DEERFIELD BEACH, Florida, February 16, 2016, CDII, /PRNewswire/ — CD International Enterprises, Inc. (“CD International”) (OTC: CDII), a U.S.-based company that sources industrial commodities and provides business and management corporate consulting services, today announced that CD International has entered into a long-term supply agreement with a U.S.-based mineral processing company to purchase iron ore fine (62% Fe).
Per the agreement, CD International agrees to purchase 100,000 metric tons of iron ore fine (62% Fe) per month over a period of 180 months. The total shipment over a period of 15 years will be 18 million metric tons of iron ore fine in total.
According to Chinese customs data, monthly imports of iron ore to China reached 96.27 million tons in December 2015, blowing away the previous monthly record high of 86.83 million tons set in January 2014. The enormous increase coincided with signs of continued inventory restocking at Chinese ports. As a result of the strong lift in December, total iron ore imports in 2015 to China soared to 953.36 million tons, also a record high. For more information, please visit http://www.businessinsider.com.au .
Dr. James Wang, Chairman and CEO of CD International commented on the agreement, “We are excited to enter this long-term supply agreement. This agreement could provide us a stable supply of iron ore fine for our clients in China. Upon a successful delivery of iron ore fine to our clients in China, we believe we are transforming our company into a new level. Under our new mineral trading model, we believe we can create a profit center while we limit exposure of our capital to market risk. We actively pursue new mineral suppliers for our clients in China in both South and North America. As we move forward, we believe we are well positioned to take advantage of increasing demand of iron ore by China in years to come.”
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTC: CDII) is a U.S.-based company that sources industrial commodities and provides business and management corporate consulting services. For more information about CD International, please visit http://www.cdii.net.
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