Monday , October 25 2021

The SQM action suffers sharp decline following lower sales of lithium



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F & # 39; this time the role of the B series of related entity & # 39; Julio Ponce Lerou working with a reduction & # 39; $ 28,800, which is a decrease & # 39; 1.14% compared with the close yesterday.

SQM accused the blow of lower sales of lithium. On the Stock Exchange & # 39; Santiago (BCS) the role of non-metallic mines began the day with a sharp decline after the company acknowledged that the delay & # 39; investment will mean that production will be affected by 2019.

F & # 39; this time the role of the B series of related entity & # 39; Julio Ponce Lerou working with a reduction & # 39; $ 28,800, which is a decrease & # 39; 1.14% compared with the close yesterday.

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

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

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