Resumen de IM 2012 Round-ups: Iodine
While 57% of the world's iodine is produced in Chile, Japan is the next largest producer at 20%. Most of Japan's iodine production is centred in the region devastated by March 2011's earthquake and ensuing tsunami.
As a result, the price of iodine shot up from around $25/kg in 2010 to more than $60/kg in March 2011, creating a huge tailwind for established producers such as Chile's Sociedad Qumica y Minera (SQM), accounting for more than 20% of the company's revenues in 2012, and for new entrants to the market such as US-based Iofina Plc and Canada's Sirocco Mining Inc.
"Looking forward, a lot of what happens in terms of supply and pricing will depend what happens with ACF Minera's Algorta Norte iodine project in Chile," Lance Baller, Iofina CEO, said.
