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International Ferro loses less
South Africa’s International Ferro Metals yesterday said it had narrowed its losses in the final six months of 2011. The net loss after taxation dropped from Zar107,000 (£8,700) in 2010 to Zar92,000. But the Aim-listed company reported production of ferrochrome down 15 per cent over the period. Chief executive Chris Jordaan said: “The combination of solid operations, active marketing to a broader range of customers and cost savings should place IFL in a healthy position to take full advantage of the robust long-term outlook for stainless steel.”