International Ferro Metals () is a leading

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

n-based

ferrochrome Ferrochrome, or ferrochromium (FeCr) is a type of ferroalloy, that is, an alloy of chromium and iron, generally containing 50 to 70% chromium by weight. Ferrochrome is produced by electric arc carbothermic reduction of chromite. Most of the ...

producer operating in South Africa. Its product is used in

stainless steel Stainless steel is an alloy of iron that is resistant to rusting and corrosion. It contains at least 11% chromium and may contain elements such as carbon, other nonmetals and metals to obtain other desired properties. Stainless steel's corros ...

manufacturing. Listed on the London Stock Exchange, it is a former constituent of the

FTSE 250 Index The FTSE 250 Index ( "Footsie") is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange. Promotions and demotions to and from the index occur quarterly in March, June, Septemb ...

History

The business was founded in 2002. It was first listed on the Alternative Investment Market in 2005. The listing process was initiated after the company gained investment from its strategic investor, also its single largest shareholder, Jiuquan Iron and steel (Group) Company (JISCO), who now takes an equity interests of approximately 26.1% of the enlarged share capital of the company. Construction on the production facility at Buffelsfontein in South Africa started in 2005 and it went into full production in 2007.Mineweb
/ref> It transferred to the full list of the London Stock Exchange in 2007. During the year of 2008 as a result of booming commodity market and appetite for ferrochromes worldwide especially in China IFL recognized a net profit after tax of

ZAR Zar may refer to: Places * Zar, Armenia * Zar, Azerbaijan * Žár, Czech Republic * Zar, Iran, in Markazi Province * Zeraq, or Zar, Hamadan Province, Iran * Żar, Łódź Voivodeship, Poland * Żar (mountain), in Poland * Žar Mountain, a m ...

578.2 million and the company declared its maiden dividend of 1 pence per share.

Operations

The company was two facilities: * Buffelsfontein - in production * Lesedi - under construction

References

External links

Official site
{{Mining companies of Australia Australian companies established in 2002 Mining companies of Australia Energy companies established in 2002 Companies based in Sydney