(NewsDirect)
Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr TomBecker takes Proactive's Stephen Gunnion through the company'sfirst-quarter operating performance, which included a 15.5%year-over-year increase in production to 123.7 metric tonnes ofcrystalline iodine.
This growth isattributed largely to the addition of the IO#9 plant, which commencedoperations in the latter half of the previous year. Iofina operatessix plants that extract iodine from brine water co-produced with oiland gas, with expectations to produce between 275 and 295 metrictonnes of iodine in the first half of the year.
Becker said the company has maintainedstrong demand for its iodine products, holding steady prices inHuntsville through the first and entering the second quarter. He notedthe company is supplying both existing and new customers, includingbreaking into new markets, particularly in Europe. Notably, sales ofbiocide derivatives used in paints and coatings have beensuccessful.
Looking ahead, Beckersaid Iofina is on track with the construction of IO#10, slated for thethird quarter, which will further boost production. The company isalso exploring potential sites for IO#11 and other future iodineextraction plants across the United States.
Moreover, Iofinahas renegotiated a brine supply contract, ensuring stable supply atmarket rates, which is expected to impact profits slightly this yearbut is seen as beneficial for long-term growth.
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