UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of July, 2017.
Commission File Number 33-65728
CHEMICAL AND MINING COMPANY
OF CHILE INC.
(Translation of registrant’s
name into English)
El Trovador 4285, Santiago,
Chile (562) 2425-2000
(Address of principal executive
office)
Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F: ☒ Form 40-F: ☐
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits
the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s
securities are traded, as long as the report or other document is not a press release, is not required to be and has not been
distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a
Form 6-K submission or other Commission filing on EDGAR.
SQM
Los Militares
4290 Piso 6,
Las Condes, Santiago,
Chile
Tel: (56 2) 2425
2485
Fax: (56 2) 2425
2493
www.sqm.com
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Santiago, Chile, July 12, 2017
–
Sociedad Química y Minera de Chile S.A. (“SQM” or the “Company”) (NYSE: SQM; Santiago Stock Exchange:
SQM-A, SQM-B) is pleased to announce that following the recent announcement of the formation of a Joint Venture between SQM and
Kidman Resources, SQM will consolidate three complementary lithium production plants worldwide: the Salar de Atacama in Chile,
the Salar de Caucharí in Argentina, and the Mount Holland Spodumene deposit in Australia.
Patricio de Solminihac, SQM’s CEO
commented on the industry's perspectives: "At present, global demand is about 200,000 tons of Lithium Carbonate Equivalent
(LCE) per year and growing at rates of nearly 14% per year. We believe it is highly probable that worldwide demand will exceed
500,000 tons by 2025. The use of lithium batteries in the automotive industry marks a trend that will revolutionize global demand
in the coming years."
"Our experience as a leader in the
industry for more than 20 years puts us in a privileged position to capture the opportunities that arise in the lithium market,"
added SQM’s CEO. SQM's entry into the ownership of Caucharí and Mount Holland is the result of work done by a SQM
multidisciplinary team that has been studying various lithium projects around the world for many years.”
Patricio de Solminihac commented: "In
lithium production, as in other industrial chemicals, leadership is achieved through the effective execution of projects with high
growth potential and low total production costs. The Salar de Atacama, Caucharí, and Mount Holland far exceed our objectives:
they are high quality deposits with great potential for future growth, which will allow us to continue being operators with low
total production costs in all of our plants.” He added, "At SQM we have a professional team with the knowledge and experience
that let us be successful in the development of our Lithium projects over the past 20 years and has led us to identify the most
profitable projects worldwide."
Finally, de Solminihac closed by saying:
"We want to progress as fast as possible in the execution of our new projects. With respect to Caucharí, we will begin
construction this year and expect to be producing lithium carbonate by 2019. Regarding Mount Holland, we expect to accelerate the
significant exploration and technical studies already undertaken by Kidman to move into production of spodumene concentrate within
the next 24 months. With regard to the refining plant, we will advance that in parallel, with the objective to start the production
of lithium hydroxide and lithium carbonate on as short a timetable as possible after the concentrate operation is commissioned."
About SQM
SQM is an integrated producer and distributor
of lithium, iodine, specialty plant nutrients, potassium-related fertilizers and industrial chemicals. Its products are based on
the development of high quality natural resources that allow the Company to be a leader in costs, supported by a specialized international
network with sales in over 110 countries.
SQM´s business strategy is to be
a mining operator that selectively integrates the production and sales of products to industries essential for human development,
such as food, health and technology. The strategy is built on the following six principles:
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strengthen internal processes to ensure access to key resources required for the sustainability
of the business;
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extend lean operations (M1) to the entire organization to strengthen our cost position, increase
quality and ensure safety;
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invest in the development of a specialty fertilizer market, including product differentiation,
sales channel management and price optimization;
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recover the iodine market share, seek consolidation and vertical integration opportunities; invest
in the development of industrial nitrate applications;
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search and invest in lithium and potassium assets outside of Chile to leverage our operational
capabilities, take advantage of the current lithium market appeal and ensure access to raw materials for our potassium nitrate
production; and
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seek diversification opportunities in gold, copper and zinc projects in the region to leverage
our mining operating capabilities and provide business continuity to our exploration program.
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The business strategy´s principles
are based on the following four concepts:
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build an organization with strategic clarity, inspirational leaders, responsible personnel and
strong values;
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develop a strategic planning process that responds to the needs of our customers and market trends,
while ensuring coordination between all segments of the business, including sales and operations;
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develop a robust risk control and mitigation process to actively manage business risk; and
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improve our stakeholder management to establish links with the community and communicate to Chile
and worldwide our contribution to industries essential for human development.
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For
further information, contact:
Gerardo
Illanes 56-2-24252022 /
gerardo.illanes@sqm.com
Kelly
O’Brien 56-2-24252074 /
kelly.obrien@sqm.com
Irina
Axenova 56-2-24252280 /
irina.axenova@sqm.com
For
media inquiries, contact:
Carolina
García Huidobro /
carolina.g.huidobro@sqm.com
Alvaro
Cifuentes /
alvaro.cifuentes@sqm.com
Tamara
Rebolledo /
tamara.rebolledo@sqm.com
(Northern Region)
Cautionary Note Regarding Forward-Looking
Statements
This news release contains “forward-looking
statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “believe,”
“estimate,” “expect,” “strategy,” “should,” “will” and similar references
to future periods. Examples of forward-looking statements include, among others, statements we make concerning the Company’s
business outlook, future economic performance, anticipated profitability, revenues, expenses, or other financial items, anticipated
cost synergies and product or service line growth.
Forward-looking statements are neither
historical facts nor assurances of future performance. Instead, they are estimates that reflect the best judgment of SQM management
based on currently available information. Because forward-looking statements relate to the future, they involve a number of risks,
uncertainties and other factors that are outside of our control and could cause actual results to differ materially from those
stated in such statements. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to the
documents filed by SQM with the United States Securities and Exchange Commission, specifically the most recent annual report on
Form 20-F, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking
statements. All forward-looking statements are based on information available to SQM on the date hereof and SQM assumes no obligation
to update such statements, whether as a result of new information, future developments or otherwise.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CHEMICAL AND MINING COMPANY
OF CHILE INC.
(Registrant)
Date: July 12, 2017
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/s/ Ricardo Ramos
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By: Ricardo Ramos
CFO & Vice-President of Development
Persons who are
to respond to the collection of information contained SEC 1815 (04-09) in this form are not required to respond unless the form
displays currently valid OMB control number.
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