SQM Says it Did Not Export Lithium to North Korea

March 11, 2016

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Sociedad Química y Minera de Chile (NYSE:SQM) clarified information with respect to its lithium exports that had been published in the Chilean press. Among other things, the company stated that it maintains clear and complete records of its lithium exports, and that it has not exported lithium products to North Korea.

As quoted in the press release:

It is not true that SQM exported lithium products to North Korea. Two exports to the South Korean port of Busan were erroneously reflected as having been sent to North Korea in the export records (the numerical codes for these two countries are very similar). SQM provided the respective authorities the invoices, shipping information and export instructions that make clear that the effective final destination of these products was South Korea. South Korea is an important market for lithium consumption for batteries, and SQM has a longstanding business relationship with many companies located in that country. SQM and its subsidiaries do not carry out business activities of any kind in North Korea.

Click here for the full press release.

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Category: Energy