XML 40 R14.htm IDEA: XBRL DOCUMENT
v3.20.4

Equity-accounted investees | 12 Months Ended
--- | ---
Dec. 31, 2020
Disclosure Of Equity-accounted investees [Abstract] |
Disclosure of investments accounted for using equity method [text block] |
Note 8 | Equity-accounted investees
| 8.1 | Investments in associates recognized according to the equity method of accounting
As of December 31, 2020, and December 31, 2019, in accordance with criteria established in Note 2:
|  | Equity-accounted investees |  |  | Share in profit (loss) of associates and joint ventures accounted for using the equity method for the period ended |  |  | Share in profit (loss) of associates and joint ventures accounted for using the equity method for the period ended |  |  | Share in total other comprehensive income of associates accounted for using the equity method for the period ended |
Associate |  | As of December 31, 2020 (**) |  |  | As of December 31, 2019 (**) |  |  | As of December 31, 2018 (**) |  |  | As of December 31, 2020 |  |  | As of December 31, 2019 |  |  | As of December 31, 2018 |  |  | As of December 31, 2020 |  |  | As of December 31, 2019 |  |  | As of December 31, 2018 |  |  | As of December 31, 2020 |  |  | As of December 31, 2019 |  |  | As of December 31, 2018 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Abu Dhabi Fertilizer Industries WWL |  |  | 11,505 |  |  |  | 11,609 |  |  |  | 10,821 |  |  |  | (156 | ) |  |  | 634 |  |  |  | 596 |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | (156 | ) |  |  | 635 |  |  |  | 596 |
Doktor Tarsa Tarim Sanayi AS (*) |  |  | - |  |  |  | 26,001 |  |  |  | 21,582 |  |  |  | 4,031 |  |  |  | 3,912 |  |  |  | 241 |  |  |  | - |  |  |  | 198 |  |  |  | 489 |  |  |  | 4,031 |  |  |  | 4,110 |  |  |  | 730 |
Ajay North America |  |  | 14,468 |  |  |  | 14,669 |  |  |  | 14,951 |  |  |  | 2,191 |  |  |  | 2,871 |  |  |  | 3,728 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,191 |  |  |  | 2,871 |  |  |  | 3,728 |
Ajay Europe SARL |  |  | 7,875 |  |  |  | 7,451 |  |  |  | 7,845 |  |  |  | 1,029 |  |  |  | 1,165 |  |  |  | 1,373 |  |  |  | 756 |  |  |  | (179 | ) |  |  | (439 | ) |  |  | 1,785 |  |  |  | 986 |  |  |  | 934 |
Charlee SQM Thailand Co Ltd |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 316 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 316 |
SQM Eastmed Turkey (*) |  |  | - |  |  |  | 623 |  |  |  | 310 |  |  |  | 247 |  |  |  | 354 |  |  |  | 370 |  |  |  | - |  |  |  | (42 | ) |  |  | (21 | ) |  |  | 247 |  |  |  | 312 |  |  |  | 349 |
Kore Potash PLC |  |  | 26,175 |  |  |  | 24,739 |  |  |  | 20,467 |  |  |  | (224 | ) |  |  | (534 | ) |  |  | (1,543 | ) |  |  | (374 | ) |  |  | (549 | ) |  |  | (1,206 | ) |  |  | (598 | ) |  |  | (1.083 | ) |  |  | (2,749 | )
Total |  |  | 60,023 |  |  |  | 85,092 |  |  |  | 75,976 |  |  |  | 7,118 |  |  |  | 8,402 |  |  |  | 5,081 |  |  |  | 382 |  |  |  | (571 | ) |  |  | (1.177 | ) |  |  | 7,500 |  |  |  | 7,831 |  |  |  | 3,904 |
(*) As of December 31, 2020, these investments no longer form part of the group. See Note 8.4 (a). (**) These investments include adjustments for unrealized results.
|  |  |  |  |  |  |  |  |  |  | Dividends received for the period ending |
Associate |  | Description of the nature of the relationship |  | Domicile |  | Country of incorporation |  | Share of ownership in associates |  |  | As of December 31, 2020 |  |  | As of December 31, 2019 |  |  | As of December 31, 2018 |
|  |  |  |  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Abu Dhabi Fertilizer Industries WWL |  | Distribution and commercialization of specialty plant nutrients in the Middle East. |  | PO Box 71871, Abu Dhabi |  | United Arab Emirates |  |  | 37 | % |  |  | - |  |  |  | - |  |  |  | 6,632 |
Ajay North America |  | Production and distribution of iodine and iodine derivatives. |  | 1400 Industry RD Power Springs GA 30129 |  | United States |  |  | 49 | % |  |  | 1,967 |  |  |  | 2,796 |  |  |  | 2,807 |
Ajay Europe SARL |  | Production and distribution of iodine and iodine derivatives. |  | Z.I. du Grand Verger BP 227 53602 Evron Cedex |  | France |  |  | 50 | % |  |  | 1,197 |  |  |  | 1,055 |  |  |  | 811 |
Charlee SQM Thailand Co Ltd |  | Production and distribution of iodine and iodine derivatives. |  | 31 Soi 138 (Meesuk) LLapdrawrd, Bangkapi, 10240 Bangkok |  | Thailand |  |  | 40 | % |  |  | - |  |  |  | - |  |  |  | 362 |
SQM Eastmed Turkey |  | Production and distribution of iodine and iodine derivatives. |  | Organize Sanayi Bolgesi, Ikinci Kisim, 22 cadde TR07100 Antalya |  | Turkey |  |  | 50 | % |  |  | - |  |  |  | - |  |  |  | - |
Kore Potash Ltd |  | Prospecting, exploration and mining development |  | L 3 88 William ST Perth, was 6000 |  | United Kingdom |  |  | 20.20 | % |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  |  |  |  |  |  |  |  |  |  |  | 3,164 |  |  |  | 3,851 |  |  |  | 10,612 |
The companies described in the table below are related parties of the following associates: (1) Doktor Tarsa Tarim Sanayi AS (2) Terra Tarsa B.V. (3) Abu Dhabi Fertilizer Industries WWL
|  |  |  |  |  |  |  |  |  |  | Dividends received for the period ending |
Associate |  | Description of the nature of the relationship |  | Domicile |  | Country of incorporation |  | Share of ownership in associates (*) |  |  | As of December 31, 2020 |  |  | As of December 31, 2019 |  |  | As of December 31, 2018 |
|  |  |  |  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Terra Tarsa Ukraine LLC (2) |  | Distribution and trading of specialty plant nutrients. |  | 74800 Ukraine, Kakhovka, 4 Yuzhnaya Str. |  | Ukraine |  |  | 100 | % |  |  | - |  |  |  | - |  |  |  | - |
Terra Tarsa BV (1) |  | Distribution and trading of specialty plant nutrients, in the Middle East. |  | Herikerbergweg 238, Luna Arena, 1101CM Amsterdam PO Box 23393, 1100DW Amsterdam Zuidoost |  | Holland |  |  | 50 | % |  |  | - |  |  |  | - |  |  |  | - |
Plantacote NV (1) |  | Sale of CRF and production and sales of WSNPK. |  | Houtdok-Noordkaai 25a, 2030 Antwerpen, Belgium |  | Belgium |  |  | 100 | % |  |  | - |  |  |  | - |  |  |  | - |
Doctochem Tarim Sanayai Ticaret LTD (1) |  | Production, distribution and trading of specialty plant nutrition. |  | Eski Büyükdere Cad No: 7 GIZ 2000 Plaza K:17 D:67-68 Maslak Sariyer Ístambul. |  | Turkey |  |  | 100 | % |  |  | - |  |  |  | - |  |  |  | - |
Terra Tarsa Don LLC (2) |  | Distribution and sale of specialty fertilizers. |  | Zorge Street, house 17, 344090, Rostov-on-Don |  | Russian Federation |  |  | 100 | % |  |  | - |  |  |  | - |  |  |  | - |
Doktolab Tarim Arastirma San. (1) |  | Laboratory services. |  | 27. Cd. No:2, 07190 Aosb 2. Kısım/Döşemealtı, Antalya, Turkey |  | Turkey |  |  | 100 | % |  |  | - |  |  |  | - |  |  |  | - |
International Technical and Trading Agencies Co WLL (3) |  | Distribution and trading of specialty plant nutrients, in the Middle East. |  | P.O Box: 950918 Amman 11195 |  | Jordan |  |  | 50 | % |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |
(*) This percentage does not consider the shareholdings of the holders of these subsidiaries.
| 8.2 | Assets, liabilities, revenue and expenses of associates
|  | As of December 31, 2020 |  |  | for the period ended as of December 31, 2020 |
|  | Assets |  |  | Liabilities |  |  |  |  |  |  |  |  | Other |  |  |  |
Associate |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | Gain (loss) |  |  | comprehensive Income |  |  | Comprehensive income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Abu Dhabi Fertilizer Industries WWL |  |  | 29,313 |  |  |  | 8,586 |  |  |  | 6,706 |  |  |  | 101 |  |  |  | 6,641 |  |  |  | (420 | ) |  |  | - |  |  |  | (420 | )
Ajay North America |  |  | 18,513 |  |  |  | 15,749 |  |  |  | 4,737 |  |  |  | - |  |  |  | 42,920 |  |  |  | 4,471 |  |  |  | - |  |  |  | 4,471 |
Ajay Europe SARL |  |  | 22,032 |  |  |  | 1,493 |  |  |  | 7,773 |  |  |  | - |  |  |  | 41,950 |  |  |  | 2,058 |  |  |  | 1,736 |  |  |  | 3,794 |
Kore Potash PLC |  |  | 5,691 |  |  |  | 124,112 |  |  |  | 786 |  |  |  | - |  |  |  | - |  |  |  | (3,233 | ) |  |  | 486 |  |  |  | (2,747 | )
Total |  |  | 75,549 |  |  |  | 149,940 |  |  |  | 20,002 |  |  |  | 101 |  |  |  | 91,511 |  |  |  | 2,876 |  |  |  | 2,222 |  |  |  | 5,098 |
|  | As of December 31, 2019 |  |  | for the period ended as of December 31, 2019 |
|  | Assets |  |  | Liabilities |  |  |  |  |  |  |  |  | Other |  |  |  |
Associate |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | Gain (loss) |  |  | comprehensive Income |  |  | Comprehensive income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Abu Dhabi Fertilizer Industries WWL |  |  | 28,543 |  |  |  | 9,971 |  |  |  | 7,133 |  |  |  | - |  |  |  | 31,588 |  |  |  | 1,713 |  |  |  | 4 |  |  |  | 1,717 |
Doktor Tarsa Tarim Sanayi AS |  |  | 97,797 |  |  |  | 15,196 |  |  |  | 22,420 |  |  |  | 38,522 |  |  |  | 93,768 |  |  |  | 7,824 |  |  |  | 396 |  |  |  | 8,220 |
Ajay North America |  |  | 19,748 |  |  |  | 13,250 |  |  |  | 3,061 |  |  |  | - |  |  |  | 38,833 |  |  |  | 5,860 |  |  |  | - |  |  |  | 5,860 |
Ajay Europe SARL |  |  | 19,589 |  |  |  | 1,456 |  |  |  | 6,144 |  |  |  | - |  |  |  | 35,709 |  |  |  | 2,329 |  |  |  | (358 | ) |  |  | 1,971 |
SQM Eastmed Turkey |  |  | 2,718 |  |  |  | 1,833 |  |  |  | 2,600 |  |  |  | 704 |  |  |  | 3,086 |  |  |  | 709 |  |  |  | (84 | ) |  |  | 625 |
Kore Potash PLC |  |  | 7,938 |  |  |  | 119,362 |  |  |  | 2,214 |  |  |  | - |  |  |  | - |  |  |  | (2,716 | ) |  |  | (2,791 | ) |  |  | (5,507 | )
Total |  |  | 176,333 |  |  |  | 161,068 |  |  |  | 43,572 |  |  |  | 39,226 |  |  |  | 202,984 |  |  |  | 15,719 |  |  |  | (2,833 | ) |  |  | 12,886 |
|  | As of December 31, 2018 |  |  | for the period ended as of December 31, 2018 |
|  | Assets |  |  | Liabilities |  |  |  |  |  |  |  |  | Other |  |  |  |
Associate |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | Gain (loss) |  |  | comprehensive income |  |  | Comprehensive income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Abu Dhabi Fertilizer Industries WWL |  |  | 23,496 |  |  |  | 11,444 |  |  |  | 5,695 |  |  |  | - |  |  |  | 33,098 |  |  |  | 1,611 |  |  |  | (1 | ) |  |  | 1,610 |
Doktor Tarsa Tarim Sanayi AS |  |  | 66,498 |  |  |  | 12,242 |  |  |  | 27,067 |  |  |  | 8,509 |  |  |  | 74,144 |  |  |  | 481 |  |  |  | 978 |  |  |  | 1,459 |
Ajay North America |  |  | 21,644 |  |  |  | 12,409 |  |  |  | 3,542 |  |  |  | - |  |  |  | 40,290 |  |  |  | 7,608 |  |  |  | - |  |  |  | 7,608 |
Ajay Europe SARL |  |  | 21,219 |  |  |  | 1,214 |  |  |  | 6,743 |  |  |  | - |  |  |  | 36,337 |  |  |  | 2,747 |  |  |  | (878 | ) |  |  | 1,869 |
SQM Eastmed Turkey |  |  | 1,724 |  |  |  | 2,160 |  |  |  | 1,829 |  |  |  | 1,434 |  |  |  | 3,192 |  |  |  | 740 |  |  |  | (42 | ) |  |  | 698 |
Kore Potash PLC |  |  | 6,659 |  |  |  | 148,426 |  |  |  | 2,180 |  |  |  | - |  |  |  | - |  |  |  | (8,198 | ) |  |  | (6,882 | ) |  |  | (15,080 | )
Total |  |  | 141,240 |  |  |  | 187,895 |  |  |  | 47,056 |  |  |  | 9,943 |  |  |  | 187,061 |  |  |  | 4,989 |  |  |  | (6,825 | ) |  |  | (1,836 | )
8.3 | Other information
The Company has no participation in unrecognized losses in investments in associates. The Company has no investments that are not accounted for according to the equity method. The basis of preparation of the financial information of associates corresponds to the amounts included in the financial statements in conformity with IFRS.
| 8.4 | Disclosures on interest in associates
| (a) | Transactions conducted in 2020 :
| · | During the second quarter Kore Potash PLC made a share payment to its non-executive board members, which resulted in a 0.60% share reduction for the company. This resulted in a transfer in equity of non-controlling interest to other reserves in an amount of ThUS$ 754.
| · | During the third quarter of 2020 SQM S.A. increased its shares in Kore Potash PLC to 20.26% as a result of the acquisition of 260,598,591 shares out of 584,753,846 shares issued for a capital increase corresponding to ThUS$ 1,679.
| · | During the third quarter of 2020, its interest in Doktor Tarsa Tarim and its subsidiaries were sold through Soquimich European Holdings B.V. at a value of ThUS$ 33,066, which brought about a loss of ThUS$ 11,408. As of the end of the fourth quarter of 2020, there was a balance of ThUS$ 4,745 in other current receivables and ThUS$ 9,491 in non-current receivables.
| · | During the fourth quarter of 2020, SQM Holland B.V., acquired a WSNPK business from Plantacote N.V. at a value of ThUS$ 16,757, which generated goodwill of ThUS$7,380.
| · | During the third quarter of 2020, shares held in SQM Eastmed Turkey were sold through Soquimich European Holdings B.V. at a value of ThUS$ 618, which brought about a loss of ThUS$ 408.
| · | During the fourth quarter of 2020, Kore Potash PLC made a share-based payment to its non-executive board members, which resulted in a 0.06% share reduction for the company, finalizing with a share percentage of 20.20%. This resulted in a decrease in consolidated equity of non-controlling interests in other reserves of ThUS$ 79.
| (b) | Transactions conducted in 2019 :
| · | SQM S.A. increased the capital of Kore Potash Ltd by ThUS$ 2,600 in July 2019, which increased its interest to 19.67% of the shareholder’s investment.
| · | On December 11, 2019, Doktor Tarsa Tarim Sanayi AS acquired 100% of the shares in Doctochem Tarim Sanayi Ticaret LTD.
| (c) | Transactions conducted in 2018 :
| · | During the first quarter, the Company increased its capital in Kore Potash PLC by ThUS$ 3,000.
| · | On November 14, 2018, Soquimich European Holdings B.V. sold its share in Charlee SQM Thailand Co. Ltd., generating a loss of ThUS$ 759.
| · | In 2018, Doktor Tarsa Tarim Sanayi Ve Ticaret A.S., changed its functional currency from Turkish Lira to the United States Dollar.

X
- Definition The disclosure of investments accounted for using the equity method. [Refer: Investments accounted for using equity method] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | sqm_DisclosureOfEquityaccountedInvesteesAbstract
Namespace Prefix: | sqm_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration