Deerfield Beach, Florida-based CD International Enterprises, Inc. announced Monday that it has entered into a framework agreement with Minera MAPSA S.A., a Peruvian mining and exploration company, to establish a joint venture to explore iron ore mining, distribution and production facilities opportunities in Peru.
Under the terms of the framework agreement, the joint venture will focus on the distribution and further exploration of MAPSA's mining concessions in southern Peru as well as the further distribution of iron ore from third party mining concessions. The two companies will each own 50 percent of the joint venture whereby profits derived through these efforts in Peru will be shared.
In addition, the joint venture will seek to partner with other entities to secure financing for its operations and to construct a pig Iron processing plant with an expected annual capacity of 500,000 metric tons near MAPSA's Sama mining concession in Peru. CD International has entered into early stage talks with potential investment partners in China for these opportunities.
CD International Enterprises, Inc. produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services.
