Chile: SQM 2Q 2011 results

Chile’s Santiago-based Soc. Quimica y Minera de Chile SA (SQM), the country’s biggest fertilizer producer and exporter, also known as Soquimich, posted a 26 percent increase in second-quarter profit after higher prices pushed up sales. Net income increased to $132 million from $105 million in the same three months last year. Last year SQM completed a new potassium nitrate facility in Coya Sur, adding 300,000 tpa of production capacity. Their total KNO3 capacity is now of 950, 000 tpa, as compared to 450,000 of Haifa Chemicals or 100,000 tpa of Kemapco.

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