Iofina PLC (AIM:IOF, OTC:IOFNF) told investors it produced 124.1 tonnes of crystalline iodine in the first quarter of 2025, in line with 123.7 tonnes in the same period last year.
Output was impacted by extreme winter conditions in Oklahoma, it noted, with the cold weather disrupting the hydrocarbon operations that feed brine water availability to the plants.
Iofina said it now expects to produce about 300 metric tonnes of iodine in the first half of 2025, which is lower than its previous guidance of 320 to 355 tonnes.
Meanwhile, the firm added that iodine prices remained firm (consistently above $70 per kilogram in the quarter), and it remain above the average seen in the second half of 2024.
The company also noted that there have been no material effects from recent US tariff changes.
“As a leading North American iodine producer, we were encouraged by the strength of both the iodine market and prices achieved in Q1 2025,” chief executive Tom Becker said in a statement.
“Whilst the impact of the extreme winter weather has been frustrating, we continue to work closely with all our partners to adjust their water gathering systems to maximise brine water flow to our plants.
“All our plants are in good working order, and we remain optimistic for the rest of 2025 in terms of production, capitalising on the strong iodine market and switching on IO#11 as planned in Q3 2025."
Operationally, Iofina continues work on its next plant in the roll-out – with Plant IO#11 on track to come online in the third quarter.
Planning for Plant IO#12 is, meanwhile, progressing with construction potentially starting by the end of the year.