Business
Q3 2021 Update
Q3 2021 Update.
About this update from Iofina Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1559P\n Iofina PLC\n 15 October 2021\n \n \n \n This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \n \n \n 15 October 2021\n \n \n Iofina Plc\n \n \n (\"Iofina\" or the \"Company\")\n \n \n (LSE AIM: IOF)\n \n \n \n \n \n Q3 2021 Update\n \n \n \n \n \n Production on Track and Iodine Demand Strong\n \n \n \n \n Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, today provides a brief update to the market regarding its activities during the third quarter of 2021 (\"Q3\" or the \"Period\").\n \n During the Period, the Company produced 142.7 metric tonnes (\"MT\") of crystalline iodine from its five operating IOsorb® plants in Oklahoma. The Company remains on track to meet its H2 2021 production target of 260-275MT. \n \n Demand for iodine and iodine complexes remains robust. Recently Iofina indicated that iodine spot prices were increasing and late Q3 spot market prices were between $37-39/kg. The strong demand and tight supply of iodine have continued into October, with spot prices now touching $40/kg in some instances. \n \n The Company believes the outlook for demand of iodine will remain strong into 2022. As recently reported, Iofina is in negotiations with brine partners to create a new iodine plant, IO#9. These negotiations are progressing, with the expectation to commence construction before year end.\n \n \n \n Commenting, President and CEO of Iofina Dr. Tom Becker, stated\n \n \n : \n \n \n \"We are heading for another strong year. The Company is on track to meet its H2 crystalline iodine production target and demand for our products continues to be robust. With the iodine spot price also climbing higher, the outlook is certainly encouraging. \n \n \n \n \n \n \n \"Importantly, we remain focused on increasing our production capacity and continue to negotiate terms for our latest plant, IO#9, with construction expected to start before the year end. We look forward to providing further updates in due course.\"\n \n \n \n \n \n Enquiries:\n \n Dr. Tom Becker\n CEO & President\n Iofina plc\n Tel: +44 (0)20 3006 3135\n \n \n Christopher Raggett/Tim Harper (corpor...