Is TMI looking to buy OMH?

There was an immediate reaction to the news of OMH’s share price hike, with one reader commenting it was because TMI is expected to make a takeover bid. Interesting idea. TMI recently bought ConsMin and revitalized the company’s Australian manganese mine, Woodie Woodie. And just yesterday, TMI’s owner disclosed it was going to the bulk shipping industry, so OMH does prose an attractive target with its own large Malaysian smelter. The smelter has low power costs and would enhance TMI’s reach in manganese.

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Yes, TMI could be interested in OMH as a takeover proposition especially now that the OM Sarawak smelters are producing record volumes of FeSi, FeMn and SiMn. The OM Sarawak electricity prices are said to be the cheapest in Asia and the since the power cost is up to a 50% cost for producing FeSi then it would be one of the most profitable smelters in the world. TMI already holds 58 million shares ie. 8.01% of OMH. OMH has a 26% stake in Ntsimbintle Mining which owns a 50.1% Tshipi . Jupiter holds the remaining 49.9% For a takeover… Read more »