I would look at Manganese ore producers who have low C1 costs. E25 has the highest production cost on the ASX for Mn miners.
E25 can only breakeven when the Mn ore price is at US$8.0 /dmtu. Currently E25 is losing around US$4 - 4.5/dmtu.
This is possibly why E25 hasn't shipped any Mn ore to OMH as it would lock in the loss. E25 management may be hoping for a higher price.
A 50,000 tonne shipload at US$4.50/dmtu would mean a loss of A$7.5 million.
99.95% High Purity Manganese, page-778
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