2013-10-22 17:11:47 - CD International Subsidiary Completes Supply Agreement with Peruvian Mining Company to Distribute High Grade Iron Ore to End Markets in China. Three-year agreement calls for delivery of up to 1.2 million metric tons
CD International Enterprises, Inc. ("CD International") (OTCQB: CDII), a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas, and provides business and financial corporate consulting services, today announced that CDII Minerals Peru SAC ("CDII Peru"), a jointly owned subsidiary of CD International and Minera Mapsa, S.A., has entered into a supply agreement with a Peruvian mining company ("PMC") to distribute high-grade (over 63.5%) hematite iron sourced from the Apurimac region in Peru.
Under the terms of this agreement, PMC will provide 30,000 to 35,000 metric tons of iron ore on a monthly basis over a three-year period. The ore will be transported and loaded via the port of Pisco, located in Peru's central region for
ultimate bulk shipping to China. Both parties anticipate commencing shipments in late December 2013. CDII Peru has contracted Sea Brokers Peru as their exclusive shipbroker for all shipping services related to this agreement.
CDII Peru recently received delivery of approximately 2,000 tons of iron ore for inspection testing at its patio near the Pisco Port. The iron ore was inspected by COTECNA del Ecuador, S.A., a highly regarded international inspection agency. The inspection results indicate the iron ore meets all requirements including the hematite content for CDII Peru's Chinese buyers. This contract represents another step forward in CD International's plans to focus more of its efforts and resources on furthering its minerals sourcing and distribution business in Peru, Bolivia and Chile for ultimate delivery into China.
Commenting on this agreement, Dr. James Wang, CEO of CD International, stated, "After a number of years of hard work in establishing our operations in South America we are now beginning to see the rewards. We are very pleased to enter into this supply agreement as it furthers our ability to exploit our expertise in working with end buyers in China to meet their demand for South American minerals. We have seen a recent resurgence in China's demand for iron ore in recent months as reflected by rising spot market prices. We intend to work diligently to establish additional relationship in Peru to further expand our sourcing capabilities in the region in the coming months. Upon commencement of delivery, we anticipate this supply agreement has the potential to bring significant revenue and cash flow to CD International for years to come."
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTCQB: CDII) is a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas, and provides business and financial corporate consulting services. Headquartered in Deerfield Beach, Florida, with corporate offices in Shanghai, CD International's unique infrastructure provides a platform to expand business opportunities globally. For more information about CD International, please visit www.cdii.net
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, CD International Enterprises, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations regarding CDII Peru's operations in Peru, our ability to source and sell iron ore, our ability to arrange financing for these operations, fluctuations in demand and pricing for iron ore, our expectations regarding profits, if any, and future operating results of CD International and its subsidiaries.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2012.
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