FURNACE UPDATE

11 January 2013

International Ferro Metals Limited

("IFL" or the "Company")

FURNACE UPDATE

International Ferro Metals provides the following update with regard to its furnaces following the 30 November 2012 announcement in relation to the furnace electrode breaks. The Company can now confirm that the root cause has been addressed and the electrode paste has been completely replaced and operations at both furnaces have returned to normal.

The replacement of the electrode paste was completed in late December 2012 and since that time the furnaces have been operating at full load. The Company is confident that the electrode issue has been fully resolved and appropriate action has been taken to prevent it from happening again.  

The Company will release its Production Report for the three months to 31 December 2012 on 24 January 2013.

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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.