OMH to increase funding in Bryah Basin manganese JV

KUALA LUMPUR: OM Holdings Ltd subsidiary OM (Manganese) Ltd (OMM) is extending a further US$500,000 in funding for exploration in the Bryah Basin manganese joint venture.

OMM, which recently increased its JV interest from 30% to 40% under Tranche 3, has elected to increase its JV interest to 51% under Tranche 4 via additional funding.

"We have been very successful in our exploration efforts to date and believe that there is significant potential to identify sufficient resources to support the commencement of high-grade manganese mining operations in the Bryah Basin in the near future.

“We are very pleased that OM (Manganese) Limited has elected to continue funding exploration on this exciting manganese project. These funds will be applied by Bryah to advance the project towards development in the near term," said Bryah Resources Ltd managing director Neil Marston in a statement.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

SCIB JV accepts RM138.5mil contract for Terengganu roadworks
T7 Global to provide ROV underwater services for 10 platforms
AIA Malaysia taking up minority stake in TNG Digital
FBM KLCI falls on new Covid record
SME Corp, MIDF launch SME revitalisation financing plan
Chinese tutoring firms extend plunge as Beijing cracks down
MyCC monitoring food delivery platform firms
Ringgit opens marginally as Covid cases surge
Foreign funds' net selling slows
Bitcoin surges toward US$40,000 level

Stories You'll Enjoy