Santiago-Sociedad Química y Minera de Chile S.A. (SQM) on Sept. 30 reiterated earlier statements that it expects a record third quarter. It made the announcement in light of the high volatility experienced by world stock markets and in SQM share price. “Based on the sales we have accomplished so far, our current projections indicate that we will achieve record results in the third quarter,” said Patricio Contesse, SQM CEO. “Furthermore, we believe this trend will continue into the fourth quarter and next year, considering that market fundamentals are expected to be strong in the medium and long terms. Our expectations for the specialty plant nutrition, iodine and lithium markets have improved in the past 30 days, and in particular, sales volumes of iodine and lithium have exceeded our initial projections.” Back in July, SQM unveiled capital expenditure plans for 2008-2010 totaling US$1 billion. “SQM is in a unique position today, with excellent growth prospects observed across all of its main markets. SQM’s solid financial position will enable the company to face the growth it expects to see during the coming years.”
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