CD International Enterprises Inc (OTCMKTS:CDII) Receives Purchase Order Worth $350 Million
CD International Enterprises Inc (OTCMKTS:CDII) announced that it had received a purchase order of Copper Concentrate to be delivered over a period of two years. As per the reports, the PO comprises of 240,000 Tons copper concentrate and is worth around $350 million.
As per the terms and conditions of the purchase order, CD International Enterprises will outsource 10,000 tons of copper concentrate every month for a total period of 24 months. If taken into consideration the current spot price of copper, the total value of this purchase order comes around $350 million. The senior management of the company doesn’t want to leave any stone unturned; therefore, it has decided to source the concentrate in Peru and Chile. If everything falls in line, the delivery of copper concentration shall start in 2016.
At present, CD International doesn’t have enough funds to take care of the entire proceeds; hence, it will use the Letter of Credit that’s issued by its buyer. To earn the confidence of suppliers, it will transfer a portion of this LOC to them. There’s no need for additional funds.
Senior management is excited to announce this update and hopes that it will mark a new beginning for CD International and help the company to touch newer heights. According to Dr. James Wang, CEO & Chairman, CD International Enterprises Inc (OTCMKTS:CDII), everyone at the company is excited to receive this PO. Over the past many years, the company has delivered copper concentrate from Bolivia and Chile to many buyers in China over the last many years.
The senior management team has been working very hard to find a perfect fit between suppliers in China and South America and strategically proceed ahead to make the best use of the prevailing market opportunities. This experience will help the company fulfill the current assignment without any hassle over the next 24 months.
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