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Oman Chromite Company (OCC) was established in 1993. It produces high, medium and low-quality chrome, which it mixes into an alloy for sale on international markets where it enjoys a good reputation. Sales and profits grew rapidly between 1995-97. In 1998, however, net profits fell by 83 per cent to RO 42,269 ($109,978) from RO 246,467 ($640,174) in 1997. Sales fell by 70 per cent to RO 208,302 ($541,044) from RO 717,548 ($1.8 million). OCC attributed the decline in sales to the unpredictable nature of the market and the Asian economic crisis which had forced down the price of chromite. The company said it followed an established policy and managed for the first time to achieve production of approximately 30,000 tonnes, simultaneously managing to reduce production costs by 27…