OM Holdings Limited (ASX:OMH) has formed a joint venture with a Malaysian company named Menteri Besar Incorporated (MBI).
Menteri Besar is an arm of the state government of Perak in Malaysia whose main objective is to hold strategic interests for the state government.
OM Holdings will control 60 per cent of the joint venture with the remainer held by Menteri Besar.
The joint venture will focus on the exploration, mining and processing of high grade quartzite deposits in the stake of Perak in Malaysia.
OM Holdings reported a net loss of $49 million in the full 2013 calendar year.