- Business
- Adamant DRI Processing and Minerals Group (ADMG) operates as a minerals company focused on the mining, processing, production and sale of direct reduced iron (DRI) feedstock for China's steel manufacturing and processing industries; it utilizes advanced reduction rotary kiln technology with iron sand to produce high-quality DRI and iron ore concentrate. The company targets steel producers primarily in China, with historical operations centered in Zhuolu County, Zhangjiakou City, Hebei Province and Haixing County, Hebei Province. Incorporated in July 2014 as a Nevada corporation following a reverse merger with UHF Incorporated and headquartered at 99 East State Street, #202, Eagle, Idaho, ADMG previously provided digital implementation plans for exhibition centers before shifting to minerals activities.
In recent developments, ADMG entered into an acquisition agreement in July 2023 to acquire Parks Amusements LLC, which was amended in September and November 2023; however, the company terminated the deal on March 25, 2025 due to unmet conditions precedent, resulting in the cancellation of 70 million escrowed shares. The firm reports no significant current revenue or operations, maintaining a shell company status with minimal financial activity, including trailing twelve-month earnings of -US$55.61k as of late 2023. These changes reflect ongoing strategic pivots amid limited operational progress in its core DRI processing segment.