International Ferro signs agreement with Chrometco

28th May 2014 13:45

Mining group International Ferro has signed an agreement with Johannesburg listed mining company Chrometco to conduct exploration drilling at Rooderand Mine.The mine produces chrome ore and is expected upon completion to supply the group 0.2m tonnes of chrome ore over a 12-month period. The group said the agreement is in line with its strategy to "obtain higher-grade feed stock for our furnaces and allow for more flexibility and cost effectiveness in our operations".As of 14:06 the share price had risen 1.35% to 9.31p.WS