|From: QualityStocks (Rep: 4)||Date: 05/24/2017 18:32|
|Forum: China Direct, Inc. - Msg #1913||Thread #673929311 (Rec: 0) |
|QualityStocksNewsBreaks – CD International Enterprises, Inc. (CDII) Enters Full Corporate Offer to Purchase 1.2 Million Tons of Bauxite|
CD International Enterprises, Inc. (OTC: CDII), a U.S.-based company that sources industrial commodities and provides business and management corporate consulting services, this morning announced its entry into a full corporate offer with a Dominican Republic-based company for the monthly purchase of 100,000 tons of metallurgical-grade bauxite. Per the terms of the offer, CDII will be required to purchase 100,000 metric tons of bauxite per month for an initial period of 12 months, equating to a total shipment of 1.2 million metric tons. This contract is valued at approximately $37 million based on current FOB prices at Cabo Rojo, Dominican Republic. “We are pleased to enter into this agreement on the heels of signing a separate offer to purchase copper cathodes, valued at approximately $330 million,” Dr. James Wang, chairman and CEO of CDII, stated in the news release. “As part of sourcing a variety of industrial commodities for our clients in China, we are advancing our newly established business model and leveraging our existing connections in China. Upon a successful delivery of bauxite to our clients in China, we believe we will enter a new level of business.”
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