Company: SQM
Filing Date: 2025-03-05
Form Type: 6-K
Source: 0000909037-25-000007
Chunk: 2

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-03-05
Form: 6-K
Chunk 2
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.” Mr. Ramos added, “On the lithium side, we are quite optimistic as we estimate that the market demand grew 25% in 2024 and we anticipate that global demand could grow around 17% this year, supported by electric car sales growth as well as battery energy storage systems in different markets around the globe. However, we believe that prices will remain relatively stable throughout this year, and remain optimistic about a positive trend starting in 2026. ” Mr. Ramos closed by saying, “We are well-positioned to navigate the challenges ahead. In iodine production, our Nueva Victoria and Pampa Blanca facilities are operating at full capacity to meet customer demand, with additional production 1 Includes the net effect of accounting adjustments for the payments of the specific tax on mining activities for the exploitation of lithium for the twelve months ended December 31, 2024, in a total amount of US$1,106.2 million. For more detail, please refer to Note (1) to this Earnings release.

| SQM S.A. 4Q2024 Earnings release |     | 1 |

expected from our reserves in María Elena. In Australia, the commissioning of the Mt. Holland mine and concentrator plant has been a success, and we are steadily ramping up production to reach nameplate capacity by year-end. Our Kwinana refinery is on track to begin operations, with the first product scheduled for mid-year as anticipated. Meanwhile, in Chile, we are progressing with our expansion projects to increase production capacity while reducing our operational footprint. All of this is made possible by our strong financial position.”. Capex Total capital expenditure in 2024 was approximately US$1.6 billion, which includes the announced US$1.3 billion allocated for expansion across divisions, as well as the acquisition of the remaining portion of Azure Minerals, bringing the company's ownership to 50%. Capital expenditure for 2025 is expected to be approximately US$1.1 billion, including maintenance. This amount is allocated as follows: US$550 million for the Lithium division in Chile, US$350 million for the Iodine-Plant Nutrition division, and approximately US$200 million for the International Lithium division. These expenditures are primarily directed toward ongoing capacity expansions across all divisions, as well as exploration-related investments, and maintenance capex. Segment Analysis Lithium and Derivatives Revenues for lithium and derivatives totaled US$2,241.3 million during the twelve months ended December 31