  We present an efficient preconditioner for the orbital minimization method
when the Hamiltonian is discretized using planewaves (i.e., pseudospectral
method). This novel preconditioner is based on an approximate Fermi operator
projection by pole expansion, combined with the sparsifying preconditioner to
efficiently evaluate the pole expansion for a wide range of Hamiltonian
operators. Numerical results validate the performance of the new preconditioner
for the orbital minimization method, in particular, the iteration number is
reduced to $O(1)$ and often only a few iterations are enough for convergence.
