International Ferro Metals rises on reduced losses

published 20 February 2012

International Ferro Metals has managed to stem losses at its operations in the North West Province of South Africa.

The company has reported production of ferrochrome down 15% in the final six months of 2011 compared to the same period of 2010. Sales fell 3% over the prior year.

Revenues came in stable but gross losses were reduced by 86%, from 54,000 South African Rand (ZAR) in the second half of 2010 to 7,400 in the equivalent period of 2011. This loss was also less than the ZAR10,000 loss made in the first half of 2011.