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.