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Business Description: OM Holdings Limited (OMH) is a diversified minerals group with the primary focus on expanding its fully integrated manganese business. Its international operations currently comprise three core operating businesses are the exploration and mining of manganese ore, the production of manganese ferroalloys and sinter ore and the marketing and trading of manganese, iron and chrome ores and ferroalloys.
Strategy Analysis: OMH is currently leveraging off the strong cash generation of its manganese businesses to invest aggressively in its future growth and continued development as a world class resources group specialising in the carbon steel materials sector. Commercial mining operations in China continue to grow through trading operations, a strong Chinese market and an international customer base. A new manganese production strategy has identified new market opportunities in China for high value-in-use products, coupled with creating greater operational flexibility and lower operating costs. The Bootu Creek Manganese Mine is hoped to grow organically where existing infrastructure has the capacity to deliver over 700,000 tonnes of saleable manganese product per annum. Other strategic focuses will be on the development and standalone production opportunities around the highly prospective Renner Springs tenements and a feasibility study which may establish a sinter ore plant at the company's existing Qinzhou smelter facility in China.
OM Holdings reported a net loss of $61.1m for the year ended 31 December 2012. Revenues from ordinary activities were $408.23m, up 5% from last year. Diluted EPS was (10.09) cents compared to (2.29) cents last year. Net operating cash flow was $60.86m compared to $19.04m last year. No dividend was declared.
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