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No. of Pages Lodged: 2 15 December 2015
ASX Market Announcements ASX Limited
4th Floor
20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
OM Holdings Limited (OMH or the Company) advises that, as a direct result of the ongoing and material fall in the manganese price, it has temporarily suspended the mining operations of its Bootu Creek Manganese Project (Project). The suspension of the mining operations will take immediate effect, however, the Company aims to recommence operations as market conditions improve.
The Company is in touch with key stakeholders, including creditors, financiers, contractors and suppliers to keep them informed.
The operations of OMH's
other projects will continue unaffected notwithstanding the
temporary suspension of the Project.
Yours faithfully
OM HOLDINGS LIMITED
Heng Siow Kwee/Julie Wolseley
Company Secretary
#08 - 08, Parkway Parade
80 Marine Parade Road, 449269 Singapore
Tel: 65-6346 5515 Fax: 65-6342 2242
Email address: om@ommaterials.com Website: www.omholdingsltd.com ASX Code: OMH
BACKGROUND PROFILE OF OM HOLDINGS LIMITED
OMH Holdings Limited (OMH) was listed on the ASX in March 1998 and has its foundations in metals trading - incorporating the sourcing and distribution of manganese ore products.
OMH is involved in mining manganese product in Australia and South Africa and smelting in Sarawak.
The smelter in Sarawak, Malaysia is 75% owned by OMH and is nearing construction completion.
The first phase of the Sarawak smelter project commenced production in September 2014 and will ramp up to full production by the end of 2015. When completed the ferrosilicon production facility's capacity of 308,000 tonnes per annum will make it one of the largest ferrosilicon smelters globally.
OMH, through a wholly owned subsidiary, owns the Bootu Creek manganese mine in the Northern Territory. This mine has the capacity to produce up to 1,000,000 tonnes of manganese product per annum.
OMH also owns a 26% investment in Ntsimbintle Mining (Proprietary) Ltd, which, in turn owns 50.1% interest in the world class Tshipi Borwa ("Tshipi") manganese mine in South Africa. This mine has the capacity to produce up to 2,400,000 tonnes of manganese product per annum when the permanent processing plant is completed.
The manganese products of Bootu Creek, and those from Tshipi, are exclusively marketed through the OMH's trading division and OM Tshipi Pte Ltd (33.33% owned) respectively. Through all these activities OMH has established itself as a significant manganese supplier to the global market.
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