SQM Makes New Claim in CORFO Arbitration

Sociedad Química y Minera de Chile S.A.(NYSE:SQM) has initiated a new claim as part of its arbitration process with SQM.
As quoted in the press release:

SQM will make a claim surrounding the Company’s global sales of lithium since 1997, and the rental payments associated with these sales.
SQM requests that, with all the facts -and not only from the arbitrarily selected period as CORFO has sought in its previous claims- the arbitrator determine whether or not the payments have been paid correctly, and whether or not there have been tax losses according to how the contract was executed by the parties at beginning and were paid throughout the life of the contract.
SQM believes that it has calculated and made the appropriate rental payments since it began selling lithium in 1997, and maintains its position that it has not committed any errors.

Click here for the full press release.