6 May 2010 08:18
06 May 2010
International Ferro Metals Limited
("IFL" or the "Company")
Statement regarding proposed changes to Australian tax regime
International Ferro Metals notes the Australian government's proposal to introduce a uniform resource rent tax to those mining companies with operations in Australia.
As all of IFL's operations and resources are located in South Africa with no mining activities undertaken in Australia, IFL believes, having consulted with its advisors, that it will not be liable for the newly proposed resource rent tax.
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For further information please visit www.ifml.com or contact:
| International Ferro Metals Limited David Kovarsky, Chief Executive Officer | +27 (0) 82 650 1192 |
| Brunswick Group Carole Cable / Fiona Mulcahy | +44 (0) 20 7404 5959 |
| Numis Securities Limited John Harrison / Stuart Skinner | +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.
IFL.L (IFL)