DEERFIELD BEACH, Florida, February 10, 2016 /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 Capital Resources Management Corporation, a wholly owned subsidiary of CD International, has received a purchase order of 200,000 tons of iron ore per month or 4.8 million tons of iron ore for a period of 24 months from a China-based trading company.
Per the purchase order, CD International will source up to 200,000 tons of iron ore per month for a period of 24 months in a total of up to 4.8 million tons. With today's spot price of iron ore (62% iron ore fines) at approximately $42 per metric ton, CFR China, the purchase order has a potential value at approximately $200 million. Management has been sourcing suppliers in both North and South America to execute the transaction for our buyer.
Dr. James Wang, Chairman and CEO of CD International commented on the purchase order, "we are very pleased with this new purchase order to have an opportunity for further expansion of our mineral trading business. We launched our mineral trading business in 2010 by sourcing, purchasing and reselling iron ore from Mexico, Chile and Bolivia to our Chinese buyers. Since 2015, we decided to develop a new business model to mainly focus on sourcing for our buyers in China in order for us to reduce our capital exposure to market risk through back-to-back contracts. From 2014 to 2015, iron ore spot price has hit a major downside. However, as we believe spot price of iron ore stabilizes or improves in 2016, we will pursue more business opportunities to speed up our mineral trading business under our new business model. We believe a successful execution of this transaction can bring our mineral trading business to a new level by generating substantial profits for our company."
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.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, CD International Enterprises, Inc. ("CDII") 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 and the completion of agreements with other potential investors and partners for this effort, our ability to arrange financing, our expectations regarding profits, if any, and future operating results of CDII and growth in our operations.
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, 2015.
CD International Enterprises, Inc.
Phone: +1-954-363-7333, Ext. 325
SOURCE CD International Enterprises, Inc