Wednesday , August 17 2022

MQ earnings were $ 330 million between January and September



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The profit recorded by SQM so far this year is a step back compared to figures for 2017.

This, due to the fact that in the third quarter reported earnings of 83.5 million USD, which means a decrease of 26% compared to the same period last year.

"In 2017, we announced a significant expansion of lithium near Antofagasta, which would allow us to increase our capacity by almost 50%. This project, which involved a complete renovation of the existing plant in a short period of time and investment low, "said SQM Chief Executive Patricio de Solminihac of Pulso.

To this, he added that "as announced earlier, the launch of the fully renovated facility was more difficult than expected, It affected our ability to produce high quality lithium during the third quarter, affecting our sales. "

Non-Metal Mining Company revenue amounted to $ 543.2 million, down 2.8% from $ 558.7 million in the same period last year. Solminihac said that the fourth quarter figures could be very similar to those obtained.

With the result of the third quarter, the profits of the company controlled by Julio Ponce Lerou amounted to $ 331 million between January and September, compared with $ 317 million recorded in that period in 2017.

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