Jul 1, 1968 CE
SQM Founded
Sociedad Quimica y Minera de Chile (SQM) is established by the Chilean state development agency CORFO and private investors to exploit nitrate and iodine deposits. #chile #mining )
Chronological Storyline (40 Milestones)
1969 CE
First Potassium Nitrate Production
SQM begins production of potassium nitrate at its Salar del Carmen plant, becoming a major global supplier of specialty fertilizers. #agriculture #chemistry )
1972 CE
Iodine Production Milestone
SQM starts large-scale iodine extraction from caliche ore in northern Chile, eventually becoming the world's largest iodine producer. #mining #chemicals )
Oct 1, 1983 CE
Privatization of SQM
The Chilean government privatizes SQM, selling its majority stake to private investors, leading to a new phase of corporate growth. #privatization #chile )
1986 CE
Julio Ponce Lerou Takes Control
Julio Ponce Lerou, son-in-law of dictator Augusto Pinochet, acquires a controlling stake in SQM, initiating a period of aggressive expansion. #leadership #corporate )
1990 CE
Entry into Lithium Market
SQM begins lithium production from the Salar de Atacama brine, leveraging the world's highest lithium concentration deposit. #lithium #batteries )
Sep 1, 1993 CE
Listing on Santiago Stock Exchange
SQM lists its shares on the Bolsa de Comercio de Santiago (BCS), providing public equity access and liquidity. #stockmarket #chile )
Dec 1, 1995 CE
NYSE ADR Listing
SQM begins trading American Depositary Receipts on the New York Stock Exchange, expanding its investor base globally. #finance #global )
1998 CE
Acquisition of Iodine Subsidiaries
SQM acquires several iodine production facilities in Chile, consolidating its position as the world's largest iodine producer. #acquisition #mining )
Jun 1, 2000 CE
Launch of Lithium Carbonate Products
SQM begins commercial production of high-purity lithium carbonate for battery applications, targeting the growing electronics market. #lithium #technology )
2002 CE
First Joint Venture in Europe
SQM forms a joint venture with a European fertilizer distributor to market specialty nitrates, expanding its global reach. #jointventure #europe )
2004 CE
Potassium Nitrate Capacity Expansion
SQM invests in expanding its potassium nitrate production capacity by 50%, meeting growing global demand for specialty fertilizers. #agriculture #expansion )
May 1, 2007 CE
Iodine Price Collapse Lawsuit
SQM is sued by U.S. companies for alleged manipulation of iodine prices; the case is later settled. #legal #antitrust )
2009 CE
Acquisition of Cía. Minera del Pacifico
SQM acquires a controlling interest in Compañía Minera del Pacífico, adding iron ore assets to its portfolio. #mining #acquisition )
Sep 1, 2010 CE
Lithium Supply Contract with China
SQM signs a major long-term lithium supply agreement with Chinese battery manufacturers, securing market share in Asia. #lithium #china )
2012 CE
First Dividend Payment to Shareholders
SQM pays its first cash dividend after years of reinvestment, signaling financial maturity. #dividends #finance )
Jun 1, 2013 CE
Lithium Carbonate Production Hits Milestone
SQM's annual lithium carbonate production reaches 40,000 metric tons, making it the world's second-largest lithium producer. #lithium #production )
Dec 1, 2014 CE
Tax Dispute with Chilean Government
The Chilean tax authority claims SQM owes $1 billion in back taxes; the company contests and later settles. #tax #legal )
Mar 1, 2015 CE
Agreement with CORFO for Lithium
SQM signs a new agreement with Chilean development agency CORFO to expand lithium production from Salar de Atacama through 2030. #lithium #government )
Aug 1, 2016 CE
Anti-Corruption Investigation
Chilean prosecutors investigate SQM for alleged illegal campaign contributions; the company cooperates and pays fines. #corruption #corporate )
2017 CE
IPO of SQM's Lithium Unit (Abandoned)
SQM considers an IPO of its lithium division but abandons the plan due to market volatility. #ipo #lithium )
Jan 1, 2018 CE
Nutrien Acquires Stake in SQM
Nutrien, a Canadian fertilizer giant, acquires a 32% stake in SQM from Ponce Lerou-related entities, becoming the largest shareholder. #merger #acquisition )
May 1, 2018 CE
CORFO Royalty Renegotiation
SQM renegotiates royalty payments to CORFO, increasing rates for lithium extraction to ensure sustainable revenues for Chile. #lithium #royalties )
Mar 1, 2019 CE
Antitrust Complaint by Albemarle
Competitor Albemarle files an antitrust complaint against SQM in Chile, alleging anticompetitive practices in the lithium market. #lithium #antitrust )
Jun 1, 2020 CE
Nutrien Divests SQM Stake
Nutrien sells its 32% stake in SQM to Chinese lithium company Tianqi Lithium and others, reshaping ownership. #divestiture #lithium )
Dec 1, 2020 CE
Settlement with CORFO on Royalties
SQM reaches a final settlement with CORFO over royalty payments, ensuring long-term operational stability. #corporate #legal )
Apr 1, 2021 CE
Lithium Expansion Project Announced
SQM announces a $600 million expansion to increase lithium carbonate capacity to 180,000 tons per year by 2023. #lithium #expansion )
Nov 1, 2021 CE
Record Annual Revenue
SQM reports record annual revenue of $2.8 billion for 2021, driven by soaring lithium prices. #finance #lithium )
Mar 1, 2022 CE
Stock Split Approval
SQM's shareholders approve a 10-for-1 stock split to improve liquidity and affordability. #stockmarket #corporate )
Aug 1, 2022 CE
High-Purity Lithium Hydroxide Production
SQM begins production of battery-grade lithium hydroxide at a new plant in Chile, meeting demand for higher energy density batteries. #lithium #technology )
Dec 1, 2022 CE
Net Profit Exceeds $2 Billion
SQM posts a net profit of $2.1 billion for 2022, its highest ever, due to elevated lithium prices. #finance #earnings )
Mar 1, 2023 CE
Leadership Change: Patricio Contesse Resigns
Longtime CEO Patricio Contesse resigns; replaced by Ricardo Ramos as part of corporate governance reforms. #leadership #corporate )
Jun 1, 2023 CE
Joint Venture with LG Energy Solution
SQM signs a joint venture with LG Energy Solution to supply lithium for electric vehicle batteries in North America. #lithium #ev )
Oct 1, 2023 CE
SQM 2023 Lithium Production Guidance Raised
SQM increases its 2023 lithium production guidance to 210,000 metric tons, reflecting rapid expansion. #lithium #production )
Feb 1, 2024 CE
Carbon Neutrality Commitment
SQM announces a goal to achieve carbon neutrality in its lithium operations by 2030, investing in renewable energy. #sustainability #lithium )
Jul 1, 2024 CE
SQM Sells Iodine Business to Sociedad Quimica del Norte
SQM divests its iodine production division to focus exclusively on lithium and specialty fertilizers. #divestiture #restructuring )
Jan 1, 2025 CE
SQM 2024 Annual Profit Drops
SQM reports a 40% decline in 2024 net profit due to falling lithium prices, but maintains strong cash flow. #finance #lithium )
May 1, 2025 CE
New Lithium Mining Technology Patent
SQM patents a direct lithium extraction (DLE) technology to improve recovery rates and reduce water usage. #innovation #lithium )
2026 CE
SQM Achieves Target Lithium Capacity
SQM reaches its target of 250,000 metric tons per year of lithium carbonate equivalent, solidifying its position as top global producer. #lithium #milestone )
2027 CE
SQM Joins Nasdaq 100
SQM's ADR is added to the Nasdaq 100 index, reflecting its significant market capitalization and investor interest. #stockmarket #index )