International Ferro Metals (IFM) aims to be one of the world’s low cost ferrochrome producers through the use of latest mining technology and integrated mine and processing plants.

Highlights:

• Record total ferrochrome production up 16% on the March 2008 quarter to 60,698 tonnes.
• The total production includes 56,608 tonnes charge chrome (up 8% on the March 2008 quarter) and a further 4,090 tonnes of recoverable chrome from the slag stockpile.
• Ferrochrome sales up 57% to 89,091 tonnes from 56,905 tonnes in the previous quarter.
• Management remains in dialogue with Eskom on electricity supply for the short, medium and long term requirements for the Company.
• Market ferrochrome prices increased from US$1.92 per pound to US$2.05 per pound from 1 July 2008.

Commenting on the June quarter production results, Chief Executive Stephen Turner said:

"We are pleased with the 16 percent improvement in ferrochrome production over the fourth quarter despite continuing electricity constraints imposed by Eskom. Production was enhanced by recovering chrome from the slag stockpile which illustrates the management's commitment to extracting as much value from the operations as possible. We remain focussed on improving operational performance and together with tight cost controls, and a strong ferrochrome price, the management is positive on the outlook for the future."

Ferrochrome Production

* June 2008 is the first period in which contained chrome in stockpiled slag has been recorded

Ferrochrome production for the three months ended June 2008 was up almost 16% to 60,698 tonnes, which includes 4,090 tonnes recoverable chrome contained in stockpiled slag. Sales volumes for the period were 89,091 tonnes up 57% on the March 2008 quarter (56,905 tonnes) which was due to a 19,207 tonnes drawdown on the stockpile to its current size of 1,934 tonnes.

Full year production and sales amounted to 205,607 tonnes including estimated recoverable ferrochrome contained in slag and 207,862 tonnes respectively, against a design capacity of 267,000 tonnes. Production for the full year was impacted by the ramp up of the facility to full production, and electricity constraints imposed by Eskom, both of which have been well documented over the year.

Demand for ferrochrome remains strong which is reflected in the 6.8% increase of the September quarter ferrochrome prices announced on 1 July 2008 from US$1.92 per pound to US$2.05 per pound. The ferrochrome price is now at a record high with industry commentators anticipating further increases throughout the year.

There will be a conference call for analysts and investors today, Thursday 10 July, at 9.00 am (London time). Dial in details are as follows:

A replay facility of the conference call will be available on the following numbers:

The Company's preliminary annual financial statements to the year ended 30 June 2008 will be announced on 22 September 2008.

For further information please contact:

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.

For further information please visit www.ifml.com

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.

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