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OMH (5298) OM HOLDINGS LTD' sarawak plant records higher 3Q production volumes

KUALA LUMPUR (Oct 26): OM Holdings Ltd's ferroalloy smelter complex in Sarawak registered higher production volumes in the third quarter (3Q) ended Sept 30, 2021 compared with in 2Q ended June 30, 2021.

The Australia-listed mining firm said its plant at Samalaju Industrial Park in Bintulu produced 33,453 tonnes of ferrosilicon, 59,307 tonnes of manganese alloys, and 34,542 tonnes of manganese sinter ore for the quarter under review.

"These are respectively 45%, 57%, and 143% higher in production volumes compared with in the prior quarter after the Sarawak plant resumed operations in early July following a temporary suspension.

"The plant has an annual production capacity of approximately 200,000 to 210,000 tonnes for ferrosilicon, 250,000 to 300,000 tonnes for manganese alloys, and 250,000 tonnes for sinter ore," OM said in a statement on Tuesday.

OM said ferrosilicon sales volume decreased 21% and manganese alloys sales volume decreased 14% in 3Q compared with the prior quarter's 23,894 tonnes and 43,856 tonnes, respectively, due to the lower inventory of finished goods available for shipment following the temporary suspension of the Sarawak plant from May to June 2021 due to the Covid-19 pandemic.

Its wholly-owned Bootu Creek manganese mine in Australia processed 230,566 tonnes for 3Q at an average grade of 27.98% manganese, while the Ultra Fines Plant (UFP) produced 4,736 tonnes with an average grade of 27.91% manganese for 3Q.

"For the quarter under review, a total of 143,847 tonnes of manganese product with an average grade of 27.96% manganese was shipped from the Port of Darwin," it said.

Based on current estimates, OM said all mining operations at the Bootu Creek Manganese mine are anticipated to be concluded in 4Q ending Dec 31, 2021.

After the main processing plant ceases operations, the company said it will only enter into the stand-alone UFP operations after a complete commercial reassessment has been undertaken to justify the project's financial sustainability.

"The company continues to see supported prices for ferrosilicon and silicomanganese as the global economy recovers while global supply-and-demand balance remains affected by the ongoing power shortages in China, resulting in cuts in ferroalloy production.

"Power shortages in regions such as Europe and South Asia have had curtailed global ferroalloy production even as prices rise to record levels," it added.

http://www.theedgemarkets.com/article/om-holdings-sarawak-plant-records-higher-3q-production-volumes

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