Profits recorded so far by SQM are a failure compared to data for 2017.
This is due to the fact that in the third quarter it reported revenue of 83.5 million dollars, which is a decrease of 26% compared to what it received in the same period of last year.
"In 2017 we announced a significant lithium expansion near Antofagasta, which will allow us to increase our capacity by almost 50%." This project, which included a complete overhaul of our existing plant for a short period of time and low investment, "said General SQM manager Patricio de Solminhac and Pulso.
To this end, he added that "as already announced, the start-up of the fully renovated plant was more challenging than expected, This has affected our ability to produce high-quality lithium in the third quarter, which affects our sales. "
The non-metal mining company's income amounted to $ 543.2 million, down 2.8% from $ 558.7 million. for the same period of the previous year. De Solminihac said the figures for the fourth quarter could be very similar to those received.
With third-quarter earnings, the profits of the company, which is still controlled by Julio Ponce Leroy, amounted to $ 331 million between January and September, up from $ 317 million in this period since 2017.