SOURCE: Cotton & Western Mining, Inc.

April 27, 2010 07:30 ET

CWRN: "Crude Iron Ore Spot Prices on CFR Basis Remain Strong $177.42"

HOUSTON, TX--(Marketwire - April 27, 2010) - Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- Robert L. Cotton, President of Cotton & Western Mining, Inc., announced today that the company is expected to begin operations at the Baja Pacific Mining Project before the end of May 2010. The company was asked to make a specification shipment of crude iron ore in lump for mill procedures prior to starting full production. The company shall offer to the China Seaborne Trade Spot Sales (Single Shipment Contracts) its first six (6) months of crude iron ore production at the Baja Pacific Iron Mineral Mining Project. "Spot Sales" Monday's price settled at $177.42 per Dry Metric Ton delivered "CFR Basis" the Port of Qingdao, The People's Republic of China, near $20.00 higher per dry metric ton over the past two weeks. Bulk shipments will be loaded out at the Pacific Ocean Port of Ensenada, Baja California, Mexico. At current prices, a single Panamax bulk cargo (75k/dmt) shipment would be approximately $13,000,000.00. Pan American Minerals Ventures, S.A. de C.V., a Joint Venture Company, shall be the operating company for the Baja Pacific Iron Ore Mining Project. The Company's website is currently receiving several requests daily for Iron Ore as the demand for Spot Sales remains very high.

Related News: The Spot Crude Iron Ore Price for the China Seaborne Trade remains strong as reported on Monday, April 26th, 2010 at CFR $177.42 per dry metric ton Port of Qingdao. Daily index prices may be viewed at the Metal Bulletin link below. 

Metal Bulletin Iron Ore Index Link http://www.mbironoreindex.com/ 

About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) is a Nevada Corporation that is engaged in metal mineral exploration, development and operations of "Iron Mineral Mining." 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 Information

  • Contact:
    Cotton & Western Mining, Inc.
    363 North Sam Houston Parkway East
    Suite 1100
    Houston, Texas 77060 USA
    www.cottonwestern.com
    +1(281)820-7815