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IFM extends Eskom buy-back agreement to May

13th March 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Integrated ferrochrome producer International Ferro Metals (IFM) on Wednesday agreed to extend the shutdown of one of its furnaces for another two months.

The company in January agreed to shut down one furnace until March 31, as it entered a new electricity buy-back agreement with State-owned power utility Eskom.

However, a new agreement would see IFM keep the furnace off until May under the same terms as the initial agreement.

The company emphasised that the deal would not impact other mining and ore beneficiation operations or the company’s contractual commitments, as the second furnace would continue operating at full production.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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