Proximar forced into module switch after biofilter problems

It said there was a breach in the support for the bio media filter of the C module.

The breach has not resulted in any mortality, the company said, but measures have been taken to maintain adequate water quality, and biological levels have been stable since the incident.

It was only two weeks ago that Proximar announced it had sold its first Mount Fuji salmon at well above the market price.

The standing biomass in the C module is approximately 300 tonnes, and the company is starting to move the fish to another operative module, expected to be completed within the next week.

The startup of a new module, the D module, is being moved forward to compensate. Module C will not be operational until repairs are completed.

Selected batches of fish will be harvested somewhat earlier than planned to free up capacity in the operative modules and secure adequate fish health until module C has been repaired.

The harvesting plan for 2024 and 2025 is expected to be reduced by around 5%, compared to the previously communicated 4,700 tonnes HOG (head on, gutted).

Proximar will also upgrade the other operative modules to avoid similar incidents in the other three modules, however this is not expected to impact production. Proximar has contacted the relevant insurance companies regarding coverage for damages, repairs and relevant losses.

Proximar said it will publish updated information in its next trading update in early January.