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.