TOTAL CONTRIBUTIONS COMMITED TO THE COMMUNITY UNDER CORFO-SQM LEASE AGREEMENTThe Corfo-SQM 2019 agreement sets forth certain commitments including a contribution of US$13,171,294, equal to 1.7% of our sales during the period. SQM must contribute 1.7% of its sales annually until 2030 when the CORFO agreement in the Salar de Atacama expires. This US$13,171,294 contribution is divided into:
- 1% Antofagasta Regional Government for public investment
- 3% Antofagasta Regional Government for product development
- 2% Municipality of San Pedro de Atacama
- 1% Municipality of María Elena
- 1% Municipality of Antofagasta
The total value of SQM’s investment in the communities is US$4.9 million, which does not include contributions provided under the CORFO agreement. Additionally, a total of US$ 1.7 million was spent in 2019 on administrative expenses for community work.