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Sociedad Química y Minera de Chile S.A.informs that as of today, it learned that as a result of not having incurred the mining exploration expenses required under the legal framework in 2015, the Warden's Court of the Department of Mines, Industry Regulation and Safety of Western Australia has recommended not to accept exceptions in the process to validate the granting of certain mining licenses to Kidman Resources, SQM's partner in the Mount Holland Project.
These mining properties are a requirement for the development of the project, which are yet to be transferred to the joint venture.
Although this recommendation by the Warden's Court is not a final decision on the requested exception, which should be made by the Mining Minster of Western Australia, it could generate uncertainty or delays the project.
SQM and Kidman are reviewing the decision made by the Warden's Court, and will define the next steps.