ABSTRACTThe performance of a multigrid solver for the time‐harmonic electromagnetic problem in geophysical settings is investigated. The frequencies are sufficiently small for waves travelling at the speed of light to be negligible, so that a diffusive problem remains. The discretization of the governing equations is obtained by the finite‐integration technique, which can be viewed as a finite‐volume generalization of Yee's staggered grid scheme. The resulting set of discrete equations is solved by a multigrid method.The convergence rate of the multigrid method decreased when the grid was stretched. The slower convergence rate of the multigrid method can be compensated by using bicgstab2, a conjugate‐gradient‐type method for non‐symmetric problems. In that case, the multigrid solver acts as a preconditioner. However, whereas the multigrid method provides excellent convergence with constant grid spacings, it performs less than satisfactorily when substantial grid stretching is used.