China Armco secures supply of Brazilian manganese ore

China Armco Metals Inc. has announced that Armco & Metawise Ltd, the company's wholly-owned subsidiary, has entered into a contract to purchase 749 , 000 metric - tonnes of Brazilian manganese ore fines over the next 16 months, which could result in sales of up to $180 million over the contract period based on current market prices for manganese ore of this type. The company previously reported that Armet Renewable Resource Company had signed a contract to supply a major Chinese steel producer with up to 230,000 tonnes of scrap steel in 2010. The contract calls for the delivery of up to 23,000 metric-tonnes of scrap steel per month for 10 months beginning in March of 2010. That press release stated that based on the current spot price of scrap steel, this supply contract is valued at over $100 million.Adidas POD Boost