Iofina increases iodine production by over 88%

Iofina has increased its third quarter iodine production by 88.7% compared to last year, but the company said figures were slightly impacted by maintenance work.

The AIM company reported it produced 143.6 metric tonnes of iodine for the quarter, up from 76.1 metric tonnes in Q3 2014.

It also announced it had produced a record of 437.7 metric tonnes for the year so far.

But the company highlighted that production for the quarter could have been higher as it was impacted by maintenance work performed by the company's partners at their brine disposal wells.

However that Iofina took the opportunity to bring forward some maintenance work into the quarter.

The company said it’s on track to hit its second half production target of 260 to 300 metric tons of crystalline iodine.

Iofina chief executive Dr. Tom Becker said the company continues to perform well despite unanticipated necessary upkeep by its partners.