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OM Holdings Ltd

OM Holdings forms marketing joint venture for South African manganese ore

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OM Holdings (ASX: OMH) has executed a joint venture with Jupiter Mines (ASX: JMS) for the marketing of manganese ore produced by its associate Tshipi é Ntle Manganese Mining.

OMH holds an effective 13% stake in Tshipi through its 26% strategic investment in Tshipi’s controlling shareholder, Ntsimbintle.

The ore will be marketed through a Singapore-based joint venture company which will trade under the name OM Tshipi which OMH, Jupiter and Tshipi will each hold an equal stake.

The Tshipi Borwa open pit manganese mine is located immediately adjacent to BHP Billiton’s (ASX: BHP) Mamatwan mine in South Africa.

Tshipi has sold in excess of 450,000 metric tonnes of product to date since exports started in December 2012.

Tshipi Borwa is located in the Kalahari Manganese field in the Northern Cape of South Africa, which is home to 80% of the world’ manganese resource.

It is expected to have 2.4 million tonnes per annum at 37% manganese production at full capacity.

Despite manganese's low profile, it is the world’s fourth most traded metal and a crucial component in the manufacture of steel, a variety of alloys and is the major component in the production of lithium ion batteries.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Price: $0.68

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Market Cap: $502.26 m
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