Ross Friedman, Vice President of CDII Minerals, stated, "We are excited to have reached this agreement with GRAMCE as well as to have our partners at MAPSA take an active role in working to increase their production capacity.
Carmen Aramayo, General Manager of GRAMCE, said, "We are very excited to work with CDII Peru.
CDII Peru has contracted Sea Brokers Peru as their exclusive shipbroker for all shipping services related to this agreement.
The inspection results indicate the iron ore meets all requirements including the hematite content for CDII Peru's Chinese buyers.
These initial container shipments of iron ore were sourced from inventory purchased by CDII Minerals through its off-take agreements in Bolivia.
Dani Pick, MSM, General Manager of CDII's Minerals' Bolivian subsidiary, EMPRESA MINERA CDII DE BOLIVIA S.
Ross Friedman, Vice President of CDII Minerals, stated, "We are excited to now be in full partnership with MAPSA as we work together to further this important project in Peru.
MAPSA has pledged approximately 178,000 acres of its concessions to CDII Minerals in order to obtain large scale foreign investment from China with the hopes of developing the iron mining industry as well as the semi-finished steel products industry in southern Peru.
Ross Friedman, Vice President of CDII
Minerals in Peru at 51998389882 or email at ross.
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.
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.
Minerals received 95% of the contract price on February 1, 2013 and will receive the remaining 5% upon the vessel being unloaded in China.