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| Item   |   | Name   | Country      of Incorporation                                                                                                  |
|--------|--------|--------|--------------------------------------------------------------------------------------------------------------------------------|
|   | 1.     |   | China      Direct Investments, Inc., a wholly owned subsidiary of China Direct      Industries, Inc.                           | USA      - Florida |
|   | 2.     |   | CDI      China, Inc., a wholly owned subsidiary of China Direct Industries,      Inc.                                          | USA      - Florida |
|   | 3.     |   | CDII      Trading, Inc., a wholly owned subsidiary of China Direct Industries,      Inc.                                       | USA      - Florida |
|   | 4.     |   | International      Magnesium Group, Inc., ., a wholly owned subsidiary of China Direct      Industries, Inc.                   | USA      - Florida |
|   | 5.     |   | International      Magnesium Trading Corp., a wholly owned subsidiary of International      Magnesium Group, Inc.              | Brunei |
|   | 6.     |   | CDI      Shanghai Management Co., Ltd., a wholly owned subsidiary of CDI China,      Inc.                                      | China |
|   | 7.     |   | Capital      One Resource Co., Ltd., a wholly owned subsidiary of CDI Shanghai      Management Co., Ltd.                       | Brunei |
|   | 8.     |   | Shanghai      Lang Chemical Co., Ltd. a 51% majority owned subsidiary of CDI China,      Inc.                                  | China |
|   | 9.     |   | Taiyuan      Changxin YiWei Trading Co., Ltd., a wholly owned subsidiary of Taiyuan      Chang Magnesium Co., Ltd.             | China |
|   | 10.    |   | Excel      Rise Technology Co., Ltd., a Brunei company and a wholly owned subsidiary      of Taiyuan Chang Magnesium Co., Ltd. | Brunei |
|   | 11.    |   | CDI      Magnesium Co., Ltd., a 51% majority owned subsidiary of CDI China,      Inc.                                          | Brunei |
|   | 12.    |   | Asia      Magnesium Corporation Ltd., a wholly owned subsidiary of Capital One      Resource Co., Ltd.                         | Hong      Kong |
|   | 13.    |   | Shanxi      Gu County Golden Magnesium Co., Ltd., a 52% majority owned subsidiary of      Asia Magnesium Corporation, Ltd.     | China |
|   | 14.    |   | Pan      Asia Magnesium Co., Ltd., a 51% majority owned subsidiary of CDI China,      Inc.                                     | China |
|   | 15.    |   | Baotou      Changxin Magnesium Co., Ltd., a 51% majority owned subsidiary of CDI      China, Inc.                              | China |
|   | 16.    |   | CDI      Jingkun Zinc Industry Co., Ltd., a 95% majority owned subsidiary of CDI      Shanghai Management,                     | China |
|   | 17.    |   | CDI      Jixiang Metal Co., Ltd., a wholly owned subsidiary of CDI China,      Inc.                                            | China |
|   | 18.    |   | Shanghai      CDI Metal Recycling Co., Ltd., an 83% majority owned subsidiary of CDI      Shanghai Management Co., Ltd.        | China |
|   | 19.    |   | CDI      (Beijing) International Trade Co., Ltd., a 51% majority owned subsidiary      of CDI Shanghai Management Co., Ltd.    | China |