SQM to lose $7m from Q1 2015 income following tax probe

By Josie Shillito
Published: Tuesday, 31 March 2015

The result of the investigation into SQM's tax status will hit the company hard, costing it $7m in net income from its first quarter 2015 results. At the end of last year, the group's results were propped up by an extra $13m net income from the sale of mining rights to Antofagasta Minerals, but accusations about payments to politicians have dogged the company in recent months and led to the ousting of its CEO.

Sociedad Quimica y Minera (SQM) will lose approximately $7m from its Q1 2015 results as a consequence of the tax probe conducted into the company by the Chilean authorities. .

Consisting of around $4m in expense-related payments and $3m in interest-related payments, the $7m will be deducted as net income, said...

This is a preview of the full article

Our market news and price data is reserved for registered users only.

Current customer? Login now

All of our industrial minerals price data and news is now available only through our new platform. Learn more about the intelligence we offer by visiting our Fastmarkets flagship website. If you are familiar with our reliable and trusted intelligence, fill out a request a quote form today to hear from our friendly sales staff who will create a custom license for you.


           



Interested in lithium prices? We now offer lithium prices and coverage free for reference. Click here to read all about it.

Interested in the wider electrification market?
Join our growing community of participants who want to learn more about electrification and how this market is developing.