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The OMH business was established in 1994 by the OMH Chief Executive Officer Mr Low Ngee Tong, a Singapore trained engineer with many years of experience in steel, ferro alloy and building material businesses in Asia. Several multinational companies in the steel and minerals industry supported the business and these companies continue to be active trading partners of OMH. OMH was incorporated in Bermuda on 20 November 1997. OMH listed on the ASX on 18 March 1998. The initial objective for growth of OMH was to build upon the expertise and relationships forged by its key management team within the People’s Republic of China, thereby developing its market niche in the specialised metal materials market. In 2001 the OMH Group via its wholly owned subsidiary OM (Manganese) Ltd (formerly Bootu Creek Resources Pty Ltd) expanded its activities to include exploration for manganese. This decision was rewarded almost immediately with the discovery of the Bootu Creek Manganese Project in the Northern Territory of Australia and the entering into a joint venture arrangement with Groote Eylandt Mining Company Pty Ltd (“GEMCO”) whereby GEMCO sole funded A$3 million to earn a 25% interest in the joint venture. OMH’s outstanding track record of exploration success and growth has continued with the project currently being developed and simultaneously in December 2004 the acquisition of its joint venture partners 25% interest in the Bootu Creek Manganese Project. This strategic acquisition controlling 100% of the Project is planned to further accelerate the discovery of new high grade manganese deposits, which will complement the existing mine plan and life. The land position and its prospectivity provides opportunities that are expected to confirm that the mine and surrounding areas are uniquely high grade and suggestive of a significant manganese system. OMH is committing considerable resources towards the Bootu Creek Manganese Project’s regional exploration in an effort to continue to build upon its historic success. In 2005 OMH commissioned its ferro alloy production facility, warehouse and distribution facility in the port city of Qinzhou, south west China. This investment was supported by the outlook for global steel production remaining very robust in the medium term. The market outlook for manganese continues to be buoyant with the key drivers being sustainable high levels of production in China and improving demand from other major steel producing economies. China remains the largest steel producing and consuming economy in the world and is expected for the foreseeable future to remain the major force driving the growth in demand for materials such as manganese. While official estimates put China’s gross domestic product growth at around 7.5% per annum, most applications of steel are expected to grow at greater than this rate until 2008. The benefits of China’s growth is being felt in neighbouring east Asian countries, which are utilising capacity to fulfil that part of China’s demand which cannot be satisfied by domestic production. Additionally, looking to the medium and longer term, OMH is also identifying and assessing other strategic growth opportunities which it will actively pursue. Major Strengths of the OMH Group Key competitive advantages of the OMH Group include:
The Future for the OMH Group The OMH Group’s future plans include:
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