SQM Q3 earnings fall $56m following facility wind down

By Myles McCormick
Published: Wednesday, 18 November 2015

Write-offs stemming from the cessation of mining operations at the Pedro de Valdivia mine hit the third quarter results of the Chilean lithium, potash and iodine producer. Segmental revenues for lithium were up as demand continued to rise, but sales income for both potash and iodine was down on the back of price decreases.

Sociedad Quimica y Minera’s (SQM) net income for the third quarter of 2015 was down 79% year-on-year (y-o-y) due to write-offs of $56.3m at its Pedro de Valdivia facility in Chile’s Antofagasta region.

The company posted net income of $13.7m, down from $66.3m for the same period last...

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