Company: SQM
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000909037-25-000020
Chunk: 112

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-24
Form: 20-F
Item: Item 4A
Chunk 112
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osa Oeste and Franja Oeste, with a corresponding reduction in probable reserves. In 2023, no measured resources excluding reserves were reported, while in 2024 there are 223 million metric tons of measured resources. The indicated mineral resources of 41 million metric tons as of December 31, 2024, increased by 48% fron 20 million metric tons as of December 31, 2023. The Nueva Victoria inferred mineral resources of 49 million metric tons as of December 31, 2024, had no changes from the amounts as of December 31, 2023.
The Pampa Orcoma probable mineral reserves and indicated mineral resources of 309 million metric tons and 18 million metric tons as of December 31, 2024, respectively, remained unchanged from the amounts as of December 31, 2023, because there were no material changes that would modify the estimated mineral reserves.
The Pampa Blanca proven mineral reserves of 85.3 million metric tons as of December 31, 2024 increased by 282% from 30.2 million metric tons as of December 31, 2023. There were no Pampa Blanca probable mineral reserves reported as of December 31, 2024 compared to Pampa Blanca probable mineral reserves of 12.1 million metric tons as of December 31, 2023.
The proven and probable reserves shown above are the result of the evaluation of approximately 23.2% of the total caliche-related mining property of our Company. However, we have explored more intensely the areas in which we believe there is a higher potential of finding high-grade caliche ore minerals. The remaining 76.8% of this area has not been explored or has had limited reconnaissance, which is not sufficient to determine the potential and hypothetical resources. In 2024, basic recognition of new mining properties in the Pampa Fortuna sector equivalent to 3,500 hectares was carried out. With respect to detailed explorations, in 2024, campaigns were carried out to recategorize indicated resources equivalent to 5,325 hectares in the Hermosa Oeste, Pampa Engañadora, Franja Oeste, Tea Oeste, Iris Vigia, Mina Sur and Mina Oeste sectors. An advanced exploration program is already designed for 2025, intended to cover an area of 34,350 hectares in the Toco Norte, Pampa Fortuna; Salinas; Hermosa Oeste