Iodine producer Iofina plc (LON:IOF) is on track to meet production targets in the second half of 2016.
The company revealed it produced 125.1 tonnes of crystalline iodine in the third quarter, taking output for the first nine months of the year from its five IOsorb plants in Oklahoma up to 380.7 tonnes. For the second half of 2016, the group is targeting production of between 250 and 270 tonnes.
As previously communicated, the company made some tweaks recently at three plants to improve consistency of brine input to its IOsorb plants, which is necessary under a changing regulatory environment, and Iofina continues to work closely with its partners on a variety of strategies to maximise productive throughput at all of its IOsorb plants.
Meanwhile, Iofina Chemical has performed well, the company revealed, in a competitive market, selling the company’s IOflo iodine along with Iofina’s portfolio of iodine and speciality halogen derivatives.
"Our five IOsorb plants continue to produce on a reliable basis in line with company forecasts. Improvements to brine tie-ins and other measures will help ensure consistency of raw brine for the future," said Dr Tom Becker, president and chief executive officer of Iofina.