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28. March 2011

China Armco Metals and Mineracao Usiminas ink iron ore supply deal

Supplier of imported metal ore, China Armco Metals proclaimed that it has supplied its first consignment of 150,000 tonnes of iron ore worth USD 19.8 million from Mineracao Usiminas, a Brazil based steel manufacturer.

As per the supply agreement, China Armco Metals will deliver 9.5 million tonnes of steel annually and is the first company to help Mineracao Usiminas to supply its iron ore to China. The first shipment paves the way for a long term affiliation between the two firms. Both companies concluded the distribution deal in Brazil.

Mr Kexuan Yao Chairman and Chief Executive Office of China Armco Metals expressed his happiness about the distribution agreement with Mineracao Usiminas.

He said that Mineracao Usiminas plans to supply 3 million tonnes of iron ore in 2011 and approximately 20 million tonnes of iron ore in 2012 to China. China Armco Metals’ strategic partnership with Mineracao Usiminas would increase its profit and strengthen its metal distribution footprint in China.

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