Iofina to open new iodine plant next week

9th Oct 2013 10:58

Iodine explorer and producer Iofina is to commission a new production plant next week with full scale production starting shortly after.The US group, which has iodine production operations in Texas, California, Montana, Oklahoma and Wyoming, said its IO#3 plant was nearing completion and would add to the production of existing sites.It also said its application to Montana authorities for a permit for beneficial water usage linked to its Water Depot project had moved to the final determination phase, which can take up to 120 days. Upon final determination, the project enters a thirty day public notification phase.Chief Executive George Lantz said: "Progress on our Water Depot project is encouraging. Although this is a long-term non-core project, the news that we have progressed to the next step is positive." Shares in Iofina rose 6.25p to 174p at 11.05am in London.PW