CD International Subsidiary Completes Supply Agreement with Peruvian Mining Company to Distribute Iron Ore Three-year agreement calls for delivery of a total of up to 1.28 million metric tons with the first shipment in the first quarter of 2014
Online PR News – 21-November-2013 – Boca Raton, Florida – 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 Minerales Peru SAC ("CDII Peru"), a jointly owned subsidiary of CD International and Minera Mapsa S.A., has entered into a three year agreement with GRAMCE MINERALS RESOURCES SUR PERU SAC ("GRAMCE") for GRAMCE to supply a total of up to 1.28 Million Metric tons of iron ore to CDII Peru for ultimate distribution into China.
In conjunction with the completion of the agreement, Mr. Fernando Bayona Pelaez, President of CDII's joint venture partner in Peru, Minera Mapsa SA ("MAPSA"), has agreed to acquire a 50% equity interest in GRAMCE in an effort to increase its production. GRAMCE currently has operations located throughout the Central and Southern regions of Peru, with a focus in the regions of Moquegua, Puno, Arequipa, Ica and Apurimac.
Commenting on the supply agreement, Mr. Ross Friedman, Vice President of CDII Minerals, stated, "We are excited to have reached this agreement with GRAMCE as well as to have our partners at MAPSA take an active role in working to increase their production capacity. We are confident this will help to maximize potential revenues for CDII Peru as we seek to exploit the vast potential of the iron ore market in China. We believe this agreement also serves as further validation that our Company has become a serious force in Peru as we position ourselves to become one of the largest producers of iron in the country's history as we continue to work toward our goal of establishing a stable long-term, supply of iron ore sourced from Peru to our top customers in China."
Also commenting on this agreement, Mrs. Carmen Aramayo, General Manager of GRAMCE, said, "We are very excited to work with CDII Peru. With their support we can achieve our goal to become a capable exporter and producer of iron ore who can supply consistent quantities on a monthly basis. The partnership will create a win-win situation for both companies to become one of the major iron ore suppliers in Peru 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 http://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.:
CD International Enterprises, Inc.
Phone: +1-954-363-7333 Ext. 316
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