China Armco Metals, Inc. (CNAM) Announces Purchase of 749,000 Metric Tons of Brazilian Manganese Ore with Revenue Potential of $180 Million USD
China Armco Metals, Inc., a leading distributor of metal ore and non-ferrous metals and metal recycler throughout the People’s Republic of China, recently announced that the company’s wholly owned subsidiary, Armco & Metawise (H.K.), Ltd., has signed a contract to purchase 749,000 metric tons of Brazilian manganese ore fines. This supply of manganese ore has the potential of generating distribution revenue of $180 million USD over the next 16 months. Magnesium ore is in high demand; approximately 90 percent of the ore is for the production of iron-manganese alloys used in the steel industry, a sector that is currently experiencing…