Iofina said it was pressing ahead with expanding its iodine production, though third-quarter output fell short of expectations because of water supply problems at its plants.
The AIM-listed company, which produces iodine from brine in the US, said it made 205.2 tonnes of crystalline iodine in the quarter, down from 215.8 tonnes a year earlier. It blamed lower-than-expected water volumes at its plants, maintenance, and delays in commissioning new facilities, though it said water volumes had since improved. As a result, it now expects to produce 440 to 455 tonnes in the second half.
Iofina reported progress on its growth plans, having completed a new brine pipeline at one plant and handed another, IO#12, to its operations team, with construction of two further plants, IO#13 and IO#14, due to begin shortly.
The firm said the iodine market remained strong, with prices in the mid-$70s per kilogram and above, and that its expanding capacity should drive further growth, building on a record first half.
“In the Period, Iofina has made substantial progress in executing its growth strategy. With the additional pipeline at IO#11 completed, IO#12 commissioned, and agreements secured for IO#13 and IO#14, we are executing on the expansion of our production capacity needed to expedite our growth,” said President and CEO, Dr Tom Becker.
“Whilst production in the Period was lower than anticipated, we are encouraged by the positive adjustments made by our water supply partners and continue to work to restore volumes to previous levels.
“The strong profitability achieved in H1 2026 demonstrates the earnings potential of our business. With iodine prices remaining firm and demand robust, we are expanding production capacity at an opportune time. As these additional plants come online, we expect to accelerate production growth towards 2000MT, strengthen profitability and deliver increasing value for shareholders.”