PLANTATION, Florida, July 12, 2017 /PRNewswire/ --
CD International Enterprises, Inc. ("CD International, or the Company") (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 purchase contract to purchase 10,000 tons of copper concentrate (30% Cu) per month or 120,000 tons over 12 months with a Chile-based company.
Per the purchase contract, CD International agrees to purchase 10,000 metric tons of copper concentrate (30% Cu) per month over a period of 12 months. The total shipment over a period of 12 months will be 120,000 metric tons of copper concentrate. The initial 12 months contract of 120,000 metric tons of copper concentrate values approximately US $260 million on basis of the current copper future price on the London Metal Exchange.
China imported 4.74 million metric tons of copper concentrate from Chile in 2016, up 26.7% year-on-year, the latest data released Tuesday by the General Administration of Customs showed.
Chile is China's top source of imported copper concentrate. China imported 17.05 million metric tons of copper concentrate in 2016.
Dr. James Wang, Chairman and CEO of CD International commented on the purchase contract, "We are very excited to enter this purchase contract, as we continue to source mineral commodity for our Chinese clients. We have delivered copper concentrate from Chile and Bolivia to China in the past, as demand by China for copper concentrate continues to grow substantially. Under our new mineral trading model, we are confident we can create a profit center while limiting exposure of our capital to market risk. We believe a successful completion of this transaction will fundamentally change our company's future for 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.
Disclosure Notice:
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, 2016.
Contact:
Peisha Shen
CD International Enterprises, Inc.
Email: info@cdii.net
SOURCE CD International Enterprises, Inc.
