13 September 2016

    International Ferro Metals Limited

                               ("IFL" or the "Company")                            

                                Resignation of director                            

    IFL announces that Chris Jordaan, Non-Executive Director of the Company, has
    resigned from the board on 12 September 2016. Mr Jordaan served as Chief
    Executive Officer from 1 August 2011 to 31 May 2016, when he stepped down to
    become a Non-Executive Director. From 1 June 2016 he was employed solely by the
    Company's South African subsidiary, International Ferro Metals (SA) (Pty)
    Limited ("IFMSA") on a limited duration contract, to oversee the operations of
    IFMSA and to assist with the implementation of the business rescue plan.

    On 23 August 2016 IFL announced that all the conditions to the sale of the
    business and assets of IFMSA had been fulfilled, and therefore, the services of
    Mr Jordaan are no longer required.

    The remaining transactions, for which conditions are in the process of being
    fulfilled, are:

      * the sale of IFMSA's mining right and beneficiation plant; and
      * the sale of IFMSA's claims against Sky Chrome and IFL's sale of Sky
        Chrome's equity.

    The outstanding conditions include obtaining regulatory approvals, specifically
    ministerial approval for the transfer of mining rights, and consents of other
    parties to certain material contracts.

    Tony Grey, Chairman, said: "the Board would like to thank Chris Jordaan for his
    contribution as CEO for the past five years, during which time the Company
    experienced exceptionally difficult market conditions, and to wish him well for
    the future."

    Further announcements in relation to the Business Rescue process will be
    released in due course.

                                        - ENDS-                                    

    For further information please visit www.ifml.com or contact:

    International Ferro Metals Limited

    Jannie Muller, Finance Director                     +27 82 785 1364

    Wayne Kernaghan, Company Secretary       +61 407 233 153

    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.