International Ferro IFL Update in relation to Anglo Platinum UG2 supply

  International Ferro (IFL) - Update in relation to Anglo Platinum UG2 supply

RNS Number : 6515O
International Ferro Metals Limited
15 October 2012




15 October 2012







                      International Ferro Metals Limited

                           ("IFL" or the "Company")



               Update in relation to Anglo Platinum UG2 supply



IFL provides the following update in regards to the supply of UG2 it receives
from Anglo Platinum following the unprotected strike action at Anglo Platinum.



The UG2 Chrome Recovery Plant(CRP) at Anglo Platinum's Waterval operations in
Rustenburg was shut down on 12 September 2012, following the shutdown of the
Waterval Concentrator, due to the ongoing strike action. This reflects the
fact that the CRP is directly reliant on feed from the Waterval Concentrator.



Under the current supply agreement, IFL has the right to receive the first
15,000 tonnes of metallurgical concentrate production per month from the UG2
CRP plant and received 13,400 tonnes in September 2012. As the Waterval
Concentrator has now been shut for a month, the CRP is still not in operation
and as a result, IFL has not received any UG2 in October as of yet.



IFL's ferrochrome production has not been affected by this and is not
expected to be. The UG2 supplied by Anglo Platinum constitutes 30% of the
Company's ore demand. The Company has sufficient supplies of ore from its own
operations and other sources and is therefore not reliant on UG2 as supply to
its own operations. However, there is likely to be an added cost as a result
of not receiving 15,000 tonnes per month of UG2 concentrate but the management
believes this additional cost to input will not be significant to overall
production costs.





IFL can further confirm that recently reported strike action in the transport
sector has had no impact on supply commitments to any of its customers.



For further information please visit www.ifml.com or contact:



International Ferro Metals Limited

Chris Jordaan, Chief Executive Officer

Mob: +27 (0) 82653 1463



Brunswick Group

Carole Cable / Clemmie Raynsford

Tel: +44 (0) 20 7404 5959



Numis Securities Limited

James Black / Stuart Skinner

Tel: +44 (0) 20 7260 1000





About International Ferro Metals:

International Ferro Metals produces ferrochrome, the essential ingredient in
stainless steel, from its integrated chromite mine and ferrochrome processing
operations in South Africa. International Ferro Metals is listed on the
London Stock Exchange under the symbol IFL.



Forward Looking Statements

This announcement contains certain forward looking statements which by their
nature contain risk and uncertainty because they relate to future events and
depend on circumstances that occur in the future. There are a number of
factors that could cause actual results or developments to differ materially
from those expressed or implied by these forward looking statements.



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


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