Higher lithium prices fail to lift SQM earnings after iodine and potash slip
Published: Wednesday, 02 March 2016
The Chilean miner said the average price of the lithium it sold last year climbed by 10%, but hinted that although this trend is likely continue in 2016, the arrival of new supply will alleviate some of the market tightness observed in 2015. Prices across its potash and iodine divisions fell, meanwhile, and these markets are expected to remain under pressure this year.
Sociedad Quimica y Minera (SQM) has reported a 28%
drop in earnings for the full year 2015, to $213.2m from
$296.4m earned the year before.
The Chilean lithium, potash and iodine miner said its
results were affected by the write-off of its Pedro de Valdivia
plant in northern Chile in September,...