Proactive Investors - Run By Investors For Investors

OM Holdings sells 5% stake in smelter project for US$18.45 million

OM Holdings sells 5% stake in smelter project for US$18.45 million

OM Holdings (ASX:OMH) has sold a 5% interest in Sarawak smelter project in Malaysia to joint venture partner Samalaju Industries Sdn Bhd for US$18.45 million.

Proceeds from the sale will be used for development of Phase II of the smelter project.

Following transfer of the interest, OM will retain a 75% stake in the project while Samalaju will hold 25%.

Phase one of the smelter project to produce ferrosilicon and ferro-manganese intermediate products commenced production in September 2014.

This 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.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full OMH profile View Profile

OM Holdings Ltd Timeline

Related Articles

Drilling at Gabanintha project
February 05 2019
The company expects a ‘material’ increase in vanadium resources and will also publish a base metals resource.
wedding rings
February 05 2019
Alba holds 11.765% of the Horse Hill project near Gatwick Airport in the UK’s Weald basin
electric car charging
April 09 2019
The Vancouver-based junior company has a unique business model that has the potential to disrupt a $6 billion market dominated by Chinese production

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use