Company: SQM
Filing Date: 2025-12-15
Form Type: 6-K
Source: 0000909037-25-000048
Chunk: 46

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-12-15
Form: 6-K
Chunk 46
---
. Costs directly related to the production of unique and identifiable IT programs controlled by the Group, and which will probably generate economic benefits that are higher than its costs during more than a year, are recognized as intangible assets. Direct costs include the expenses of employees who develop information technology software and general expenses in accordance with corporate charges received. The costs of development for IT programs are recognized as assets are amortized over their estimated useful lives. (d) Mining property and concession rights The Company holds mining property and concession rights from the Chilean and Western Australian Governments. Property rights from the State of Chile are usually obtained at no initial cost (other than the payment of mining patents and minor recording expenses) and once the rights on these concessions have been obtained, they are retained by the Company while annual patents are paid. Such patents, which are paid annually, are recorded as prepaid assets and amortized over the following twelve months. Amounts attributable to mining concessions acquired from third parties different from the Chilean Government are recorded at acquisition cost within intangible assets. The finite useful life of mining properties is calculated using the productive unit method, except for the mining properties owned by Corfo, which have been leased to the Company and grant it the right to exclusively exploit them until December 31, 2030. Minimum and maximum amortization lives or rates of intangible assets: Estimated useful life or amortization rate Minimum Life or Rate Maximum Life or Rate Water rights 1 year Indefinite Rights of way Indefinite Indefinite Corfo Mining properties (1) 5 years 5 years Mining rights Unit-production method Intellectual property 9 years 14 years IT programs 1 year 7 years (1) Mining properties owned by CORFO and leased to the Company, which grant it the exclusive right to exploit them until December 31, 2030. 3.22 Research and development expenses Research and development expenses are charged to the statement of income in the period in which the expenditure was incurred. 3.23 Exploration and evaluation expenses The Company holds mining concessions for exploration and exploitation of ore, the Company gives the following treatment to the associated expenses: Once the rights have been obtained, the Company records the disbursements directly associated with the exploration and evaluation of the deposit in execution as property, plant and equipment (construction in

Notes to the Consolidated Interim Financial Statements September 30, 2025 34 progress) at its cost. These disbursements include the following items: geological surveys, drilling, borehole extraction and sampling, activities