Tuesday , July 27 2021

SQM reports lower sales of lithium



In the first nine & # 39; profits reported year month & # 39; US $ 331 million, which is an increase & # 39; 4.7% compared to & # 39; the same period last year.

It was the best quarter for SQM. And is that the non-metallic mining company linked & # 39; Julio Ponce Lerou reported lower sales of lithium due to the delay of & # 39; One of its investments, which affected the company's results in the period from July to September.

As reported in the company, sales of lithium in the third quarter reached 9,300 tons, which is about 27% lower than that achieved in the same period last year. Does & # 39; this, sales of lithium between July and September reached USD 152.8 million, 9% lower than 2017.

"During 2017, announced expansion of a significant lithium near Antofagasta, which enables niżdiedu our capacity by almost 50%, which involved a complete renovation of our existing plant in & # 39; short term & # 39; time and low investment.
We previously announced, the beginning of a completely renovated plant was more & # 39; challenging than expected, which affected our ability to produce lithium & # 39; quality during the third quarter, affecting our sales ", said general manager Patricio SQM & # 39; Solminijac.

The manager also stated that "we are working diligently to resolve these issues as soon & # 39; as possible," adding that the impact will be relaxed by the first quarter of 2019.

"The sales volumes in 2018 could be & # 39; about 45,000 tons," said De Solminihac.

Anyway by the company are optimistic considering that continue to see market b & # 39; his health for lithium, and projecting that demand will grow by & # 39; 25% this year.

"Because it & # 39; above, prices in the lithium market remain b & # 39; health, our average prices during the third quarter remained relatively stable compared to the second quarter, we believe that our prices for the fourth & # 39; quarter will remain similar to those of the third quarter. "commented the manager.

results

Despite the reported numbers in the lithium business, the company in the first nine & # 39; year profit reported month & # 39; US $ 331 million, which is an increase & # 39; 4.7% over the same period last year. On the other hand, sales in the period reached the sum & # 39; US $ 1,700 million, an increase of & # 39; 7.4%.


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