Iofina (AIM:IOF) produced a record 393.3 metric tonnes of crystalline iodine in the first half, up 29% on the 305.5 tonnes produced in the same period last year.
The specialist iodine explorer and producer, which also manufactures speciality chemicals derived from iodine, exceeded its own previously upgraded guidance of 385 tonnes across its eight IOsorb plants in Oklahoma.
"It has been an outstanding first half, with another record crystalline iodine production, up 29% and beating our previously revised production upgrade", said CEO and President Dr Tom Becker.
Construction of IO#12, the company's largest IOsorb plant, is progressing on schedule in the Permian Basin in partnership with Western Midstream Partners.
Commissioning is expected during the third quarter, with production starting towards the end of September and adding 170 to 220 tonnes of annual iodine capacity once operational.
A separate pipeline project delivering additional brine water to the IO#11 plant is also on track for completion within the third quarter, with Iofina's connecting infrastructure already in place.
Spot iodine prices have held in the mid-US$70/kg range through the first half, consistent with 2025 levels, while demand from animal health and animal feed customers at Iofina Chemical has remained strong.
The company is finalising documentation for an additional $10 million project loan facility with its existing lender to support its stated target of reaching 2,000 tonnes of annual iodine production, and is in talks with potential partners for its next IOsorb plant.
Iofina expects second-half production of 460 to 485 tonnes, contingent on the ramp-up timing of both IO#12 and IO#11.
