SQM Reports Earnings for the First Quarter of 2011

By Sqm, PRNE
Monday, May 23, 2011

SANTIAGO, Chile, May 25, 2011 -

Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock
Exchange: SQM-B, SQM-A) reported today earnings for the first quarter of 2011
of US$111.4 million (US$0.42 per ADR), an increase of 45.6% with respect to
the same period of 2010, when earnings totaled US$76.5 million (US$0.29 per
ADR). Gross Margin reached US$187.6 million (39.1% of revenues), 42.7% higher
than the US$131.5 million (33.8% of revenues) recorded during the first
quarter of 2010. Revenues totaled US$480.0 million for the first quarter,
representing an increase of 23.6% over the US$388.5 million reported in the
same period of 2010.

SQM's Chief Executive Officer, Patricio Contesse, stated, "Robust demand
in all of our business lines supported the solid earnings performance in the
first quarter of 2011. Strong fertilizer market conditions drove growth in
our SPN business line, and better pricing conditions in potash markets
sustained our fertilizer business lines. Performance in our iodine and
lithium segments was also strong, and current conditions in these markets
should create unique opportunities to capture growth and increase our
presence in the coming months."

Mr. Contesse continued, "We have observed a return to historical growth
rates in our main markets, and we expect this healthy demand trend to
continue in the following quarters of the year. Although market conditions
continue to improve, we will face some pressure in terms of higher energy and
labor costs. We remain optimistic about the remainder of 2011 as underlying
fundamentals in each of our markets remain positive, and SQM continues to
position itself to capitalize current market conditions."

For the complete version of this press release, please visit our Web
site: www.sqm.com.

SQM is an integrated producer and distributor of specialty plant
nutrients, iodine, lithium, potassium-related fertilizers and industrial
chemicals. Its products are based on the development of high quality natural
resources that allow the Company to be leader in costs, supported by a
specialized international network with sales in over 100 countries. SQM's
development strategy aims to maintain and strengthen the Company's position
in each of its businesses.

    For further information, contact:
    Mary Laverty, +56-2-4252074 / mary.laverty@sqm.com
    Isabel Bendeck, +56-2-4252058 / isabel.bendeck@sqm.com
    Mark Fones, +56-2-4252485 / mark.fones@sqm.com

    For media inquiries, contact:
    Fabiola Scianca, +56-2-4252027 / fabiola.scianca@sqm.com

Statements in this press release concerning the Company's business
outlook, future economic performances, anticipated profitability, revenues,
expenses, or other financial items, anticipated cost synergies and product or
service line growth, together with other statements that are not historical
facts, are "forward-looking statements" as that term is defined under Federal
Securities Laws.

Any forward-looking statements are estimates, reflecting the best
judgment of SQM based on currently available information and involve a number
of risks, uncertainties and other factors that could cause actual results to
differ materially from those stated in such statements. Risks, uncertainties,
and factors that could affect the accuracy of such forward-looking
statements, are identified in the public filing made with the Securities and
Exchange Commission, and forward-looking statements should be considered in
light of those factors.


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