BHP in Front Line as Marines take Darwin

Asia Times Online reported that a military pact between Australia and the United States caused shares of OM Holdings (ASX:OMH) to fall.

As quoted in the market news:

OMH’s manganese is mined in Australia, and that’s where its share is listed also. But its control shareholders are Chinese, who have employed Singapore-based nominees to run the Australian source of manganese – an alloy to strengthen steel – and protect Chinese steelmills from having the manganese price dictated by the real government in Australia, BHP Billiton, one of the world’s largest manganese producers.

Click here to read the full Asia Times Online report.