Company: SQM
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000909037-25-000020
Chunk: 95

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-24
Form: 20-F
Item: Item 4A
Chunk 95
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 managed by Covalent, an entity equally owned (50/50) by SQM and Wesfarmers. 
Covalent is neither the registered holder nor the applicant of the project properties under the Mining Act of 1978 of WA (Mining Law). 
The Kwinana refinery development is located on a long-term lease covering 40.5 hectares at Lot 15, Mason Road in Kwinana. The lease was registered by Covalent with Development WA in September 2021.
Costs
Caliche ore is the key raw material used in the production of iodine, specialty plant nutrients and industrial chemicals. The following gross margins for the specified business lines were calculated on the same basis as cut-off grades used to estimate our reserves. We expect costs to remain relatively stable in the near future.

                                                                                2024                                                  2023                                                  2022
                                                 Gross            Price                                Gross            Price                                Gross            Price             
                                                Margin                                                Margin                                                Margin                              
Iodine and Derivatives                         54    %            US$67/kg                           60    %            US$68/kg                           63    %            US$59/kg          
Specialty Plant Nutrition                      18    %            US$958/ton                         43    %            US$1,088/ton                       38    %            US$1,383/ton      
Industrial Chemicals                           39    %            US$1,487/ton                       19    %            US$971/ton                         32    %            US$1,124/ton      
Brines from the Salar de Atacama are the key raw material used in the production of potassium chloride and potassium sulfate, and lithium and its derivatives. The following gross margins for the specified business lines were calculated on the same basis as cut-off grades used to estimate our reserves. We expect costs to remain relatively stable in the near future.

                                                                                               2024                                                  2023                                                  2022
                                                                Gross            Price                                Gross            Price                                Gross            Price             
                                                               Margin                                                Margin                                                Margin                              
Potassium Chloride and Potassium Sulfate                      13    %            US$390/ton                         21    %            US$514/ton                         56    %            US$910/ton        
Lithium and Derivatives                                       26    %            US$10,936/ton                      43    %            US$30,520/ton                      55    %            US$52,000/ton