XML 57 R41.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure of joint ventures [abstract]  
Schedule of investment in joint ventures accounted for under the equity method of accounting
Equity-accounted investeesShare in income (loss) of joint ventures
accounted for using the equity method
Joint VentureAs of
December 31,
2023		As of
December 31,
2022		For the year ended
December 31,
2023		For the year ended
December 31,
2022		For the year ended
December 31,
2021
ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Fzco.19,490 20,793 (6,564)8,208 6,304 
Pavoni & C. Spa7,870 7,315 396 470 174 
Covalent Lithium Pty Ltd.— — 107 — — 
Pirra Lithium Pty Ltd.3,544 — — — — 
Total30,904 28,108 (6,061)8,678 6,478 
Share on other comprehensive income joint ventures
accounted for using the equity method		Share on total comprehensive income of joint ventures
accounted for using the equity method
Joint VentureFor the year ended
December 31,
2023		For the year ended
December 31,
2022		For the year ended
December 31,
2021		For the year ended
December 31,
2023		For the year ended
December 31,
2022		For the year ended
December 31,
2021
ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Fzco.2,450 674 429 (4,114)8,882 6,733 
Pavoni & C. Spa139 (210)(317)535 260 (143)
Covalent Lithium Pty Ltd. (*)1,583 90 37 1,690 90 37 
Pirra Lithium Pty Ltd.— — — — — — 
Total4,172 554 149 (1,889)9,232 6,627 
________________________________________________
(*)Equity method investments with a negative value are presented under "Other non-current provisions" and total ThUS$ 766.
The following companies were included in the consolidation:
Equity-accounted investeesShare in income (loss) of joint ventures
accounted for using the equity method
Joint VentureAs of
December 31,
2023		As of
December 31,
2022		For the year ended
December 31,
2023		For the year ended
December 31,
2022		For the year ended
December 31,
2021
ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Brasil Agroindustria (**)— 14,667 — 5,834 4,582 
SQM Vitas Perú S.A.C. (1)2,488 1,340 (2,302)2,293 1,645 
Total2,488 16,007 (2,302)8,127 6,227 

Share on other comprehensive income of
joint ventures accounted for using
the equity method		Share on total comprehensive income of
joint ventures accounted for using
the equity method
Joint VentureFor the year ended
December 31,
2023		For the year ended
December 31,
2022		For the year ended
December 31,
2021		For the year ended
December 31,
2023		For the year ended
December 31,
2022		For the year ended
December 31,
2021
ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Brasil Agroindustria (**)— 551 (429)— 6,385 4,153 
SQM Vitas Perú S.A.C. (1)— — — (2,302)2,293 1,645 
Total— 551 (429)(2,302)8,678 5,798 
(**) As of December 31, 2023, the investment in SQM Vitas Brasil Agroindustria was sold.
1.These companies are subsidiaries of:
SQM Vitas Fzco
Schedule of dividends received from joint ventures
Dividends received for the year ending
Joint ventureDescription of the nature
of the relationship		DomicileCountry of
incorporation		Share of
ownership in
associates		As of
December 31,
2023		As of
December 31,
2022		As of
December 31,
2021
ThUS$ThUS$ThUS$
SQM Vitas Fzco.Production and commercialization of specialty plant, animal nutrition and industrial hygiene.Jebel ALI Free Zone P.O. Box 18222, DubaiUnited Arab Emirates50 %— — — 
Pavoni & C. SpaProduction of specialty fertilizers and others for distribution in Italy and other countries.Corso Italia 172, 95129 Catania -CT, SiciliaItaly50 %— — — 
Covalent Lithium Pty Ltd.Development and operation of the Mt. Holland Lithium project, which will include the construction of a lithium extraction and refining mine.L18, 109 St Georges Tce Perth WA 6000 |PO Box Z5200 St Georges Tce Perth WA 6831Australia50 %— — — 
SQM Vitas Brasil Agroindustria (1)Production and trading of specialty vegetable and animal nutrition and industrial hygiene.Via Cndeias, Km. 01 Sem Numero, Lote 4, Bairro Cia Norte, Candeias, Bahia.Brazil49.99 %— — — 
SQM Vitas Perú S.A.C. (1)Production and trading of specialty vegetable and animal nutrition and industrial hygieneAv. Juan de Arona 187, Torre B, Oficina 301-II, San Isidro, LimaPeru50 %— — — 
Pirra Lithium Pty Ltd.Exploration and development of lithium assets..Suite 12, 11 Ventnor Avenue, West Perth, WA 6605.Australia37.5 %— — — 
Total— — — 
Schedule of assets, liabilities, revenue and expenses from joint ventures
The information disclosed reflects the amounts presented in the financial statements of the relevant joint ventures and not the Company's share of those amounts.
As of December 31, 2023For the year ended December 31, 2023
AssetsLiabilitiesRevenueNet income (loss)Other
comprehensive
income		Comprehensive
income
Joint VentureCurrentNon-currentCurrentNon-current
ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Fzco. (*)34,056 — 52 — — 359 — 359 
SQM Vitas Brasil Agroindustria (*)— — — — — — — — 
SQM Vitas Perú S.A.C. (*)40,327 8,954 36,898 220 53,477 (4,603)— (4,603)
Pavoni & C. Spa (*)11,879 6,407 8,146 814 21,439 792 115 907 
Covalent Lithium Pty Ltd.6,980 2,602 7,106 4,009 — 215 — 215 
Pirra Lithium Pty Ltd.— — — — — — — — 
Total93,242 17,963 52,202 5,043 74,916 (3,237)115 (3,122)
As of December 31, 2022For the year ended December 31, 2022
AssetsLiabilitiesNet income (loss)Other
comprehensive
income		Comprehensive
income
Joint VentureCurrentNon-currentCurrentNon-currentRevenue
ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Fzco. (*)9,618 — 49 — — 165 — 165 
SQM Vitas Brasil Agroindustria (*)73,045 6,111 45,894 — 162,026 11,670 602 12,272 
SQM Vitas Perú S.A.C. (*)59,196 7,285 49,596 117 61,387 4,586 — 4,586 
Pavoni & C. Spa (*)11,516 6,358 8,853 802 18,066 939 (344)595 
Covalent Lithium Pty Ltd.2,077 3,088 7,062 3,017 — (2,648)— (2,648)
Total155,452 22,842 111,454 3,936 241,479 14,712 258 14,970 
For the year ended December 31, 2021
RevenueNet income (loss)Other
comprehensive
income		Comprehensive
income
Joint Venture
ThUS$ThUS$ThUS$ThUS$
SQM Vitas Fzco. (*)— 159 — 159 
SQM Vitas Brasil Agroindustria (*)103,335 9,165 (858)8,307 
SQM Vitas Perú S.A.C. (*)48,128 3,289 — 3,289 
Pavoni & C. Spa (*)19,599 347 (634)(287)
Covalent Lithium Pty Ltd.— (864)74 (790)
Total171,062 12,096 (1,418)10,678 

(*) The financial figures figures exclude consolidation adjustments (unrealized gains and losses)
Schedule of other joint venture information
Cash and cash equivalentsOther current financial liabilitiesOther non-current financial liabilities
Joint VentureAs of
December 31,
2023		As of
December 31,
2022		As of
December 31,
2023		As of
December 31,
2022		As of
December 31,
2023		As of
December 31,
2022
ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Fzco.28,012 3,866 — — — — 
SQM Vitas Brasil Agroindustria— 3,820 — 9,753 — — 
SQM Vitas Perú S.A.C.2,318 2,208 — 82 — 117 
Pavoni & C. Spa838 1,088 2,043 4,951 — — 
Covalent Lithium Pty Ltd.1,865 1,931 — 494 — — 
Total33,033 12,913 2,043 15,280 — 117 
Depreciation and amortization expense
for the year ending		Interest expense
for the year ending		Income tax benefit (expense)
for the year ending
Joint VentureAs of
December 31,
2023		As of
December 31,
2022		As of
December 31,
2023		As of
December 31,
2022		As of
December 31,
2023		As of
December 31,
2022
ThUS$ThUS$ThUS$ThUS$ThUS$ThUS$
SQM Vitas Fzco.— — (1)(1)— — 
SQM Vitas Brasil Agroindustria— (331)— (333)— (3,164)
SQM Vitas Perú S.A.C.(513)(360)(220)(298)2,013 (2,370)
Pavoni & C. Spa(213)(183)(418)(347)(392)(459)
Covalent Lithium Pty Ltd.(691)(176)(16)(40)(107)1,094 
Total(1,417)(1,050)(655)(1,019)1,514 (4,899)