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Joint Ventures | 12 Months Ended
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Dec. 31, 2019
Disclosure Of Joint Ventures Explanatory [Abstract] |
Disclosure of joint ventures [text block] | Note 9 Joint Ventures 9.1 Policy for the accounting of equity accounted investment in joint ventures The method for recognizing joint ventures is that in which participation is initially recorded at cost, and subsequently adjusted, considering changes after the acquisition in the portion of the entity’s net assets that correspond to the investor. Profit or loss for the period will include the portion of the entity’s entire profit or loss that correspond to the investor. For these joint ventures, there is no quoted market price to measure these investments. (See Note 2.6) At the date of issuance of these financial statements, SQM is not aware of the existence of any significant contingent liabilities associated with the partnerships in joint ventures. 9.2 Disclosures of interest in joint ventures a) Operations conducted in 2019
|  | On January 1, 2019, SQM Vitas Perú changed its functional currency from the Peruvian Sol to USD (United States dollar).
|  | During the fourth quarter del 2019, SQM Vitas Fzco paid dividends of ThUS$ 21,196.
b) Operations conducted in 2018
|  | During the first quarter of 2018, Minera Exar S.A. increased its capital by ThUS$ 13,000. The entity was a joint venture and contributions were made on January 25, 2018 (ThUS$ 6,000) and on February 14, 2018 (ThUS$ 7,000) by SQM Potasio S.A. and Lithium Americas Corporation (LAC). Both partners share 50% ownership of the respective company.
|  | On March 14, 2018, the company SQM Vitas Plantacote B.V. was closed.
|  | As of the date, Minera Exar S.A. has changed its functional currency from the Argentine peso to the United States dollar.
|  | In April 2018, Minera Exar made a new capital increase of ThUS$ 7,000, which was contributed in equal parts by its partners.
|  | On May 15, 2018, the subsidiary Soquimich European Holdings BV, signed a joint venture agreement with PAVONI & C., SpA in Italy, EUR 5.5 million were paid for a 50% share, generating a lower value of EUR 2.6 million. The functional currency of the joint venture is the Euro.
|  | On December 31, 2018, the conditions were met for Covalent Lithium Pty Ltd, to be recognized as a separate joint venture. In previous years, the financial statements for this entity were included as part of SQM Australia Pty.
|  | On December 31, 2018, as part of the investment in Pavoni & C., SpA. the goodwill generated in the purchase of this joint venture by an amount of ThUS$ 3,206.
|  | The subsidiary SQM Industrial S.A. recorded an impairment loss of ThUS$ 8,802, corresponding to its Sichuan SQM-Migao Chemical Fertilizer Co, Ltd, joint venture. The impairment is disclosed by netting the value of the aforementioned investment, in the caption “Equity method investments ".
|  | During December 2018, the Company sold its shares in Minera Exar S.A. and generated a profit before taxes of ThUS$ 14,507.
c) Operations conducted in 2017 On December 1, 2017, SQM Potasio S.A. recognized the goodwill value generated by the acquisition of 50% of the joint venture Minera Exar S.A. in the amount of ThUS$6,205. On October 6, 2017, a capital contribution of ThUS$13,300 was made in the mining entity EXAR S.A., which was 50% owned by the subsidiary SQM Potasio S.A. The functional currency of EXAR S.A. was the Argentine peso (ARS). This contribution had no impact on the Company's consolidated results. 9.3 Investment in joint ventures accounted for under the equity method of accounting
|  |  |  |  |  |  |  |  |  |  |  |  |  | Dividends received |
|  |  |  |  |  |  |  |  |  |  |  |  |  | For the year |  |  | For the year |  |  | For the year |
|  | Description of the nature |  |  |  |  |  | Country of |  |  | Share of interest |  |  | ended December |  |  | ended December |  |  | ended December |
Joint venture |  | of the relationship |  |  | Domicile |  |  | incorporation |  |  | in ownership |  |  | 31, 2019 |  |  | 31, 2018 |  |  | 31, 2017 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | Production and distribution of soluble fertilizers. |  |  |  | Huangjing Road, Dawan Town, Qingbaijiang District, Chengdu Municipality, Sichuan Province |  |  |  | China |  |  |  | 50% |  |  |  | - |  |  |  | - |  |  |  | - |
Coromandel SQM India |  |  | Production and distribution of potassium nitrate. |  |  |  | 1-2-10, Sardar Patel Road, Secunderabad – 500003 Andhra Pradesh |  |  |  | India |  |  |  | 50% |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Fzco. |  |  | Production and commercialization of specialty plant and animal nutrition and industrial hygiene. |  |  |  | Jebel ALI Free Zone P.O. Box 18222, Dubai |  |  |  | United Arab Emirates |  |  |  | 50% |  |  |  | 10,598 |  |  |  | - |  |  |  | - |
SQM Qingdao Star Corp Nutrition Co. Ltd. |  |  | Production and distribution of nutrient plant solutions with specialties NPK soluble. |  |  |  | Longquan Town, Jimo City, Qingdao Municipality, Shangdong Province |  |  |  | China |  |  |  | 50% |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Holland |  |  | Without information production of specialized fertilizers and other products for distribution in Italy and other countries. |  |  |  | Herikerbergweg 238, 1101 CM Amsterdam Zuidoost |  |  |  | Holland |  |  |  | 50% |  |  |  | - |  |  |  | - |  |  |  | - |
Pavoni & C. Spa |  |  | products for distribution in Italy and other countries. |  |  |  | Corso Italia 172, 95129 Catania (CT), Sicilia |  |  |  | Italy |  |  |  | 50% |  |  |  | - |  |  |  | - |  |  |  | - |
Covalent Lithium Pty Ltd. |  |  | Development and operation of the Mt Holland Lithium project, which will include the construction of a lithium extraction and refining mine |  |  |  | L18, 109 St Georges Tce Perth WA 6000 |PO Box Z5200 St Georges Tce Perth WA 6831 |  |  |  | Australia |  |  |  | 50% |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,598 |  |  |  | - |  |  |  | - |
The companies described in the following table are related to the following joint ventures:
| (1) | SQM Vitas Fzco.
| (2) | Pavoni & C Spa
|  |  |  |  |  |  |  |  |  |  |  |  |  | Dividends received |
Joint venture |  | Description of the nature of the relationship |  |  | Domicile |  |  | Country of incorporation |  |  | Share of interest in ownership (*) |  |  | For the year ‎ ended December ‎ 31, 2019 |  |  | For the year ‎ ended December ‎ 31, 2018 |  |  | For the year ended ‎ December 31, 2017 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM Vitas Brasil Agroindustria (1) |  |  | Production and trading of specialty vegetable and animal nutrition and industrial hygiene. |  |  |  | Via Cndeias, Km. 01 Sem Numero, Lote 4, Bairro Cia Norte, Candeias, Bahia. |  |  |  | Brazil |  |  |  | 49.99% |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Perú S.A.C. (1) |  |  | Production and trading of specialty vegetable and animal nutrition and industrial hygiene |  |  |  | Av. Juan de Arona 187, Torre B, Oficina 301-II, San Isidro, Lima |  |  |  | Perú |  |  |  | 50% |  |  |  | - |  |  |  | - |  |  |  | - |
Arpa Speciali S.R.L. (2) |  |  | Production of specialty fertilizers and others for distribution in Italy and other countries. |  |  |  | Mantova (MN) Via Cremona 27 Int. 25 |  |  |  | Italy |  |  |  | 50.48% |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |
(*) The percentages presented correspond to the ownership used in the consolidation of the company.
|  | Equity-accounted investees |  |  | Share in profit (loss) of associates and joint ventures ‎ accounted for using the equity method |
Joint Venture |  | As of December ‎ 31, 2019 |  |  | As of December ‎ 31, 2018 |  |  | As of December ‎ 31, 2017 |  |  | For the year ‎ ended December ‎ 31, 2019 |  |  | For the year ‎ ended December ‎ 31, 2018 |  |  | For the year ‎ ended December ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | 1,992 |  |  |  | 1,992 |  |  |  | 11,444 |  |  |  | (632 | ) |  |  | (650 | ) |  |  | (535 | )
Coromandel SQM India |  |  | 1,568 |  |  |  | 1,729 |  |  |  | 1,633 |  |  |  | (98 | ) |  |  | 174 |  |  |  | 165 |
SQM Vitas Fzco. |  |  | 9,111 |  |  |  | 20,202 |  |  |  | 19,478 |  |  |  | 1,797 |  |  |  | 1,781 |  |  |  | 1,502 |
SQM Qingdao Star Corp Nutrition Co. Ltd. |  |  | 3,464 |  |  |  | 3,168 |  |  |  | 2,980 |  |  |  | 296 |  |  |  | 188 |  |  |  | 361 |
SQM Vitas Holland |  |  | 1,304 |  |  |  | 1,345 |  |  |  | 1,429 |  |  |  | (15 | ) |  |  | (14 | ) |  |  | (18 | )
Minera Exar S.A. (1) |  |  | - |  |  |  | - |  |  |  | 33,065 |  |  |  | - |  |  |  | (206 | ) |  |  | (27 | )
Pavoni & C. Spa |  |  | 6,864 |  |  |  | 7,084 |  |  |  | - |  |  |  | 36 |  |  |  | (39 | ) |  |  | - |
Covalent Lithium Pty Ltd. |  |  | 40 |  |  |  | 53 |  |  |  | - |  |  |  | - |  |  |  | 36 |  |  |  | - |
Total |  |  | 24,343 |  |  |  | 35,573 |  |  |  | 70,029 |  |  |  | 1,384 |  |  |  | 1,270 |  |  |  | 1,448 |
|  | Share on other comprehensive income of associates ‎ and joint ventures accounted for using the equity ‎ method, net of tax |  |  | Share on total other comprehensive income of ‎ associates and joint ventures accounted for using ‎ the equity method |
Joint Venture |  | For the year ‎ ended December ‎ 31, 2019 |  |  | For the year ‎ ended December ‎ 31, 2018 |  |  | For the year ‎ ended December ‎ 31, 2017 |  |  | For the year ‎ ended December ‎ 31, 2019 |  |  | For the year ‎ ended December ‎ 31, 2018 |  |  | For the year ‎ ended December ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (631 | ) |  |  | (650 | ) |  |  | (535 | )
Coromandel SQM India |  |  | (38 | ) |  |  | (159 | ) |  |  | - |  |  |  | (136 | ) |  |  | 15 |  |  |  | 165 |
SQM Vitas Fzco. |  |  | 437 |  |  |  | (903 | ) |  |  | (5 | ) |  |  | 2,234 |  |  |  | 878 |  |  |  | 1,497 |
SQM Qingdao Star Corp Nutrition Co. Ltd. |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 296 |  |  |  | 188 |  |  |  | 361 |
SQM Vitas Holland |  |  | (27 | ) |  |  | (70 | ) |  |  | - |  |  |  | (42 | ) |  |  | (84 | ) |  |  | (18 | )
Minera Exar S.A. (1) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (206 | ) |  |  | (27 | )
Pavoni & C. Spa |  |  | (255 | ) |  |  | 70 |  |  |  | - |  |  |  | (219 | ) |  |  | 31 |  |  |  | - |
Covalent Lithium Pty Ltd. |  |  | (13 | ) |  |  | - |  |  |  | - |  |  |  | (13 | ) |  |  | 36 |  |  |  | - |
Total |  |  | 104 |  |  |  | (1,062 | ) |  |  | (5 | ) |  |  | 1,489 |  |  |  | 208 |  |  |  | 1,443 |
(1) Minera Exar S.A. was sold in December 2018, The amounts described in the following box represent numbers used in the consolidation of the company:
|  | Equity-accounted investees |  |  | Share in profit (loss) of associates and joint ventures ‎ accounted for using the equity method |
Joint Venture |  | As of December ‎ 31, 2019 |  |  | As of December ‎ 31, 2018 |  |  | As of December ‎ 31, 2017 |  |  | For the year ‎ ended December ‎ 31, 2019 |  |  | For the year ‎ ended December ‎ 31, 2018 |  |  | For the year ‎ ended December ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM Vitas Brasil Agroindustria (1) |  |  | 5,347 |  |  |  | 5,915 |  |  |  | 11,003 |  |  |  | 564 |  |  |  | 1,439 |  |  |  | 1,753 |
SQM Vitas Perú S.A.C. (1) |  |  | 1,955 |  |  |  | 2,671 |  |  |  | 5,961 |  |  |  | 211 |  |  |  | (275 | ) |  |  | (216 | )
SQM Vitas Plantacote B.V. (2) |  |  | - |  |  |  | - |  |  |  | 669 |  |  |  | - |  |  |  | - |  |  |  | (1 | )
Arpa Speciali S.R.L. (2) |  |  | 92 |  |  |  | 62 |  |  |  | - |  |  |  | 31 |  |  |  | (44 | ) |  |  | - |
Total |  |  | 7,394 |  |  |  | 8,648 |  |  |  | 17,633 |  |  |  | 806 |  |  |  | 1,120 |  |  |  | 1,536 |
|  | Share on other comprehensive income of associates ‎ and joint ventures accounted for using the equity ‎ method, net of tax |  |  | Share on total other comprehensive income of ‎ associates and joint ventures accounted for using ‎ the equity method |
Joint Venture |  | For the year ‎ ended December ‎ 31, 2019 |  |  | For the year ‎ ended December ‎ 31, 2018 |  |  | For the year ‎ ended December ‎ 31, 2017 |  |  | For the year ‎ ended December ‎ 31, 2019 |  |  | For the year ‎ ended December ‎ 31, 2018 |  |  | For the year ‎ ended December ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM Vitas Brasil Agroindustria (1) |  |  | (225 | ) |  |  | (792 | ) |  |  | (51 | ) |  |  | 338 |  |  |  | 647 |  |  |  | 826 |
SQM Vitas Perú S.A.C. (1) |  |  | 661 |  |  |  | (112 | ) |  |  | - |  |  |  | 872 |  |  |  | (387 | ) |  |  | (108 | )
SQM Vitas Plantacote B.V. (2) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | )
Arpa Speciali S.R.L. (2) |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | 30 |  |  |  | (44 | ) |  |  | - |
Total |  |  | 435 |  |  |  | (904 | ) |  |  | (51 | ) |  |  | 1.240 |  |  |  | 216 |  |  |  | 717 |
The following companies are subsidiaries of: (1) SQM Vitas Fzco. (2) Pavoni & C. Spa 9.4 Assets, liabilities, revenue and expenses from joint ventures:
|  | As of and for the year ended December 31, 2019 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gain (loss) from |  |  | Other |  |  |  |
|  | Assets |  |  | Liabilities |  |  |  |  |  | continuing |  |  | comprehensive |  |  | Comprehensive |
Joint Venture |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | operations |  |  | income |  |  | income |
|  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | 28,668 |  |  |  | 5,129 |  |  |  | 13,472 |  |  |  | - |  |  |  | 7 |  |  |  | (1,262 | ) |  |  | - |  |  |  | (1,262 | )
Coromandel SQM India |  |  | 4,504 |  |  |  | 633 |  |  |  | 1,704 |  |  |  | - |  |  |  | 8,197 |  |  |  | (197 | ) |  |  | (77 | ) |  |  | (274 | )
SQM Vitas Fzco. |  |  | 9,695 |  |  |  | 20,014 |  |  |  | 1,136 |  |  |  | - |  |  |  | 36 |  |  |  | 3,595 |  |  |  | (876 | ) |  |  | 2,719 |
SQM Qingdao Star Corp Nutrition Co. Ltd. |  |  | 7,534 |  |  |  | 26 |  |  |  | 632 |  |  |  | - |  |  |  | 12,003 |  |  |  | 592 |  |  |  | - |  |  |  | 592 |
SQM Vitas Holland |  |  | 2,609 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | (30 | ) |  |  | (53 | ) |  |  | (83 | )
SQM Vitas Brasil Agroindustria |  |  | 46,118 |  |  |  | 7,299 |  |  |  | 40,334 |  |  |  | - |  |  |  | 87,901 |  |  |  | 1,128 |  |  |  | (451 | ) |  |  | 677 |
SQM Vitas Perú S.A.C. |  |  | 29,452 |  |  |  | 8,378 |  |  |  | 24,855 |  |  |  | 6,044 |  |  |  | 28,590 |  |  |  | 421 |  |  |  | 1,322 |  |  |  | 1,743 |
Pavoni & C. Spa |  |  | 9,444 |  |  |  | 7,074 |  |  |  | 8,466 |  |  |  | 735 |  |  |  | 14,296 |  |  |  | 71 |  |  |  | (510 | ) |  |  | (439 | )
Covalent Lithium Pty Ltd. |  |  | 1,616 |  |  |  | 958 |  |  |  | 2,111 |  |  |  | 383 |  |  |  | - |  |  |  | - |  |  |  | (25 | ) |  |  | (25 | )
Total |  |  | 139,640 |  |  |  | 49,511 |  |  |  | 92,712 |  |  |  | 7,162 |  |  |  | 151,030 |  |  |  | 4,318 |  |  |  | (670 | ) |  |  | 3,648 |
|  | As of and for the year ended December 31, 2018 |
|  |  |  |  |  |  |  |  |  |  | Gain (loss) from |  |  | Other |  |  |  |
|  | Assets |  |  | Liabilities |  |  |  |  |  | continuing |  |  | comprehensive |  |  | Comprehensive |
Joint Venture |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | operations |  |  | income |  |  | income |
|  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | 28,577 |  |  |  | 5,913 |  |  |  | 12,902 |  |  |  | - |  |  |  | 16 |  |  |  | (1,301 | ) |  |  | - |  |  |  | (1,301 | )
Coromandel SQM India |  |  | 5,905 |  |  |  | 852 |  |  |  | 3,050 |  |  |  | - |  |  |  | 11,605 |  |  |  | 348 |  |  |  | (318 | ) |  |  | 30 |
SQM Vitas Fzco. |  |  | 30,430 |  |  |  | 17,592 |  |  |  | 2,678 |  |  |  | - |  |  |  | 16,583 |  |  |  | 3,561 |  |  |  | (1,806 | ) |  |  | 1,755 |
SQM Qingdao Star Corp Nutrition Co. Ltd. |  |  | 7,754 |  |  |  | 114 |  |  |  | 1,533 |  |  |  | - |  |  |  | 13,004 |  |  |  | 377 |  |  |  | - |  |  |  | 377 |
SQM Vitas Holland |  |  | 2,692 |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | (28 | ) |  |  | (139 | ) |  |  | (167 | )
SQM Vitas Brasil Agroindustria |  |  | 36,648 |  |  |  | 7,566 |  |  |  | 31,808 |  |  |  | - |  |  |  | 82,625 |  |  |  | 2,879 |  |  |  | (1,585 | ) |  |  | 1,294 |
SQM Vitas Perú S.A.C. |  |  | 22,365 |  |  |  | 7,785 |  |  |  | 18,996 |  |  |  | 5,966 |  |  |  | 28,619 |  |  |  | (550 | ) |  |  | (223 | ) |  |  | (773 | )
Pavoni & C. Spa |  |  | 10,062 |  |  |  | 6,490 |  |  |  | 8,098 |  |  |  | 698 |  |  |  | 15,461 |  |  |  | (79 | ) |  |  | 140 |  |  |  | 61 |
Covalent Lithium Pty Ltd. |  |  | 239 |  |  |  | 100 |  |  |  | 233 |  |  |  | - |  |  |  | - |  |  |  | 106 |  |  |  | - |  |  |  | 106 |
Total |  |  | 144,672 |  |  |  | 46,412 |  |  |  | 79,299 |  |  |  | 6,664 |  |  |  | 167,913 |  |  |  | 5,313 |  |  |  | (3,931 | ) |  |  | 1,382 |
9.5 Other Joint Venture disclosures:
|  | Cash and cash equivalents |  |  | Other current financial liabilities |  |  | Other non-current financial liabilities |
Joint Venture |  | As of December 31, 2019 |  |  | As of December 31, 2018 |  |  | As of December 31, 2019 |  |  | As of December 31, 2018 |  |  | As of December 31, 2019 |  |  | As of December 31, 2018 |
|  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | 33 |  |  |  | 106 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Coromandel SQM India |  |  | 2,240 |  |  |  | 308 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Fzco. |  |  | 3,071 |  |  |  | 19,312 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Qingdao Star Corp Nutrition Co. Ltd. |  |  | 4,640 |  |  |  | 4,543 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Holland |  |  | 2,609 |  |  |  | 2,692 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Brasil Agroindustria |  |  | 2,101 |  |  |  | 1,869 |  |  |  | 9,106 |  |  |  | 13,380 |  |  |  | - |  |  |  | - |
SQM Vitas Perú S.A.C. |  |  | 225 |  |  |  | 371 |  |  |  | 258 |  |  |  | 3,819 |  |  |  | 895 |  |  |  | 801 |
Pavoni & C. Spa |  |  | 314 |  |  |  | 407 |  |  |  | 5,509 |  |  |  | 5,464 |  |  |  | - |  |  |  | - |
Covalent Lithium Pty Ltd. |  |  | 693 |  |  |  | 156 |  |  |  | 472 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 15,926 |  |  |  | 29,764 |  |  |  | 15,345 |  |  |  | 22,663 |  |  |  | 895 |  |  |  | 801 |
|  | Depreciation and amortization expense |  |  | Interest expense |  |  | Income tax benefit (expense) from ‎ continuing operations |
Joint Venture |  | For the year ‎ ended ‎ December ‎ 31, 2019 |  |  | For the year ‎ ended ‎ December ‎ 31, 2018 |  |  | For the year ‎ ended ‎ December ‎ 31, 2017 |  |  | For the year ‎ ended ‎ December ‎ 31, 2019 |  |  | For the year ‎ ended ‎ December ‎ 31, 2018 |  |  | For the year ‎ ended ‎ December ‎ 31, 2017 |  |  | For the year ‎ ended ‎ December ‎ 31, 2019 |  |  | For the year ‎ ended ‎ December ‎ 31, 2018 |  |  | For the year ‎ ended ‎ December ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | (743 | ) |  |  | (948 | ) |  |  | (691 | ) |  |  | - |  |  |  | (1 | ) |  |  | (433 | ) |  |  | 153 |  |  |  | 97 |  |  |  | 200 |
Coromandel SQM India |  |  | (291 | ) |  |  | 445 |  |  |  | - |  |  |  | (4 | ) |  |  | (9 | ) |  |  | (49 | ) |  |  | (27 | ) |  |  | (38 | ) |  |  | (44 | )
SQM Vitas Fzco. |  |  | - |  |  |  | (509 | ) |  |  | (717 | ) |  |  | (7 | ) |  |  | (8 | ) |  |  | (16 | ) |  |  | - |  |  |  | - |  |  |  | - |
SQM Qingdao Star Corp Nutrition Co. Ltd. |  |  | (62 | ) |  |  | (67 | ) |  |  | (64 | ) |  |  | - |  |  |  | - |  |  |  | (1 | ) |  |  | (241 | ) |  |  | (187 | ) |  |  | (195 | )
SQM Vitas Holland |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (337 | )
SQM Vitas Plantacote B.V. |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Brasil Agroindustria |  |  | (33 | ) |  |  | (408 | ) |  |  | (438 | ) |  |  | (1,176 | ) |  |  | (886 | ) |  |  | (2,127 | ) |  |  | 181 |  |  |  | (117 | ) |  |  | - |
SQM Vitas Perú S.A.C. |  |  | (287 | ) |  |  | (347 | ) |  |  | (82 | ) |  |  | (435 | ) |  |  | (425 | ) |  |  | (323 | ) |  |  | (316 | ) |  |  | (230 | ) |  |  | (362 | )
Pavoni & C. Spa |  |  | (149 | ) |  |  | (542 | ) |  |  | - |  |  |  | - |  |  |  | (335 | ) |  |  | - |  |  |  | (214 | ) |  |  | - |  |  |  | - |
Covalent Lithium Pty Ltd. |  |  | (126 | ) |  |  | (16 | ) |  |  | - |  |  |  | (32 | ) |  |  | (5 | ) |  |  | - |  |  |  | - |  |  |  | (46 | ) |  |  | - |
Total |  |  | (1,691 | ) |  |  | (2,392 | ) |  |  | (1,992 | ) |  |  | (1,655 | ) |  |  | (1,669 | ) |  |  | (2,950 | ) |  |  | (464 | ) |  |  | (521 | ) |  |  | (738 | )
9.6 Joint Ventures In 2017, we continued to expand our operations outside Chile and, together with our subsidiary SQM Australia Pty, we entered into an agreement to acquire 50% of the assets of the Mount Holland lithium project in Western Australia. We entered into a 50/50 unincorporated joint operation with Kidman Resources Limited (“Kidman”), the Mt Holland Lithium Project, to design, construct and operate a mine, concentrator and refinery to produce approximately 45,000 metric tons of lithium hydroxide per year. Kidman retained the exclusive right to exploit gold within the project area. SQM Australia Pty committed to pay a price of US$ 70 million for the 50% of the Mt Holland assets, which was split into an initial payment of US$15 million and a deferred payment of US$ 55 million, both payments subject to certain conditions precedent. As agreed by the parties, US$ 40 million of a total of US$70 million paid to Kidman was provided directly to the project and SQM Australia paid an additional (i) US$ 10 million as part of the initial payment, and (ii) US$ 30 million once the deferred payment took place. An additional US$ 5 million for Kidman for resolution of legal disputes. All payments subject to conditions under the purchase agreement with Kidman were executed by December 2018 . This business met the conditions stipulated in IFRS 11 to be considered a "joint operation", since management has agreed that the rights of the related assets and liabilities relate to a joint arrangement, which states that the joint operators share all interests in the related assets and liabilities in specific proportions.

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