20th Nov 2013 10:41
LONDON (Alliance News) - Iofina PLC Wednesday said its IO#3 iodine production plant in Oklahoma has been approved for brine water delivery by the well operator and is now producing iodine.
The iodine exploration and production company said that following the completion of computerised linking tests, the brine stream was turned on. It said initial production batches meet the company's standards.
Iodine is often extracted from large areas of brine underground and can be linked with gas and oil deposits, particularly in Japan and the US.
The company also said that its October production set a new monthly record on the initial brine stream from its IO#2 site and continual production improvements at IO#1. Iofina didn't provide any actual production figures in its statement Wednesday.
Iofina shares were down 3.1% to 163.75 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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