Iofina plc has released a In Q4 2024 update with 194.1 metric tonnes (MT) of crystalline iodine produced from its seven IOsorb® plants in western Oklahoma. In total, H2 2024 production of 358MT was within our forecast range. Total production for the year was a record for the Company, up 13.4% to 634.1MT compared to 2023 production of 559.3MT.

The Company has benefitted from a strong spot raw iodine price in excess of H1 2024 levels and is currently above $70/kg. Prices are anticipated to remain at these higher levels throughout H1 2025 due to the continued robust global demand for iodine. IPBC product sales have performed particularly well for Iofina Chemical in 2024, significantly surpassing 2023 levels, driven by strong interest from customers.

The Company’s growth strategy remains firmly on track. Construction has begun for IO#11 in Iofina’s newest core area, with the initial land work underway and major components in the process of being supplied. The plant is expected to be completed and operational in Q3 2025. Preliminary discussions regarding IO#12 are progressing positively, further demonstrating the Company’s commitment to expanding and accelerating its production capabilities.

President and CEO, Dr. Tom Becker, commented:

“The Company, as expected, achieved record iodine production in 2024. Our business operations have gone from strength to strength throughout 2024 with the successful completion of our new plant IO#10, which is operating as expected, as well as strategic investment at Iofina Chemical. With the foundations for IO#11 currently being laid, we are on track to complete construction in Q3 2025. At the same time, we are making good progress in finalising plans for IO#12. These developments highlight our ongoing focus on rapidly executing our growth strategy in a prudent fashion.

“Whilst the December shipping delays to customers were certainly frustrating in terms of hitting our year-end earnings target, we are pleased with the Group’s overall performance in FY24. These delayed sales have been recognised in January 2025, which underpins our forecast for 2025. With iodine prices currently above $70/kg, and expected higher iodine production compared to 2024, the current outlook for the year is very promising.”

In the video below, President & CEO Tom Becker outlines iofina’s business including the increasing global demand for iodine