Today before the opening bell, CD International Enterprises told investors that CDII Minerals, its wholly owned subsidiary, has successfully completed an initial shipment of Bolivian iron ore to a leading metals trading company in China.
These initial container shipments of iron ore were sourced from inventory purchased by CDII Minerals through its off-take agreements in Bolivia. The quality of the iron ore delivered was over 66.7% Fe iron grade hematite. According to inquires made with Chinese customs, this shipment of iron ore is believed to be the first commercial shipment of iron ore sourced from Bolivia in history to be successfully imported into China. With current trucking availability, CDII Minerals expects to begin shipping approximately 5,000 metric tons of Bolivian iron ore per month beginning in the current quarter and progressively ramping up shipping quantities in the coming quarters. CDII Minerals currently holds over 20,000 metric tons of fully paid inventory ready for shipment with the ability to source additional product via its off-take arrangements.
Mr. Dani Pick, MSM, General Manager of CDII's Minerals' Bolivian subsidiary, EMPRESA MINERA CDII DE BOLIVIA S.A. (NIT:211848025), stated, "We are pleased to finally have become the first organization in history to successfully deliver commercial quantity shipments of Bolivian iron ore to China. While we have faced numerous challenges since opening our Bolivian subsidiary in 2012, we are now in a position to steadily exploit this significant opportunity. In the current market environment, we intend to expand our efforts in the production and distribution of high quality Bolivian iron ore for the foreseeable future as we look to build a growing and profitable revenue stream for our company."
For more information, visit cdii.net
QualityStocks provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.qualitystocks.net