PotashCorp increases to 27% its stake in SQM

Chile's SQM, which produces potassium nitrate and sulphate (NOP and SOP) and the world's leading producer of iodine and lithium, saw its stock rise sharply on Wednesday, 18 Oct, after local press reports said Canada's PotashCorp had increased its ownership in the company. SQM "B" series shares rose 2.24% to 6,850 pesos. In response to rumours that it was looking to buy SQM, PotashCorp confirmed that it had increased its stake by 2% to 27% but said this was purely an opportunistic investment and certainly not a bid for control.

Published 20th October 2006

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