OM Holdings Limited Reports Production Results for the Quarter Ended March 31, 2017
April 28, 2017 at 03:48 am IST
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OM Holdings Limited reported production results for the quarter ended March 31, 2017. Production output for the March 2017 quarter was 38,272 tonnes of ferrosilicon ("FeSi") and 19,435 tonnes of manganese alloy comprising silicomanganese ("SiMn") and high carbon ferromanganese ("HCFeMn"). Average daily production output of approximately 58 tonnes, 102 tonnes and 129 tonnes of FeSi, SiMn and HCFeMn respectively per furnace for the March 2017 quarter. A total of 41,319 tonnes of FeSi and 13,974 tonnes of manganese alloy were sold during the March 2017 quarter. For the period ended 31 March 2017, a total of 10 furnaces were in operation with 8 furnaces
producing FeSi and 2 furnaces producing manganese alloy. The plant produced a total of 38,272 tonnes of Fesi and 19,435 tonnes of manganese alloy in the current quarter. As previously announced, OM Sarawak had successfully achieved hot commissioning and tapping of the second modified furnace on 14 January 2017, and a total of 11,985 tonnes of high carbon ferromanganese ("HCFeMn") was also produced in the March 2017 quarter. The 38,272 tonnes of Fesi produced represented an increase of approximately 18% over the December 2016 quarter as a result of an additional FeSi furnace in operation during the current quarter, and a substantial increase of approximately 25% over the March 2016 quarter.
OM Holdings Limited is a Singapore-based vertically integrated manganese ore and ferroalloy company. The Company supplies manganese ores and ferroalloys. Through its global trading network, the Company distributes products from its Asia-Pacific base to customers across the world. The Company is engaged in the business of trading raw ores, smelting and marketing processed ferroalloys. Its businesses include Bootu Creek Mine, Samalaju Smelting Complex, Qinzhou Smelter, Marketing & Trading, and Tshipi Borwa. The Company operates through three segments: Mining, Smelting, and Marketing and trading. The Mining segment is engaged in the exploration and mining of manganese ore. The Smelting segment is engaged in the production of manganese ferroalloys, ferrosilicon and manganese sinter ore. The Marketing and trading segment is engaged in the trading of manganese ore, manganese ferroalloys, ferrosilicon, sinter ore, chrome ore and iron ore.