Company: SQM
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000909037-25-000020
Chunk: 105

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-24
Form: 20-F
Item: Item 4A
Chunk 105
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 it carries out its operations. Such facilities are free of any material liens, pledges or encumbrances, and we believe they are suitable and adequated for the business we conduct in them.
Extraction Yields
The following table shows certain operating data relating to each of our El Norte Grande mines for 2024, 2023 and 2022:

(in thousands, unless otherwise stated)                             2024                    2023                    2022
Coya Sur(1)                                                                                                             
Metric tons of crystallized nitrate produced                         646                     642                     725
Nueva Victoria                                                                                                          
Metric tons of ore mined                                          49,169                  43,450                  44,324
Iodine (ppm)                                                         416                     398                     430
Metric tons of iodine produced(2)                                   13.1                    13.9                    12.4
Pampa Blanca                                                                                                            
Metric tons of ore mined                                           5,789                   5,001                     746
Iodine (ppm)                                                         461                     456                     440
Metric tons of iodine produced(2)                                    1.3                     0.8                     0.0
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(1)Includes production of finished products at Coya Sur from treatment of nitrates solutions from Pedro de Valdivia, nitrate salts from pile treatment at Nueva Victoria, and net production from NPT, or technical grade potassium nitrates.
(2)Includes production of iodine in prill form from our Nueva Victoria and Pedro de Valdivia plants.
Reserves and Resources
According to SQM's experience in caliche ore extraction, the grid pattern drillholes with spacings between 50 and 100 meters produce data on the caliche resources that is sufficiently defined to consider them measured resources and then, adjusting for technical, economic and legal aspects, as proven reserves. These reserves are obtained using the Kriging Method and the application of operating parameters to obtain economically profitable reserves.
Similarly, the information obtained from detailed geologic work and samples taken from grid pattern drillholes with spacings between 100 and 200 meters can be used to determine indicated resources. By adjusting such indicated resources to account for technical, economic and legal factors, it is possible to calculate probable reserves. Probable reserves are calculated by using a Inverse Distance Weighting (IDW), and have an uncertainty or margin of error greater than that of proven