Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- China's Iron Ore Imports rose 3.4% in June to the second highest level this year, as rising prices prompted steelmakers to expand output and buy more raw materials.

Imports were 55.3 million metric tons (MMT) for June, the Chinese General Customs stated on its website http://www.customs.gov.cn/publish/portal0/. That's 3.4% more than the 53.5 mmt in May and 46% higher than a year ago, according to Bloomberg data. More information on this report can be read at http://www.bloomberg.com/apps/news?pid=20601012&sid=aq9891I0gFwo.

CWRN has no immediate plans to seek a higher fixed annual price as the 2009 prices have been agreed upon with an un-named buyer. Current FOB annual contract pricing is $45.00 per each Dry Metric Ton (DMT) shipped while one-off Spot Sales now at $76.50 CIF in main China ports on base Fe content of 62%. Cotton & Western is expected to open production at 52,000 DMT per month, which will be shipped from the Pacific Ocean Port of Ensenada, Baja California, Mexico.

Cotton & Western Mining recently projected revenues in excess of $126 Million based on an agreed base price of $45.00 FOB Mexico, per each dry metric ton sold on a guaranteed 64.5% Fe (iron content) with bonus payment of $0.6976 for each 1% Fe content above the minimum contract specifications. The average Fe content as tested in 2008 for Baja NO. 14 is 67% Fe content.

About Cotton & Western Mining, Inc.

Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) was founded in early 2005 as a Nevada Corporation by Robert L. Cotton, with a specific plan and goal in mind; that being, to operate a low cost and high profit junior "Iron Mineral Mining" company. Cotton & Western Mining's mission is to offer reliable, high-quality and cost effective raw materials to the steel manufacturing industry on a global scale. For more information, please visit the company's website at www.cottonwestern.com.

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

Contact: e-media Direct, Inc. Investor Relations (866)284-2835 info@e-mediadirect.com

Cotton and Western Mining (GM) (USOTC:CWRN)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Cotton and Western Mining (GM) Charts.
Cotton and Western Mining (GM) (USOTC:CWRN)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Cotton and Western Mining (GM) Charts.