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17 Aug

SQM’s net profit shrink 32% in Q2 due to lower lithium prices

Chilean lithium miner SQM saw its net profit drop 32% in the second quarter of the year, on the back of lower lithium prices, despite historic high sales volume, Kallanish reports. The company posted a total net profit of $580.2 million in Q2, compared to $859.3m a year earlier. Revenues were down 21% on-year to $2.05 billion. Chief executive Ricardo Ramos explained lower realised average sales prices in the lithium business, its main income engine, drove the r…
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