SQM Reports Strong Q2 Performance with Record Lithium Sales
Sociedad Quimica y Minera (NYSE: SQM) reported strong second-quarter results, driven by record lithium sales of over 84,000 metric tons of LCE and higher prices. The company also noted favorable iodine pricing and increased specialty plant nutrition sales. It now forecasts global lithium demand to exceed 2.1 million metric tons in 2026 due to strong production increases from China, Africa, Argentina, and Australia. SQM is advancing its Salar Futuro project with Codelco, which could require $3 billion over seven years for expanded production using lower-impact technology at the Salar de Atacama. Additionally, SQM's Mt Holland expansion in Australia aims to double spodumene concentrate capacity to 350,000 metric tons annually by early 2030. The company plans $3 billion of capital spending from 2026–2028 focused on growth and cost efficiency. Iodine demand remains strong, while specialty plant nutrition sales are expected to rise about 10% in 2026.
Tickers: $SQM
Topics: capital spending expansion projects iodine lithium specialty plant nutrition