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Joint Ventures (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of joint ventures [abstract] |
Schedule of investment in joint ventures accounted for under the equity method of accounting |
|  | Equity-accounted investees |  | Share in income (loss) of joint ventures accounted for using the equity method |
Joint Venture |  | As of December 31, 2024 |  | As of December 31, 2023 |  |  | For the year ended December 31, 2024 |  | For the year ended December 31, 2023 |  | For the year ended December 31, 2022 |
|  | ThUS$ |  | ThUS$ |  |  | ThUS$ |  | ThUS$ |  | ThUS$ |
SQM Vitas Fzco. |  | 8,422 |  |  | 19,490 |  |  |  | 2,491 |  |  | (6,564) |  |  | 8,208 |  |
Pavoni & C. Spa |  | 7,508 |  |  | 7,870 |  |  |  | 189 |  |  | 396 |  |  | 470 |  |
Covalent Lithium Pty Ltd. (1) |  | — |  |  | — |  |  |  | (758) |  |  | 107 |  |  | — |  |
Pirra Lithium Pty Ltd. |  | 3,535 |  |  | 3,544 |  |  |  | — |  |  | — |  |  | — |  |
Azure Minerals |  | 542,456 |  |  | — |  |  |  | — |  |  | — |  |  | — |  |
Total |  | 561,921 |  |  | 30,904 |  |  |  | 1,922 |  |  | (6,061) |  |  | 8,678 |  |
(1) Investments accounted for using the equity method with a negative value are included within “Other non-current provisions” in the amount of ThUS$1,259 and ThUS$ 766 as of December 31, 2024 and 2023 respectively. The effects resulting from the share in the profit (loss) of this joint venture for the years ended December 31, 2024 and 2023 for an amount to ThUS$ (758) and ThUS$ 107, and are included within “other (losses) gains”.
|  | 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, 2024 |  | For the year ended December 31, 2023 |  | For the year ended December 31, 2022 |  | For the year ended December 31, 2024 |  | For the year ended December 31, 2023 |  | For the year ended December 31, 2022
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM Vitas Fzco. |  | (577) |  |  | 2,450 |  |  | 674 |  |  | 1,914 |  |  | (4,114) |  |  | 8,882 |
Pavoni & C. Spa |  | (276) |  |  | 139 |  |  | (210) |  |  | (87) |  |  | 535 |  |  | 260 |
Covalent Lithium Pty Ltd. (*) |  | 265 |  |  | 1,583 |  |  | 90 |  |  | (493) |  |  | 1,690 |  |  | 90 |
Total |  | (588) |  |  | 4,172 |  |  | 554 |  |  | 1,334 |  |  | (1,889) |  |  | 9,232 |
Schedule of dividends received from joint ventures |
|  |  |  |  |  |  |  |  |  | Dividends received for the year ending
Joint venture |  | Description of the nature of the relationship |  | Domicile |  | Country of incorporation |  | Share of ownership in associates |  | As of December 31, 2024 |  | As of December 31, 2023 |  | As of December 31, 2022
|  |  |  |  |  |  |  |  |  | ThUS$ |  | ThUS$ |  | ThUS$
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 | % |  | 12,500 |  |  | — |  |  | — |
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 | % |  | 218 |  |  | — |  |  | — |
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 | % |  | — |  |  | — |  |  | — |
SQM Vitas Brasil Agroindustria (*) |  | 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 |  | — | % |  | — |  |  | — |  |  | — |
SQM Vitas Perú S.A.C. (**) |  | 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 |  | — | % |  | — |  |  | — |  |  | — |
Pirra Lithium Pty Ltd. |  | Exploration and development of lithium assets.. |  | Suite 12, 11 Ventnor Avenue, West Perth, WA 6605. |  | Australia |  | 40.0 | % |  | — |  |  | — |  |  | — |
Azure Minerals (***) |  | In charge of the development of the world-class Andover lithium deposits. |  | 51 Point Samson-Roebourne Rd, Roebourne WA 6718 |  | Australia |  | 50.0 | % |  | — |  |  | — |  |  | — |
Total |  |  |  |  |  |  |  |  |  | 12,718 |  |  | — |  |  | — |
(*) As of December 31, 2023, the investment in SQM Vitas Brasil Agroindustria was sold. (**) As of March 27, 2024, all SQM Vitas Perú S.A.C. shares had been acquired by the Company. As of December 31, 2023, Vitas Fzco's ownership interest in SQM Vitas Peru was 99.99999%. (***) SH Mining Pty Ltd. holds 30.57% interest in Azure Minerals.
Schedule of assets, liabilities, revenue and expenses from joint ventures | The information disclosed reflects the amounts presented in the financial statements of the relevant joint ventures and not the Company's share of those amounts.
|  | As of December 31, 2024 |  | For the year ended December 31, 2024
|  | Assets |  | Liabilities |  | Revenue |  | Net income (loss) |  | Other comprehensive income |  | Comprehensive income
Joint Venture |  | Current |  | Non-current |  | Current |  | Non-current |  |  |  |
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM Vitas Fzco. (*) |  | 16,882 |  |  | — |  |  | 38 |  |  | — |  |  | — |  |  | (5,970) |  |  | — |  |  | (5,970) |
SQM Vitas Perú S.A.C. (*) |  | 39,072 |  |  | 8,578 |  |  | 33,547 |  |  | 196 |  |  | 17,672 |  |  | 1,731 |  |  | — |  |  | 1,731 |
Pavoni & C. Spa (*) |  | 11,416 |  |  | 5,919 |  |  | 7,855 |  |  | 877 |  |  | 23,878 |  |  | 379 |  |  | (229) |  |  | 150 |
Covalent Lithium Pty Ltd. |  | 10,576 |  |  | 915 |  |  | 11,868 |  |  | 2,141 |  |  | — |  |  | (1,516) |  |  | — |  |  | (1,516) |
Pirra Lithium Pty Ltd. |  | 2,720 |  |  | 2,006 |  |  | 10 |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Azure Mineral |  | 32,907 |  |  | 9,071 |  |  | 3,561 |  |  | 24,254 |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 113,573 |  |  | 26,489 |  |  | 56,879 |  |  | 27,468 |  |  | 41,550 |  |  | (5,373) |  |  | (229) |  |  | (5,602) |
|  | As of December 31, 2023 |  | For the year ended December 31, 2023
|  | Assets |  | Liabilities |  |  |  | Net income (loss) |  | Other comprehensive income |  | Comprehensive income
Joint Venture |  | Current |  | Non-current |  | Current |  | Non-current |  | Revenue |  |  |
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM Vitas Fzco. (*) |  | 34,056 |  |  | — |  |  | 52 |  |  | — |  |  | — |  |  | 359 |  |  | — |  |  | 359 |
SQM Vitas Brasil Agroindustria (*) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SQM Vitas Perú S.A.C. (*) |  | 40,327 |  |  | 8,954 |  |  | 36,898 |  |  | 220 |  |  | 53,477 |  |  | (4,603) |  |  | — |  |  | (4,603) |
Pavoni & C. Spa (*) |  | 11,879 |  |  | 6,407 |  |  | 8,146 |  |  | 814 |  |  | 21,439 |  |  | 792 |  |  | 115 |  |  | 907 |
Covalent Lithium Pty Ltd. |  | 6,980 |  |  | 2,602 |  |  | 7,106 |  |  | 4,009 |  |  | — |  |  | 215 |  |  | — |  |  | 215 |
Pirra Lithium Pty Ltd. |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 93,242 |  |  | 17,963 |  |  | 52,202 |  |  | 5,043 |  |  | 74,916 |  |  | (3,237) |  |  | 115 |  |  | (3,122) |
|  |  | For the year ended December 31, 2022
|  |  | Revenue |  | Net income (loss) |  | Other comprehensive income |  | Comprehensive income
Joint Venture |  |  |  |  |
|  |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM Vitas Fzco. (*) |  |  | — |  |  | 165 |  |  | — |  |  | 165 |
SQM Vitas Brasil Agroindustria (*) |  |  | 162,026 |  |  | 11,670 |  |  | 602 |  |  | 12,272 |
SQM Vitas Perú S.A.C. (*) |  |  | 61,387 |  |  | 4,586 |  |  | — |  |  | 4,586 |
Pavoni & C. Spa (*) |  |  | 18,066 |  |  | 939 |  |  | (344) |  |  | 595 |
Covalent Lithium Pty Ltd. |  |  | — |  |  | (2,648) |  |  | — |  |  | (2,648) |
Total |  |  | 241,479 |  |  | 14,712 |  |  | 258 |  |  | 14,970 |
(*) The financial figures exclude consolidation adjustments (unrealized gains and losses)
Schedule of other joint venture information |
|  | Cash and cash equivalents |  | Other current financial liabilities |  | Other non-current financial liabilities
Joint Venture |  | As of December 31, 2024 |  | As of December 31, 2023 |  | As of December 31, 2024 |  | As of December 31, 2023 |  | As of December 31, 2024 |  | As of December 31, 2023
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM Vitas Fzco. |  | 10,807 |  |  | 28,012 |  |  | — |  |  | — |  |  | — |  |  | — |
SQM Vitas Brasil Agroindustria |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SQM Vitas Perú S.A.C. |  | 1,092 |  |  | 2,318 |  |  | — |  |  | — |  |  | — |  |  | — |
Pavoni & C. Spa |  | 493 |  |  | 838 |  |  | 2,809 |  |  | 2,043 |  |  | — |  |  | — |
Covalent Lithium Pty Ltd. |  | 1,403 |  |  | 1,865 |  |  | — |  |  | — |  |  | — |  |  | — |
Pirra Lithium Pty Ltd. |  | 2,718 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Azure Minerals |  | 26,678 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 43,191 |  |  | 33,033 |  |  | 2,809 |  |  | 2,043 |  |  | — |  |  | — |
|  | Depreciation and amortization expense for the year ending |  | Interest expense for the year ending |  | Income tax benefit (expense) for the year ending
Joint Venture |  | As of December 31, 2024 |  | As of December 31, 2023 |  | As of December 31, 2024 |  | As of December 31, 2023 |  | As of December 31, 2024 |  | As of December 31, 2023
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM Vitas Fzco. |  | — |  |  | — |  |  | (1) |  |  | (1) |  |  | — |  |  | — |
SQM Vitas Brasil Agroindustria |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SQM Vitas Perú S.A.C. |  | (109) |  |  | (513) |  |  | (70) |  |  | (220) |  |  | (342) |  |  | 2,013 |
Pavoni & C. Spa |  | (99) |  |  | (213) |  |  | (375) |  |  | (418) |  |  | (184) |  |  | (392) |
Covalent Lithium Pty Ltd. |  | (252) |  |  | (691) |  |  | (20) |  |  | (16) |  |  | (1,364) |  |  | (107) |
Pirra Lithium Pty Ltd. |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Azure Minerals |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | (460) |  |  | (1,417) |  |  | (466) |  |  | (655) |  |  | (1,890) |  |  | 1,514 |

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