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Joint Ventures | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Joint Ventures Explanatory [Abstract] |
Disclosure of joint ventures [text block] |
Note 8 | Joint Ventures
| 8.1 | Investment in joint ventures accounted for under the equity method of accounting.
|  | Equity-accounted investees |  |  | Share in profit (loss) of joint ventures accounted for using the equity method |
Joint Venture |  | As of December 31, 2021 |  |  | As of December 31, 2020 |  |  | As of December 31, 2019 |  |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Coromandel SQM India (*) |  |  | - |  |  |  | - |  |  |  | 1,568 |  |  |  | - |  |  |  | - |  |  |  | (98 | )
SQM Vitas Fzco. |  |  | 8,682 |  |  |  | 9,720 |  |  |  | 9,111 |  |  |  | 6,304 |  |  |  | 2,010 |  |  |  | 1,797 |
SQM Qingdao Star Corp Nutrition Co. Ltd. (*) |  |  | - |  |  |  | - |  |  |  | 3,464 |  |  |  | - |  |  |  | 83 |  |  |  | 296 |
SQM Vitas B.V. |  |  | - |  |  |  | - |  |  |  | 1,304 |  |  |  | - |  |  |  | - |  |  |  | (15 | )
Pavoni & C. Spa |  |  | 7,030 |  |  |  | 7,222 |  |  |  | 6,864 |  |  |  | 174 |  |  |  | 9 |  |  |  | 36 |
Covalent Lithium Pty Ltd. (**) |  |  | - |  |  |  | - |  |  |  | 40 |  |  |  | - |  |  |  | - |  |  |  | - |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | - |  |  |  | 9,028 |  |  |  | 1,992 |  |  |  | - |  |  |  | (280 | ) |  |  | (632 | )
Total |  |  | 15,712 |  |  |  | 25,970 |  |  |  | 24,343 |  |  |  | 6,478 |  |  |  | 1,822 |  |  |  | 1,384 |
|  | Share on other comprehensive income joint ventures accounted for using the equity method |  |  | Share on total comprehensive income of joint ventures accounted for using the equity method |
Joint Venture |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2019 |  |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Coromandel SQM India (*) |  |  | - |  |  |  | - |  |  |  | (38 | ) |  |  | - |  |  |  | - |  |  |  | (136 | )
SQM Vitas Fzco. |  |  | 429 |  |  |  | (1,469 | ) |  |  | 437 |  |  |  | 6,733 |  |  |  | 541 |  |  |  | 2,234 |
SQM Qingdao Star Corp Nutrition Co. Ltd. (*) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 83 |  |  |  | 296 |
SQM Vitas B.V. |  |  | - |  |  |  | - |  |  |  | (27 | ) |  |  | - |  |  |  | - |  |  |  | (42 | )
Pavoni & C. Spa |  |  | (317 | ) |  |  | 349 |  |  |  | (255 | ) |  |  | (143 | ) |  |  | 358 |  |  |  | (219 | )
Covalent Lithium Pty Ltd. (**) |  |  | 37 |  |  |  | 16 |  |  |  | (13 | ) |  |  | 37 |  |  |  | 16 |  |  |  | (13 | )
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (280 | ) |  |  | (632 | )
Total |  |  | 149 |  |  |  | (1,104 | ) |  |  | 104 |  |  |  | 6,627 |  |  |  | 718 |  |  |  | 1,488 |
(*) These investments were disposed of in 2020 (**) See more details in Note 8.4 (a). The amounts described in the following box represent numbers used in the consolidation of the company:
|  | Equity-accounted investees |  |  | Share in profit (loss) of joint ventures accounted for using the equity method |
Joint Venture |  | As of December 31, 2021 |  |  | As of December 31, 2020 |  |  | As of December 31, 2019 |  |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM Vitas Brasil Agroindustria (1) |  |  | - |  |  |  | 3,511 |  |  |  | 5,347 |  |  |  | 4,582 |  |  |  | 1,018 |  |  |  | 564 |
SQM Vitas Perú S.A.C. (1) |  |  | 4,681 |  |  |  | 1,659 |  |  |  | 1,955 |  |  |  | 1,645 |  |  |  | 660 |  |  |  | 211 |
Arpa Speciali S.R.L. |  |  | - |  |  |  | - |  |  |  | 92 |  |  |  | - |  |  |  | - |  |  |  | 31 |
Total |  |  | 4,681 |  |  |  | 5,170 |  |  |  | 7,394 |  |  |  | 6,227 |  |  |  | 1,678 |  |  |  | 806 |
|  | Share on other comprehensive income of joint ventures accounted for using the equity method |  |  | Share on total comprehensive income of joint ventures accounted for using the equity method |
Joint Venture |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2019 |  |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM Vitas Brasil Agroindustria (1) |  |  | (429 | ) |  |  | (1,469 | ) |  |  | (225 | ) |  |  | 4,153 |  |  |  | (451 | ) |  |  | 339 |
SQM Vitas Perú S.A.C. (1) |  |  | - |  |  |  | - |  |  |  | 661 |  |  |  | 1,645 |  |  |  | 660 |  |  |  | 872 |
Arpa Speciali S.R.L. |  |  | - |  |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | 30 |
Total |  |  | (429 | ) |  |  | (1,469 | ) |  |  | 435 |  |  |  | 5,798 |  |  |  | 209 |  |  |  | 1,241 |
The companies are subsidiaries of: SQM Vitas Fzco.
|  |  |  |  |  |  |  |  |  |  | Dividends received for the year ending |
Joint venture |  | Description of the nature of the relationship |  | Domicile |  | Country of incorporation |  | Share of interest in ownership (*) |  |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  |  |  |  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  | Production and distribution of soluble fertilizers. |  | Huangjing Road, Dawan Town, Qingbaijiang Dristrict, 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, 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 | % |  |  | - |  |  |  | 2,223 |  |  |  | - |
Pavoni & C. Spa |  | Production of specialty fertilizers and others 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 |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | 2,223 |  |  |  | 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 for the year ending |
Joint venture |  | Description of the nature of the relationship |  | Domicile |  | Country of incorporation |  | Share of interest in ownership (*) |  |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  |  |  |  |  |  |  |  |  |  | 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 |  | Peru |  |  | 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.
| F-61 |
Notes to the Consolidated Financial Statements December 31, 2021 |  |
| 8.2 | Assets, liabilities, revenue and expenses from joint ventures
|  | As of December 31, 2021 |  |  | For the year ended December 31, 2021 |
|  | Assets |  |  | Liabilities |  |  |  |  |  |  |  |  | Other |  |  |  |
Joint Venture |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | Net gain (loss) |  |  | comprehensive income |  |  | Comprehensive income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM Vitas Fzco. |  |  | 9,606 |  |  |  | 20,206 |  |  |  | 215 |  |  |  | - |  |  |  | - |  |  |  | 12,608 |  |  |  | - |  |  |  | 12,608 |
SQM Vitas Brasil Agroindustria |  |  | 73,500 |  |  |  | 4,846 |  |  |  | 68,794 |  |  |  | - |  |  |  | 103,335 |  |  |  | 9,165 |  |  |  | (858 | ) |  |  | 8,307 |
SQM Vitas Perú S.A.C. |  |  | 28,610 |  |  |  | 7,347 |  |  |  | 24,473 |  |  |  | 828 |  |  |  | 48,128 |  |  |  | 3,289 |  |  |  | - |  |  |  | 3,289 |
Pavoni & C. Spa |  |  | 12,885 |  |  |  | 6,714 |  |  |  | 11,226 |  |  |  | 725 |  |  |  | 19,599 |  |  |  | 347 |  |  |  | (634 | ) |  |  | (287 | )
Covalent Lithium Pty Ltd. |  |  | 3,904 |  |  |  | 2,636 |  |  |  | 7,498 |  |  |  | 1,489 |  |  |  | - |  |  |  | (864 | ) |  |  | 74 |  |  |  | (790 | )
Total |  |  | 128,505 |  |  |  | 41,749 |  |  |  | 112,206 |  |  |  | 3,042 |  |  |  | 171,062 |  |  |  | 24,545 |  |  |  | (1,418 | ) |  |  | 23,127 |
|  | As of December 31, 2020 |  |  | For the year ended December 31, 2020 |
|  | Assets |  |  | Liabilities |  |  |  |  |  |  |  |  | Other |  |  |  |
Joint Venture |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | Net gain (loss) |  |  | comprehensive income |  |  | Comprehensive income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | 29,507 |  |  |  | 4,412 |  |  |  | 14,156 |  |  |  | - |  |  |  | 9 |  |  |  | (562 | ) |  |  | - |  |  |  | (562 | )
SQM Vitas Fzco. |  |  | (496 | ) |  |  | 20,431 |  |  |  | 496 |  |  |  | - |  |  |  | - |  |  |  | 4,019 |  |  |  | - |  |  |  | 4,019 |
SQM Vitas Brasil Agroindustria |  |  | 40,064 |  |  |  | 5,527 |  |  |  | 33,410 |  |  |  | - |  |  |  | 78,960 |  |  |  | 2,036 |  |  |  | (2,938 | ) |  |  | (902 | )
SQM Vitas Perú S.A.C. |  |  | 34,548 |  |  |  | 7,928 |  |  |  | 33,145 |  |  |  | 1,080 |  |  |  | 37,591 |  |  |  | 1,319 |  |  |  | - |  |  |  | 1,319 |
Pavoni & C. Spa |  |  | 10,645 |  |  |  | 7,493 |  |  |  | 9,270 |  |  |  | 836 |  |  |  | 15,958 |  |  |  | 16 |  |  |  | 698 |  |  |  | 714 |
Covalent Lithium Pty Ltd. |  |  | 1,418 |  |  |  | 2,131 |  |  |  | 2,823 |  |  |  | 910 |  |  |  | - |  |  |  | (232 | ) |  |  | 33 |  |  |  | (199 | )
Total |  |  | 115,686 |  |  |  | 47,922 |  |  |  | 93,300 |  |  |  | 2,826 |  |  |  | 132,518 |  |  |  | 6,596 |  |  |  | (2,207 | ) |  |  | 4,389 |
| F-62 |
Notes to the Consolidated Financial Statements December 31, 2021 |  |
|  | As of December 31, 2019 |  |  | For the year ended December 31, 2019 |
|  | Assets |  |  | Liabilities |  |  |  |  |  |  |  |  | Other |  |  |  |
Joint Venture |  | Current |  |  | Non-current |  |  | Current |  |  | Non-current |  |  | Revenue |  |  | Net gain (loss) |  |  | comprehensive income |  |  | Comprehensive 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 |  |  |  | 1 |  |  |  | 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 B.V. |  |  | 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 |  |  |  | 29,498 |  |  |  | 92,712 |  |  |  | 7,162 |  |  |  | 151,030 |  |  |  | 4,318 |  |  |  | (670 | ) |  |  | 3,648 |
8.3 | Other Joint Venture disclosures
|  | Cash and cash equivalents |  |  | Other current financial liabilities |  |  | Other non-current financial liabilities |
Joint Venture |  | As of December 31, 2021 |  |  | As of December 31, 2020 |  |  | As of December 31, 2021 |  |  | As of December 31, 2020 |  |  | As of December 31, 2021 |  |  | As of December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | - |  |  |  | 30 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Fzco. |  |  | 4,115 |  |  |  | 4,251 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SQM Vitas Brasil Agroindustria |  |  | 4,132 |  |  |  | 4,065 |  |  |  | 10,416 |  |  |  | 6,820 |  |  |  | - |  |  |  | - |
SQM Vitas Perú S.A.C. |  |  | 380 |  |  |  | 1,043 |  |  |  | 238 |  |  |  | 227 |  |  |  | 289 |  |  |  | 691 |
Pavoni & C. Spa |  |  | 787 |  |  |  | 767 |  |  |  | 7,561 |  |  |  | 5,573 |  |  |  | - |  |  |  | - |
Covalent Lithium Pty Ltd. |  |  | 3,858 |  |  |  | 653 |  |  |  | 980 |  |  |  | 953 |  |  |  | - |  |  |  | - |
Total |  |  | 13,272 |  |  |  | 10,809 |  |  |  | 19,195 |  |  |  | 13,573 |  |  |  | 289 |  |  |  | 691 |
|  | Depreciation and amortization expense |  |  | Interest expense |  |  | Income tax benefit (expense) |
Joint Venture |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |  |  | For the year ended December 31, 2021 |  |  | For the year ended December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Sichuan SQM Migao Chemical Fertilizers Co Ltd. |  |  | - |  |  |  | (394 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 244 |
SQM Vitas Fzco. |  |  | - |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | - |  |  |  | - |
SQM Vitas Brasil Agroindustria |  |  | (278 | ) |  |  | (355 | ) |  |  | (367 | ) |  |  | (656 | ) |  |  | (1,985 | ) |  |  | (34 | )
SQM Vitas Perú S.A.C. |  |  | (354 | ) |  |  | (257 | ) |  |  | (311 | ) |  |  | (326 | ) |  |  | (1,692 | ) |  |  | (197 | )
Pavoni & C. Spa |  |  | (245 | ) |  |  | (263 | ) |  |  | (459 | ) |  |  | (410 | ) |  |  | (173 | ) |  |  | (120 | )
Covalent Lithium Pty Ltd. |  |  | (167 | ) |  |  | (213 | ) |  |  | (55 | ) |  |  | (18 | ) |  |  | 343 |  |  |  | 714 |
Total |  |  | (1,044 | ) |  |  | (1,483 | ) |  |  | (1,193 | ) |  |  | (1,412 | ) |  |  | (3,507 | ) |  |  | 607 |
| 8.4 | Disclosure of interests in joint ventures
| a) | Transactions for the year ended December 31, 2021
| · | On February 9, 2021, two of the Company’s subsidiaries signed an agreement to terminate a dispute related to sales contracts and interest in the joint venture of Sichuan SQM Migao Chemical Fertilizers Co Ltd. Consequently, the Company received US$ 11.5 million.
| b) | Transactions for the year ended December 31, 2020
| · | SQM Vitas BV became a wholly owned subsidiary of the Company during the second quarter of 2020, through its subsidiary Soquimich European Holdings, at a cost of ThUS$ 1,276 and its name has been changed to SQM Holland. See Note 7.1.
| · | In the second quarter of 2020, shares held in Arpa Speciali S.R.L. were sold through SQM Pavoni & C., SpA. At a value of ThUS$ 56, which brought about a loss of ThUS$ 125. An initial installment of ThUS$ 17 was charged, leaving two pending installments of ThUS$ 20 maturing June 30, 2021 and June 30, 2022. The pending installments are classified as other accounts receivable.
| · | In the third quarter of 2020, shares held in Coromandel SQM India were sold through Soquimich European Holdings B.V. at a value of ThUS$ 1,604, which brought about a loss of ThUS$ 643.
| · | During fourth quarter of 2020, the shares in SQM Qingdao-Star Co, Ltd. were sold through SQM Industrial S.A. for ThUS$ 1,303, which brought about a gain of ThUS$ 62. As of December 31, 2020, the sale proceeds were recorded in other receivables.
| · | A subsequent event associated with the joint venture with Sichuan SQM Migao Chemical Fertilizers Co Ltd.. Accordingly, the effect on the statement of income for the fourth quarter of 2020 under "Other gains (losses)" is a gain of ThUS$ 7,036 on the reversal of the impairment associated with this investment.
| c) | Transactions for the year ended December 31, 2019
| · | On January 01, 2019, SQM Vitas Perú changed its functional currency from the Peruvian sol to Dollar.
| 8.5 | Joint Ventures
In 2017, together with our subsidiary SQM Australia Pty, we entered into an agreement to acquire 50% of the assets of the Mt . Holland lithium project in Western Australia. The Mt . Holland Lithium Project consist, to design, construct and operate a mine, concentrator and refinery to produce approximately 50,000 metric tons of lithium hydroxide per year. As of December 31, 2020, the Company had made contributions in the amount of US$ 30 million, of which, US$ 15 million was paid in favor of the partner in the project and presented as other receivables. As of March 2021, this receivable was collected when it was contributed to Mt . Holland in the Company’s name. The Company approved the investment decision referred to in Note 1.8.

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