OM Holdings' profits fall in 2019
PERTH (miningweekly.com) – Weaker manganese ore and ferroalloy prices has seen vertically integrated manganese mining, smelting and trading company OM Holdings report a 32% decrease in revenues for the 2019 financial year.
The ASX-listed company on Friday reported that revenue for the full year reached A$1.03-billion, down from the A$1.51-billion in the 2018 financial year, while earnings before interest, taxes, depreciation and amortization decreased from A$339.7-million to A$154.5-million.
OM Holdings told shareholders that a temporary suspension to the company’s Australian mining activities between August to December of last year also impacted the bottom line.
“2019 proved to be a challenging year. Notwithstanding transient production disruptions and market uncertainties, the group’s entire business operations remain sound and we are looking forward to starting our tailings retreatment plant, sintering plant, as well as regaining full mining production capability in 2020,” said executive chairperson Low Ngee Tong.
“The market fundamentals for the region are strong, and we shall continue to focus on generating a solid cashflow and growing sustainably,” he added.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation