- Business
- Sociedad Química y Minera de Chile S.A. (SQM) produces and distributes specialty plant nutrients, lithium compounds, iodine and its derivatives, potassium-based fertilizers, and industrial chemicals from its operations primarily in Chile's Atacama Desert. Founded in 1968 and headquartered in Santiago, Chile, the company extracts resources from the Salar de Atacama and caliche deposits in the Tarapacá and Antofagasta regions, serving global markets in agriculture, energy storage, pharmaceuticals, and industrial applications with brands including Ultrasol, Qrop, Speedfol, and Allganic for specialty plant nutrition; lithium carbonate and hydroxide for battery manufacturers; natural potassium nitrate, potassium chloride, and potassium sulfate; and iodine derivatives produced via joint ventures such as with Ajay Chemicals. SQM maintains a vertically integrated model encompassing brine extraction, chemical processing at facilities like Salar del Carmen and Coya Sur, and worldwide distribution, positioning it as the largest global producer of iodine and a leading lithium supplier. In recent developments, SQM advances a strategic partnership with state-owned Codelco for lithium operations in the Salar de Atacama starting in 2025 through 2030, securing regulatory approvals including conditional clearance from China in November 2025; allocates a $750 million capital expenditure budget in 2025 to expand lithium carbonate capacity to 240,000 tons annually by 2026 and lithium hydroxide to 100,000 tons by end-2025; achieves first commercial production at its Kwinana refinery joint venture in Australia for 50,000 tons of lithium hydroxide by 2026; and invests $2.7 billion overall in production expansions amid rebounding lithium prices and demand growth.