contract no. : 2005 - 1 assignor : department of land resources of qinghai province assignee : qinghai zhongtian boron lithium mining co. ltd. signing place : department of land resources of qinghai province signing date : january 5, 2005 mining right assignment contract assignor : department of land resources of qinghai province address : no. 24, shengli road, xining city assignee : qinghai zhongtian boron lithium mining co. ltd. address : no. 3, renmin west road, dachaidan, haixi prefecture according to law of the people's republic of china on mineral resources, contract law of the people's republic of china, regulations on mineral resources management in qinghai province and relevant laws and regulations, both parties sign the contract for the principles of equality, voluntariness, honesty and trustworthiness. article i the assignee obtains the mining right of dachaidan lake boron mine ( part of ore section ) through the method of transfer. article ii the mining right is in dachaidan lake, haixi prefecture, qinghai province, the mining area is 35. 6972 square kilometers, the mining depth is from 3147. 37 m to 3134. 37 m and the mining area where the mining right is transferred is delineated by 4 inflection points ( see the copy of mining license ). article iii the term of assignment of mining right is 33 years ( from august 2004 ) and the mining right will be reclaimed by the state upon the expiration. article iv the mining right shall not be transferred without authorization. in case of transfer, it must be approved by registration authority and it can be transferred after handling the transfer procedures in accordance with the law. article v the assignee must pay the fee of mining right on time in accordance with the contract. if the consignee fails to pay the fee of mining right on time within the prescribed time limit, the assignor shall receive 2 ‰ fine for delaying payment of the deferred payment daily from the day of delay. if one of the payment is 3 months overdue, the assignor has the right to terminate the contract, take the mining right back and the assignee shall bear other losses caused by breach of contract. article vi after receiving the mining license, the assignee must mine it by self, shall not contract or transfer