Form SD - Specialized disclosure report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM SD

Specialized Disclosure Report

SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.

(Exact name of registrant as specified in its charter)

Chile

33-65728

N/A

(State or other jurisdiction
of incorporation or organization)

(Commission
File Number)

(IRS Employer
Identification No.)

El Trovador 4285, 6th floor, Santiago, Chile

(Address of principal executive offices, including Zip Code)

Gerardo Illanes, +56 2 2425-2485

(Name and telephone number, including area code, of the person to contact in connection with this report.)

Check the appropriate box to indicate the rule pursuant to which this Form is being filed, and provide the period to which the information in this form applies:

___

Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period January 1 to
December 31, 2023.

Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.

Section 2 - Resource Extraction Issuer Disclosure

Item 2.01 Resource Extraction Issuer Disclosure and Report

Disclosure of Payments by Resource Extraction Issuers

This report provides a consolidated overview of the payments to governments made by Sociedad Química y Minera de Chile S.A. and its consolidated subsidiaries for the year ended December 31, 2023.

The specified payment disclosure required by this Item 2.01 is included as Exhibit 2.01 to this Form SD.

Section 3 - Exhibits

Item 3.01 Exhibits

The following exhibit is submitted as part of this report.

Exhibit Number

Exhibit

2.01

Resource Extraction Payment Report

SIGNATURE

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 duly authorized undersigned.

SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.

Date: October 11, 2024

By: /s/ Gerardo Illanes

Gerardo Illanes
Chief Financial Officer

Exhibit 2.01

Resource Extraction Payment Report

This report discloses the payments made by Sociedad Química y Minera de Chile S.A. to governments for the commercial development of minerals and which involve the exploration, extraction, processing and export of such minerals, or the acquisition of a license for any such activity. Unless the context otherwise indicates, the terms “SQM,” “we,” “us,” “our” or the “Company” mean Sociedad Química y Minera de Chile S.A. and its consolidated subsidiaries. Payments to foreign governments include payments to the national government as well as subnational governments, such as the government of a state, province, department, county, district, municipality or territory under that foreign national government. All payments are reported in U.S. dollars, which is the presentation currency

of our consolidated financial statements under IFRS. Payments that were made in currencies other than U.S. dollars have been converted to U.S. dollars using the exchange rates existing at the time the payment is made. All payments are reported on a cash basis, meaning that they are reported in the period which they are paid, as opposed to being reported on an accrual basis (which would mean that they are were reported in the period for which the liabilities arise).

At December 31, 2023, SQM had the following mineral extraction projects:

Location / Project

Business Segment

Ownership %

Resource

Extraction Type /Method

Australia

Mt. Holland (a)

Lithium and its Derivatives

Lithium

Open pit

Chile

Salar de Atacama

Lithium and its Derivatives;
Potassium

100

Lithium; Potassium

Well

El Norte Grande Caliche (b)

Specialty Plant Nutrition; Iodine and its Derivatives; Industrial Chemicals

100

Nitrates; Iodine

Open pit

(a) Payment information relating to the Mt. Holland project is not disclosed in this report as the Company is not the operator of the project, which is proportionately consolidated in the Company’s financial statements. The Mt. Holland project is owned by a 50-50 joint venture between SQM and Wesfarmers Limited.

(b) The El Norte Grande Caliche, located in Regions I and II of northern Chile, includes our caliche mining operations and facilities at the Nueva Victoria, Pampa Blanca, Pedro de Valdivia and Maria Elena sites.

Project-level disclosure

The following table provides a breakdown of payments made by the Company to governments, by project and type of payment, for the year ended December 31, 2023 (in thousands US$):


	Year ended December 31, 2023
	Taxes (a)		Commissions/Royalties (b)		Fees		Community and Social Responsibility Payment (c)		Total
Chile

Salar de Atacama	$	1,971,665	$	2,531,341	$	–	$	148,034	$	4,651,040
Lithium and its Derivatives	$	–	$	2,490,990	$	–	$	148,034	$	2,639,024
Potassium	$	–	$	40,351	$	–	$	–	$	40,351

El Norte Grande Caliche	$	353,213	$	–	$	–	$	2,943	$	356,156
Total	$	2,324,878	$	2,531,341	$	–	$	150,977	$	5,007,196

(a) Income taxes are viewed at the entity level and not by business segment.

(b) Includes commission paid to Corporación de Fomento de la Producción de Chile (CORFO) based on the sales price/metric ton on the amounts sold from the Company’s operations in the Salar de Atacama in Chile as part of its mineral rights agreement with the Chilean government.

(c) Community and Social Responsibility payments correspond to Lithium and its Derivatives business segment for the Salar de Atacama and to Iodine and its Derivatives business segment for El Norte Grande Caliche.

Government-level disclosure

The following table provides a breakdown of payments made by the Company to governments, by level of government and type of payment, for the year ended December 31, 2023 (in thousands of US$):


	Year ended December 31, 2023
	Taxes		Commissions/Royalties		Fees		Community and Social Responsibility Payment		Total
Chile
Corporación de Fomento de la Producción de Chile (CORFO)(a)	$	–	$	2,531,341	$	–	$	–	$	2,531,341
Tesorería General de la República	$	2,324,878	$	–	$	–	$	–	$	2,324,878
Various local Chilean municipalities/communities(b)	$	–	$	–	$	–	$	150,977	$	150,977
Total	$	2,324,878	$	2,531,341	$	–	$	150,977	$	5,007,196

(a) Commission paid to CORFO based on the sales price/metric ton of the amounts sold from the Company’s operations in the Salar de Atacama in Chile as part of its mineral rights lease agreements with the Chilean government.

(b) As part of its mineral rights lease agreement with the Chilean government as well as direct agreements with local communities, the Company makes community and social responsibility payments to local communities in Chile, contributions to research and development, and contributions to the regional development to the Antofagasta Regional Government and to the San Pedro de Atacama, María Elena and Antofagasta municipalities in Chile.

Document Information	12 Months Ended
Document Information	Dec. 31, 2023
Document Information:
Document Type	2.01 SD
Amendment	false
CIK	0000909037
Registrant Name	CHEMICAL & MINING CO OF CHILE INC
Period End Date	Dec. 31, 2023
Reporting Currency	USD

Payments, by Category - USD ($) $ in Thousands	Taxes	Royalties	Comm. Social Resp.	Total Payments
Total	$ 2,324,878	$ 2,531,341	$ 150,977	$ 5,007,196

Payments, by Project - 12 months ended Dec. 31, 2023 - USD ($) $ in Thousands	Taxes	Royalties	Comm. Social Resp.	Total Payments
Total	$ 2,324,878	$ 2,531,341	$ 150,977	$ 5,007,196
Salar de Atacama [Member]
Total	1,971,665	$ 2,531,341	148,034	4,651,040
El Norte Grande Caliche [Member]
Total	$ 353,213		$ 2,943	$ 356,156

Payments, by Government - 12 months ended Dec. 31, 2023 - USD ($) $ in Thousands	Taxes	Royalties	Comm. Social Resp.	Total Payments
Total	$ 2,324,878	$ 2,531,341	$ 150,977	$ 5,007,196
CHILE \| Corporación de Fomento de la Producción de Chile (CORFO) [Member]
Total		$ 2,531,341		2,531,341
CHILE \| Tesorería General de la República [Member]
Total	$ 2,324,878			2,324,878
CHILE \| Various Local Chilean Municipalities/Communities [Member]
Total			$ 150,977	$ 150,977

Payments, Details - 12 months ended Dec. 31, 2023 - USD ($) $ in Thousands	Amount	Type	Country	Govt.	Project	Resource	Segment	Ext. Method
#: 1
	$ 1,971,665	Taxes	CHILE	Tesorería General de la República [Member]	Salar de Atacama [Member]	Lithium and Potassium [Member]		Well
#: 2
	2,490,990	Royalties	CHILE	Corporación de Fomento de la Producción de Chile (CORFO) [Member]	Salar de Atacama [Member]	Lithium and Potassium [Member]	Lithium And Its Derivatives [Member]	Well
#: 3
	40,351	Royalties	CHILE	Corporación de Fomento de la Producción de Chile (CORFO) [Member]	Salar de Atacama [Member]	Lithium and Potassium [Member]	Potassium [Member]	Well
#: 4
	148,034	Comm. Social Resp.	CHILE	Various Local Chilean Municipalities/Communities [Member]	Salar de Atacama [Member]	Lithium and Potassium [Member]	Lithium And Its Derivatives [Member]	Well
#: 5
	353,213	Taxes	CHILE	Tesorería General de la República [Member]	El Norte Grande Caliche [Member]	Nitrates and Iodine [Member]		Open Pit
#: 6
	$ 2,943	Comm. Social Resp.	CHILE	Various Local Chilean Municipalities/Communities [Member]	El Norte Grande Caliche [Member]	Nitrates and Iodine [Member]	Specialty Plant Nutrition, Iodine And Its Derivatives, Industrial Chemicals [Member]	Open Pit