Santiago-Sociedad Quimica y Mineral de Chile S.A. (SQM) reported a 25 percent increase in net income for the first quarter ending March 31, 2007, to US$43.0 million (ADR $1.63) on sales of $237.2 million, compared to the year-ago $34.3 million (ADR $1.30) and $219.1 million. Specialty plant nutrient sales were off slightly during the quarter, to $102.1 million from the year-ago $107.0 million. SQM attributed the lower number to a delay in sales of sodium potassium nitrate to Brazil. SQM said it expects total sales volumes to Brazil to be higher in 2007 than in 2006. In other news, SQM said it has budgeted $230 million for capital expenditures in 2007, with money going to the completion of the Maria Elena project; investment in a new potassium nitrate production facility at Coya Sur; completion of the granulation and prilling facility at Coya Sur; the renewal of railroad and rolling stock; expansion of lithium carbonate production and the Salar de Atacama operation; and development of new mining areas at Pedro de Valdivia.
Transparency Across the Fertilizer Value-Chain