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International Ferro to mine under licence at Rooderand

Published: 03:08 13 Oct 2014 EDT

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International Ferro Metals (LON:IFL) is to start mining at Chrometco’s Rooderand LG6 open pit in South Africa after agreeing an access and offtake deal.

Initial exploration drilling had finished, it said, with a Phase 2 exploration programme now underway. The ferrochrome specialist added Rooderand’s ore will give it higher grade feedstock for its furnaces.

IFL aims to mine up to 200,000 tonnes of ore from LG6. Any extension would be dependent on the success of the Phase 2 drilling.

LG6 gives more flexibility over cost, said IFL, which will beneficiate the mined ore.  IFL will pay Chrometco a portion of the net profits per tonne of ore mined, after deducting all costs associated with the mining.

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