Chile’s SQM Rebounds as Chairman Says Sales Expectations High

Soc. Quimica & Minera de Chile SA, the country’s biggest fertilizer maker and world’s top lithium producer, erased a loss to head for its third straight gain.

SQM advanced 0.4 percent to 28,140 pesos at 12:48 p.m. Santiago time after declining as much as 1.2 percent.

Chairman and controlling shareholder Julio Ponce told the company’s annual general meeting in Santiago today that he has high expectations for sales of all products. SQM, which plans to invest more than $500 million this year, doesn’t need to raise more financing in 2012, Chief Executive Officer Patricio Contesse told reporters at the same event in Santiago.

To contact the reporter on this story: Matthew Craze in Santiago at mcraze@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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