MIDAS SHARE TIPS UPDATE: Iofina extracts iodine from oilfield brine
Oklahoma is one of the leading oil and gas states in America, producing almost 500,000 barrels of crude oil per day and substantial amounts of natural gas.
Employing 15% of Oklahoma’s workforce, the sector contributes $60 billion (£48 billion) annually to economic growth.
Along with fossil fuels, the production also results in significant amounts of oilfield brine.
Progressive: Iofina has pioneered a way to extract iodine from the brine, turning dirty water into a valuable resource
Traditionally considered waste water, AIM-listed Iofina recognizes oilfield brine as an asset.
The company has developed a method to extract iodine from the brine, transforming dirty water into a valuable resource. Iodine is a crucial mineral used in various applications.
It promotes growth and brain health, and is added to salt and other food products worldwide. Iodine is also essential in producing clear images in magnetic resonance imaging (MRI) scans and is an important component in a range of products from pesticides to preservatives.
Iofina sells pure iodine and related compounds to manufacturers and industrial firms in the US and internationally.
Midas recommended Iofina’s shares in September last year when they were 23.5p, just as CEO Tom Becker was preparing to start work on the company’s sixth iodine plant in Oklahoma.
The sixth plant is now operational, and a seventh is expected to be operational next year.
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
