5th Dec 2025 14:34
Iofina PLC - iodine producer - Signs a deal with Western Midstream Partners LP for the development of a plant in the Permian Basin between western Texas and southeastern New Mexico. The plant will be funded and operated by Iofina and will be able to process around 50,000 brine barrels per day. "Western Midstream will supply up to 50,000 barrels per day of produced water in exchange for a royalty fee on the plant's production," Iofina adds. Groundwork is anticipated to start by the end of this year, with the plant expected to come online in the second half of 2026.
Iofina Chief Executive Officer Tom Becker says: "We are delighted to be partnering with Western Midstream, given their respected expertise in produced water handling and recycling solutions. They are the ideal partner for our latest plant construction, given the size and scale of their produced-water infrastructure in the Permian Basin, which is a new area for Iofina. This agreement provides the framework for potential further expansion in the Permian."
He adds: "The ability to double the brine water capacity to 50,000 barrels per day will be a step-change for Iofina and will help accelerate our crystalline iodide production growth strategy."
Current stock price: 23.17 pence each, up 6.5% on Friday afternoon in London
12-month change: up 22%
By Tom Budszus, Alliance News slot editor
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