September 24, 2017 1:53 PM ET

Metals and Mining

Company Overview of Adamant DRI Processing and Minerals Group

Company Overview

Adamant DRI Processing and Minerals Group produces and sells direct reduced iron for use as feedstock to steel manufacturing and processing industries in the People’s Republic of China. It owns an iron ore concentrate production line on the Zhuolu Mine, which is located in Zhuolu County, Hebei Province. The company also intends to produce direct reduced iron using advanced reduction rotary kiln technology with iron sand as the principal raw material. Adamant DRI Processing and Minerals Group is based in Zhangjiakou, the People’s Republic of China.

Chunshugou Luanzhuang Village

Zhuolu County

Zhangjiakou,  075600

China

131 Employees

Phone:

86 31 3673 2526

Key Executives for Adamant DRI Processing and Minerals Group

Chief Executive Officer and Director
Age: 54
Compensation as of Fiscal Year 2016.

Adamant DRI Processing and Minerals Group Key Developments

Adamant DRI Processing and Minerals Group Wins $5 Million Purchase Order

Adamant DRI Processing and Minerals Group announced it has secured a supply contract with JiangSu YanCheng YunQiJia Trading Co. The purchase order calls for delivery of minimum 25,000 tons, high quality DRI (88%-92% iron content) at prices ranging between 1,400-1,800 RMB/ton (approximately $209-$269/ton) within 2017, potentially generating sales of $5 million. This is the company's first substantial order, and booked revenue, since it shut down in 2015 for a coal-to-natural gas power conversion and production overhaul intended to comply with strict Chinese environmental regulation, transforming the Chinese steel industry.

Adamant DRI Processing and Minerals Group Provides Revenue Guidance for the Year 2017

Adamant DRI Processing and Minerals Group announced that given the completion of the conversion to natural gas and the upgrade of the company’s plants, the company reaffirmed its overall business outlook for 2017, which calls for revenue of $16 million to $20 million.

Adamant DRI Processing and Minerals Group announced delayed annual 10-K filing

On 03/31/2017, Adamant DRI Processing and Minerals Group announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Recent Private Companies Transactions

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