Sociedad Quimica Y Minera SA (SQM) has released an update.
Sociedad Química y Minera de Chile S.A. (SQM) reports a net loss of US$869.5 million for Q1 2024, attributed to a one-time tax payment on lithium mining, contrasting with the prior year’s net income of US$749.9 million. Despite the loss, SQM experienced over 30% growth in lithium sales and record-high iodine sales, and remains optimistic with projections to double lithium hydroxide production in the coming years. The company also completed strategic expansions in Chile and acquisitions in Australia, reinforcing its global lithium market presence.
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