China Direct Industries, Inc. (CDII), a
US based holding company with operations in
China and the
US focusing on pure magnesium production, distribution of basic materials and metal ores, has announced that its subsidiary CDII
Trading has completed delivery of 15,000 metric tons of
iron ore from its Mexican supplier to a major European industrial
trading company for the Chinese market.
CDII launched its
US-based international
trading operations in July 2009. Over the past year, CDII
Trading has entered into
iron ore supply agreements in
Mexico, Chile and Bolivia, for delivery to
China. After completion of the delivery from
Mexico, CDII expects to begin recurring shipments of
iron ore from
Mexico and to begin shipments from Chile and Bolivia to
China sometime in the third quarter, as it works to finalize logistical, production and financing arrangements with its suppliers.