Chile’s SQM amends customary transactions policy

Bnamericas Published: Thursday, March 04, 2021
Chile’s SQM amends customary transactions policy

Chilean lithium and non-metallic miner SQM has modified its policy on customary transactions with related subsidiaries and affiliates in Chile, Peru, Brazil, North America, Belgium, Italy, Australia, Abu Dhabi and Dubai. 

The policy on customary transactions is a mechanism established by the company's board to fast-track operations between related parties, eliminating the need for board approval for frequent transactions.

According to a statement sent by SQM to Chile’s financial market commission (CMF), customary transactions with Soquimich Comercial, Ajay SQM Chile, Ajay North America, Ajay Europe, SQM Vitas Fzco, SQM Vitas Holland, SQM Vitas Brasil Agroindustria, SQM Vitas Peru, Abu Dhabi Fertilizer Industries, Plantacote and Pavoni & C, will include sales, marketing and distribution of the products extracted and processed by SQM, as well as advisory services, back office services, and operations seeking to finance its affiliates subsidiaries for amounts that do not exceed US$5mn in consecutive 12-month periods. 

Likewise, customary transactions operations between SQM and Covalent Lithium Pty will include services related to engineering and environmental studies regarding the development and construction of the Mt. Holland project in Australia. 

Contracting of telecommunications and technology services with Chilean firms Empresa Nacional de Telecomunicaciones and Entel PCS Telecomunicaciones, as well as financial operations with Banco de Chile, will be also considered customary transactions. 

The last changes in SQM's customary transaction policy were made in 2018.

Photo credit: SQM

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Chile)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Dominga
  • Current stage: Blurred
  • Updated: 3 weeks ago
  • Project: El Zorro
  • Current stage: Blurred
  • Updated: 4 weeks ago
  • Project: Oso Negro
  • Current stage: Blurred
  • Updated: 1 month ago

Other companies in: Mining & Metals (Chile)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Barrick Latam
  • Gold mining company Barrick Latam operates as the regional business unit of Canada's Barrick Gold Corp. in Argentina, Chile, Peru and Dominican Republic. The company today owns ...
  • Company: Minera Playa Verde Ltda.  (Minera Playa Verde)
  • Minera Playa Verde Ltda. is a Chilean miner currently developing the Playa Verde copper tailings project, located in Chañaral Bay, in Atacama region (III). The site contains at ...
  • Company: Mantoverde S.A.  (Mantoverde)
  • Mantoverde S.A. is a Chilean mining company, subsidiary of Mantos Copper S.A., which is dedicated to the exploration, extraction, exploitation and production of minerals and con...
  • Company: Compañía Minera La Merced
  • Compañía Minera La Merced, wholly owned by Chilean forestry, fishing and fuels holding company Empresas Copec, through its mining investment arm Alxar Minería, is a mining compa...
  • Company: Minera Escondida Ltda.  (Minera Escondida)
  • Minera Escondida Ltda. is a Chilean miner which operates the largest copper mine in the world. It produces copper concentrates from copper sulfide ore processed by flotation, an...
  • Company: Minera Spence S.A.
  • Minera Spence is engaged in the production of copper cathodes through an open pit operation in northern Chile's Sierra Gorda municipality, Antofagasta region (II). Its high puri...