Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – Ferrochrome producer International Ferro Metals (IFM) on Wednesday announced that a R500-million loan facility with the Bank of China had been extended by a year.
The facility would have expired on September 25, but was extended to September 16, 2015, on the same terms.
“We are very pleased to have extended our facility with the Bank of China for another year. This support has been tremendous and with the resumption of the upper group two ore supply from Anglo American Platinum, we enter a new financial year in a position of relative strength,” IFM CEO Chris Jordaan said in a statement.
The ferrochrome producer’s results for the 2014 financial year would be released on September 29.