DEERFIELD BEACH, Fla., Feb. 20, 2013 /PRNewswire/ -- 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 its CDII Minerals subsidiary has begun delivery of 10,000 metric tons of iron ore produced in Ecuador to a major Chinese trading company. The company expects to complete delivery of the iron ore, to be shipped out of the port of Guayaquil Ecuador, in the next two weeks.
CDII Minerals purchased the 10,000 metric tons of iron ore through a subsidiary of a local Ecuadorean mining operation and upon successful completion of this shipment CDII Minerals expects to complete negotiations for an ongoing distribution arrangement with the Chinese trading company to ship iron ore from Ecuador into China on a monthly basis. Management of CDII Minerals believes it will have the capability to source and distribute approximately 30,000 metric tons of iron ore per month out of Ecuador for delivery to the Chinese trading company upon reaching a final distribution agreement.
Commenting on the expansion into Ecuador, Seth Berkowitz, Vice President of CDII Minerals, stated, "Expansion into Ecuador represents another major step forward for our company. By continuing to solidify a footprint in Latin America we can methodically build our distribution capabilities enabling us to become a distributor of choice into the China marketplace. We intend to work diligently to complete the next steps toward an ongoing relationship with our Chinese customer to help us rapidly build our revenue from this country and build this segment of CD International's business into a profitable world class organization."
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