Company: SQM
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000909037-25-000020
Chunk: 108

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-24
Form: 20-F
Item: Item 4A
Chunk 108
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 and overburden thickness ≤ 3.0 m and. The equivalet iodine cut-off grade considers the cost and medium- and long-term price forecasts of generating iodine as discussed in Sections 11, 16 and 19 of the TRS.
(6)Marco Fazzi, Freddy Ildefonso and Gino Slanzi are the QPs responsible for the Mineral Resources.
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Pampa Orcoma—Summary of Mineral Reserves at the End of the Fiscal Year Ended December 31, 20241,2,3,4,5,6,7,8,9

                                 Amount(Mt)                      NitrateGrade(weight %)                Iodine Grade(ppm)   Cut-offgrades                       Metallurgicalrecovery      
Proven mineral reserves          —                                                    —                                —   Nitrates 3.0%, Iodine 300 ppm       50%-70%                    
Probable mineral reserves        309                                                6.9                              413                                                                  
Total mineral reserves           309                                                6.9                              413                                                                  
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(1)Comparisons of values may not add due to rounding of numbers and the differences caused by use of averaging methods.
(2)The units “Mt”, “ppm” and %, refer to million metric tons, parts per million and percent by weight, respectively. The average overall metallurgical recovery of the nitrate and iodine processes contained in the recovered material varies between 50% and 70%. Based on SQM’s operational experience and the laboratory and full-scale tests carried out, a progressive increase, over time, in heap leaching yield is expected, as irrigation application rates increase.
(3)The Mineral Reserve estimate considers a cut-off grade of 300 ppm for iodine and 3.0% for nitrates, based on accumulated cut-off iodine grades and operational average grades, as well as the cost and medium- and long-term prices forecast of generating iodine.
(4)Modifying factors of historical operational use in various of SQM’s mining facilities, are applied to iodine and nitrate grades, the factors applied to iodine and nitrate grades are 0.9 and 0.85, respectively.
(5)Mineral Resources in the area without an environmental permit are estimated at 18 Mt.
(6)Mineral Reserves are reported as in-situ ore.
(7)Marco Fazzi, Freddy Ildefonso and Gino Slanzi are the Q