Chile’s SQM increases lithium sales by 56%

SQM said it continued to boost sales of lithium even as low prices battered profits, prompting the company to announce a further expansion by 2023. SQM said it had sold 17,700 tonnes of lithium in the third quarter, a 56% increase from the same period the previous year. SQM’s net income plunged 97% year-on-year to $1.7 million in the quarter, dragged down by low prices and a one-time $62.5 million settlement fee in a class action lawsuit.

Source: Reuters