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Ironveld submits CIP application for 15MW smelter

By BFN News | 09:39 AM | Wednesday 22 October, 2014


Ironveld has submitted its critical infrastructure programme application for its 15MW smelter to South Africa's Department of Trade and Industry. The CIP is an investment incentive of the South African government to stimulate investment growth in line with the National Industrial Policy Framework (NIPF) and its Industrial Policy Action Plan (IPAP). The incentive programme aims to enhance investment by supporting critical infrastructure, thus lowering the business costs of investment. The CIP is a cost-sharing grant of a maximum of 30% of the total infrastructure development costs capped at R30 million per project based on the achieved score in the economic benefit criteria. If successful, Ironveld could receive a grant of approximately R15m. At 9:39am: (LON:IRON) Ironveld Plc Ord 1p share price was +0.38p at 6.25p Story provided by StockMarketWire.com

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