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SEPTEMBER 2015 QUARTERLY PRODUCTION AND MARKET UPDATE
The Board of OM Holdings Limited ('OMH' or 'the Company') is pleased to provide the following update.
HIGHLIGHTS
OPERATING PERFORMANCE
OM SARAWAK (75%, Samalaju, Malaysia)
Ferrosilicon produced during the September 2015 quarter of 29,179 tonnes
Overall construction progress of Phase 1 of the OM Sarawak ferrosilicon production facility (expressed in terms of cumulated earned value) stands at approximately 97.0% at the end of September 2015
Completed testing and commissioning of Workshops B01 to B03 which have achieved commercial production during the quarter
Workshop B04 has started testing and commissioning in September 2015
Workshop B05 is near completion of equipment installation
EXPLORATION AND MINING (OMM, 100% owned Bootu Creek Manganese Mine)
September 2015 quarterly manganese ore production of 223,551 tonnes grading 35.79%
September 2015 quarterly manganese ore shipments of 229,427 dry tonnes (240,332 wet tonnes) grading 35.40%
PROCESSING (OMQ, 100% owned Smelter and Sinter Plant in Qinzhou)
OMQ resumed production with one furnace on 28 April 2015 with total production of 11,422 tonnes of High Carbon Ferro Manganese ('HCFeMn') during the September 2015 Quarter
HCFeMn sold during the quarter of 7,473 tonnes
MARKETING AND TRADING, AND MARKET UPDATE
616,790 tonnes of equity and third party ores and alloys were transacted during the quarter. These included approximately 16,497 tonnes of ferrosilicon from our smelter in Sarawak
China's crude steel production between July to September 2015 amounted to 198.9 million tonnes, representing a 4.28% quarter-on-quarter decrease
World crude steel production for the September 2015 Quarter was 396.1 million tonnes, representing a 3.36% quarter-on-quarter decrease
OM MATERIALS (SARAWAK) SDN BHD ('OM Sarawak') (75%, Samalaju, East Malaysia)
OM Sarawak owns a Ferro Alloy Smelting Project in the Samalaju Industrial Park in Sarawak, Malaysia (the 'Project'). The Project consists of 8 Main Workshops and a total of 16 units of
25.5 MVA furnaces with a design capacity to produce 308,000 tonnes of ferrosilicon alloys per annum.
As at the end of September 2015, Plant A (consisting of A01, A02 and A03 Workshops) and three workshops of Plant B (consisting of the B01, B02 and B03 Workshops) have achieved
commercial production. With the additional production capacity of the three workshops of Plant B, a total of 29,179 tonnes of ferrosilicon was produced in the 3rd quarter of 2015.
Main Workshop B04 has commenced testing and commissioning in September 2015. Main Workshop B05, the last workshop for Plant B, is nearing completion of installation works.
Commercial operation
OM Sarawak continues to improve the operating efficiency of each furnace currently in production. With the addition and successful tapping from furnaces 7 to 12 of the B01 to B03 Workshops during the current quarter, the production output of ferrosilicon continues to move towards meeting the nameplate production capacity of 308,000 tonnes of ferrosilicon alloy per annum.
During the September 2015 Quarter, a total of 29,179 tonnes of ferrosilicon was produced, representing an increase of 12,885 tonnes compared to the June 2015 Quarter.
Construction
The overall construction progress expressed as the cumulated earned project value was approximately 97.0% at the end of September 2015.
EPC's delivery and performance
The EPC contract works for civil, structural, equipment fabrication and installation work's cumulated earned value was approximately 97.0% complete at the end of the September 2015 Quarter.
The major milestones achieved during the current quarter were the successful commencement of commercial production of Workshops B01 to B03 and the initiation of testing and commissioning for the B04 Workshop.
The majority of the civil and structural works in Plant B has been completed, with only minor fine-tuning work left to be done. Equipment installation work for the final remaining B05 Main Workshop is currently progressing well and also near completion.
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- [Editor:Sophie]
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