Section 11: THE Company agrees that the term of the lease granted under the

Tonkolili Concession shall be reduced so that it will cease at the expiration of thirty years from the date of the first commercial shipment of iron ore won from the lands demised by the said lease PROVIDED that the Company shall have the right to require the Government when the said term shall cease to grant to it a new lease for a further term of thirty years upon such terms as to payments by the Company as may then be agreed or failing agreement as shall be settled by arbitration in accordance with the provisions of the United Kingdom Arbitration Act, 1950 but otherwise upon the terms of the lease granted under the Tonkolili Concession. The said new lease shall include a provision similar to that provided by this Clause for the grant of a further new lease for a term of thirty years from the expiration of the said new lease with a similar provision for renewal.