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Other current and non-current non-financial assets | 12 Months Ended
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Dec. 31, 2024
Other Current And Non-Current Non-Financial Assets |
Other current and non-current non-financial assets | Other current and non-current non-financial assets As of December 31, 2024, and 2023, the detail of “Other Current and Non-current Assets” is as follows:
Other non-financial assets, current |  | As of December 31, 2024 |  | As of December 31, 2023
|  | ThUS$ |  | ThUS$
Domestic Value Added Tax |  | 125,963 |  |  | 63,973 |
Foreign Value Added Tax |  | 26,315 |  |  | 24,889 |
Prepaid mining licenses |  | 3,326 |  |  | 1,299 |
Prepaid insurance |  | 12,589 |  |  | 15,022 |
Other prepayments |  | 1,391 |  |  | 3,204 |
Refund of Value Added Tax to exporters |  | 24,601 |  |  | 19,929 |
Other taxes |  | 4,189 |  |  | 6,142 |
Other assets |  | 2,331 |  |  | 2,292 |
Total |  | 200,705 |  |  | 136,750 |
Other non-financial assets, non-current |  | As of December 31, 2024 |  | As of December 31, 2023
|  | ThUS$ |  | ThUS$
Exploration and evaluation expenses |  | 65,510 |  |  | 57,458 |
Guarantee deposits |  | 942 |  |  | 950 |
Foreign VAT (1) |  | 289,921 |  | 308,084
Other non-current assets |  | 7,793 |  |  | 7,208 |
Total |  | 364,166 |  |  | 373,700 |
________________________________________________ (1) Value-added taxes to be recovered from the commercial office of SQM Shanghai Chemicals Co. Ltd., where that recovery is expected to take longer than 12 months. Movements in assets for the exploration and evaluation of mineral resources as of December 31, 2024, and 2023:
Reconciliation |  | As of December 31, 2024 |  | As of December 31, 2023 |  | As of December 31, 2022
|  | ThUS$ |  | ThUS$ |  | ThUS$
Opening balance |  | 57,458 |  |  | 44,023 |  |  | 26,752 |
Changes |  |  |  |  |  |
Additions |  | 10,701 |  |  | 12,002 |  |  | 11,341 |
Reclassifications from/to short-term (inventory) |  | (197) |  |  | 1,049 |  |  | (465) |
Amortization of ground studies |  | (733) |  |  | (2,131) |  |  | (2,421) |
Reclassification from construction in progress |  | (1,719) |  |  | 2,515 |  |  | 8,816 |
Total changes |  | 8,052 |  |  | 13,435 |  |  | 17,271 |
Ending balance (*) |  | 65,510 |  |  | 57,458 |  |  | 44,023 |
As of December 31, 2024 and 2023, no reevaluations of assets for exploration and assessment of mineral resources have been conducted. (*) This corresponds to the sum of expenditures for economically feasible exploration and exploration under operation (long-term). Mineral resource exploration, evaluation and Exploitation expenditure Given the nature of operations of the Company and the type of exploration it undertakes, disbursements for exploration can be found in 4 stages: Execution, economically feasible, not economically feasible and in exploitation: (a)Not economically feasible: Exploration and evaluation disbursements, once finalized and concluded to be not economically feasible, will be charged to income. As of December 31, 2024, and 2023 there were no disbursements for this concept. (b)Execution: Disbursements for exploration and evaluation under implementation and therefore prior to determination of economic feasibility, are presented as part of property, plant and equipment as constructions in progress. As of December 31, 2024 and 2023, this amounts to ThUS$14,787 and ThUS$9,062. (c) Economically feasible: Reimbursements for exploration and evaluation whose study concluded that its economic viability is viable are classified in “Other non-financial assets, non-current.”
Prospecting |  | Type of Exploration |  | As of December 31, 2024 |  | As of December 31, 2023
|  |  |  | ThUS$ |  | ThUS$
Chile (1) |  | Metallic/Non-Metallic |  | 59,826 |  |  | 50,844 |
Total |  |  |  | 59,826 |  |  | 50,844 |
________________________________________________ (1)The value presented for Chile is composed as of December 2024 of ThUS 12,084 corresponding to non-metallic exploration and evaluation and ThUS$ 47,742 associated with metallic exploration. In December 2023, the amounts of non-metallic and metallic exploration were ThUS$ 13,803 and ThUS$ 37,041, respectively.
Prospecting conciliation |  | As of December 31, 2024 |  | As of December 31, 2023
|  | ThUS$ |  | ThUS$
Opening balance |  | 50,844 |  |  | 36,327 |
Additions |  | 10,701 |  |  | 12,002 |
Reclassifications from Exploration in execution – Chile |  | (1,719) |  |  | 2,515 |
Reclassifications to Exploration in Exploitation-Chile |  | — |  |  | — |
Total changes |  | 8,982 |  |  | 14,517 |
Total |  | 59,826 |  |  | 50,844 |
(d) In Exploitation: Caliche exploration disbursements that are found in this area are amortized based on the material exploited, the portion that is expected to be exploited in the following 12 months is presented as “Current Assets” in the “Inventories in process” and the remaining portion is classified as “Other Non-current Non-Financial Assets”.
Short-Term Exploitation Conciliation |  | As of December 31, 2024 |  | As of December 31, 2023
|  | ThUS$ |  | ThUS$
Opening balance |  | 651 |  |  | 1,700 |
Amortization of ground studies |  | — |  |  | — |
Reclasifications from/to short term (inventories) |  | 197 |  |  | (1,049) |
Total changes |  | 197 |  |  | (1,049) |
Total |  | 848 |  |  | 651 |
Long-Term Exploitation Conciliation |  | As of December 31, 2024 |  | As of December 31, 2023
|  | ThUS$ |  | ThUS$
Opening balance |  | 6,614 |  |  | 7,696 |
Amortization of ground studies |  | (733) |  |  | (2,131) |
Reclasifications from/to short term (inventories) |  | (197) |  |  | 1,049 |
Total changes |  | (930) |  |  | (1,082) |
Total |  | 5,684 |  |  | 6,614 |

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