IFM to fire smelters with Angloplat waste ore

South African ferrochrome producer International Ferro Metals plans to cut its cost base by firing its smelters with waste product from mining peer Anglo Platinum.

“This new source of chromite supply for our two furnaces will reduce our input cost and will enable us to better leverage the improving ferrochrome market conditions,” chief executive David Kovarsky said in a statement on Wednesday.

IFM will get 15 000 tonnes of chromite per month starting next year, covering nearly 30% of the company’s concentrate requirements, he added.

The chromite will come from the tailings, or waste products, from a concentrator 50km away at the Rustenburg division of Angloplat, the world’s largest platinum producer.

Angloplat is majority owned by mining group Anglo American.

IFM will pay R150-million to build a retreatment plant that will process the Angloplat tailings and gain the right for supply of 15 000 tonnes of chromite a month for nine years once the plant is running next year.

Ferrochrome is a key ingredient in stainless steel, giving it anti-corrosive properties. – Reuters

PW Botha wagged his finger and banned us in 1988 but we stood firm. We built a reputation for fearless journalism, then, and now. Through these last 35 years, the Mail & Guardian has always been on the right side of history.

These days, we are on the trail of the merry band of corporates and politicians robbing South Africa of its own potential.

To help us ensure another 35 future years of fiercely independent journalism, please subscribe.

Advertisting

South Africa has been junked

Treasury says the credit ratings downgrade “could not have come at a worse time”, as country enters a 21-day Covid-19 lockdown with little money saved up

Mail & Guardian needs your help

Our job is to help give you the information we all need to participate in building this country, while holding those in power to account. But now the power to help us keep doing that is in your hands

Press Releases

The online value of executive education in a Covid-19 world

Executive education courses further develop the skills of leaders in the workplace

Sisa Ntshona urges everyone to stay home, and consider travelling later

Sisa Ntshona has urged everyone to limit their movements in line with government’s request

SAB Zenzele’s special AGM postponed until further notice

An arrangement has been announced for shareholders and retailers to receive a 77.5% cash payout

20th Edition of the National Teaching Awards

Teachers are seldom recognised but they are indispensable to the country's education system

Awards affirm the vital work that teachers do

Government is committed to empowering South Africa’s teachers with skills, knowledge and techniques for a changing world

SAB Zenzele special AGM rescheduled to March 25 2020

New voting arrangements are being made to safeguard the health of shareholders

Dimension Data launches Saturday School in PE

The Gauteng Saturday School has produced a number of success stories