Approval of Amended Business Rescue Plan

24 Mar 2016

Further to the announcement released by the Company on 18 March 2016, IFL announces that the Amended Business Rescue Plan (“Plan”) in respect of its South African subsidiary, International Ferro Metals (SA) (Pty) Limited (“IFMSA”) proposed by the Business Rescue Practitioner (“BRP”) and available on the Company’s website, has been unanimously approved by creditors. The BRP will now seek to execute the relevant sale agreements with Samancor Chrome Limited (“Samancor”) as quickly as possible.

The amended Plan provides an illustration and estimate of the potential distribution to creditors of IFMSA, and based on the Plan’s distribution schedule, it is not likely that IFL shareholders would receive any distribution from the conclusion of the business rescue process.

Further announcements in relation to the Business Rescue process will be released in due course.

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

International Ferro Metals Limited
Chris Jordaan, Chief Executive Officer
Tel: +27 14 574 6302
Numis Securities Limited
James Black / John Prior / Paul Gillam
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 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.