UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Sociedad Quimica y Minera de Chile S.A.
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(Name of Issuer)
Series A Shares, without nominal (par) value
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(Title of Class of Securities)
833636103
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(CUSIP Number)
Stephen M. Besen, Esq.
Shearman & Sterling LLP
599 Lexington Avenue
New York, NY 10022
(212) 848-4000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 21, 2004
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
|X|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the Schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13D
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CUSIP No. 833636103 Page 1 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Global Mining Investment (Chile) Ltda.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES None
BENEFICIALLY OWNED
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
7,123,076
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
7,123,076
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,123,076
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99%
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14 TYPE OF REPORTING PERSON
PN
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SCHEDULE 13D
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CUSIP No. 833636103 Page 2 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sociedad de Inversiones Pampa Calichera S.A.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
59,557,332
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
59,557,332
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
59,557,332
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.7%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 3 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sociedad de Inversiones Oro Blanco S.A.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
59,557,332
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
59,557,332
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
59,557,332
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.7%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 4 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norte Grande S.A.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
59,557,332
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
59,557,332
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
59,557,332
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.7%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 5 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Inversiones SQYA S.A.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
65,702,424
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
65,702,424
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,702,424
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 6 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Inversiones SQ Holding S.A.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
65,702,424
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
65,702,424
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
64,702,424
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 7 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.Q.Grand Cayman Corp.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
65,702,424
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
65,702,424
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
64,702,424
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 8 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pacific Atlantic Trading Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
65,702,424
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9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
65,702,424
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
64,702,424
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 9 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Pacific Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED None
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
65,702,424
--------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
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10 SHARED DISPOSITIVE POWER
64,702,424
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
64,702,424
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46%
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14 TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D
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CUSIP No. 833636103 Page 10 of 10
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Julio Ponce Lerou
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
BK, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [__]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Chile
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7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 17,026
BY EACH REPORTING --------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER
65,702,424
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9 SOLE DISPOSITIVE POWER
17,026
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10 SHARED DISPOSITIVE POWER
65,702,424
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,719,450
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [__]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.02%
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14 TYPE OF REPORTING PERSON
IN
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Item 1. Security and Issuer.
This Statement on Schedule 13D (this "Statement") relates to the Series A
common shares, without nominal value ("Series A Shares"), of Sociedad Quimica y
Minera de Chile S.A., a company organized under the laws of Chile ("SQM"). The
principal executive offices of SQM are located at El Trovador 4285, Las Condes,
Santiago, Chile.
Item 2. Identity and Background.
This Statement is being jointly filed by Global Mining Investment (Chile)
Ltda. ("Global Mining"), Sociedad de Inversiones Pampa Calichera S.A. ("Pampa"),
Sociedad de Inversiones Oro Blanco S.A. ("Oro"), Norte Grande S.A. ("Norte"),
Inversiones SQYA S.A. ("SQYA"), Inversiones SQ Holding S.A. ("SQ Holding"), S.Q.
Grand Cayman Corp. ("SQ Grand Cayman"), Pacific Atlantic Trading Corporation
("Pacific Atlantic Trading"), The Pacific Trust ("Pacific Trust") and Mr. Julio
Ponce Lerou ("Mr. Ponce"). A joint filing agreement has been filed as Exhibit 1
to this Statement pursuant to Rule 13d-1(k) promulgated under the Securities
Exchange Act of 1934, as amended (the "Exchange Act").
Each of Global Mining, Pampa, Oro, Norte, SQYA, SQ Holding, SQ Grand
Cayman, Pacific Atlantic Trading, Pacific Trust and Mr. Ponce is individually a
"Reporting Person" and are collectively the "Reporting Persons".
Global Mining
Global Mining is a limited liability partnership (sociedad de
responsabilidad limitada) organized under the laws of the Republic of Chile. The
address of the principal office of Global Mining is Ahumada 131, Of. 801,
Santiago, Republic of Chile. The principal business activity of Global Mining is
to act as a holding company for the investment in SQM. Global Mining is a
wholly-owned subsidiary of Pampa.
Set forth on Schedule A to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name of any corporation or other organization
in which such occupation or employment is conducted, and (d) citizenship of each
executive officer and director of Global Mining.
Pampa
Pampa is a corporation (sociedad anonima) organized under the laws of the
Republic of Chile. The address of the principal office of Pampa is Ahumada 131,
Of. 801, Santiago, Republic of Chile. The principal business activity of Pampa
is to act as a holding company for the investment in SQM. As of the date of this
Statement, Oro was the owner of record of approximately 66.67% of the
outstanding share capital of Pampa.
Set forth on Schedule B to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name
of any corporation or other organization in which such occupation or employment
is conducted, and (d) citizenship of each executive officer and director of
Pampa.
Oro
Oro is a corporation (sociedad anonima) organized under the laws of the
Republic of Chile. The address of the principal office of Oro is Ahumada 131,
Of. 801, Santiago, Republic of Chile. The principal business activity of Oro is
to act as a holding company for the investment in SQM. As the date of this
Statement, Norte is the owner of record of approximately 77.76% of the
outstanding share capital of Oro.
Set forth on Schedule C to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name of any corporation or other organization
in which such occupation or employment is conducted, and (d) citizenship of each
executive officer and director of Oro.
Norte
Norte is a corporation (sociedad anonima) organized under the laws of the
Republic of Chile. The address of the principal office of Norte is Ahumada 131,
Of. 801, Santiago, Republic of Chile. The principal business activity of Norte
is to act as a holding company for the investment in SQM. As the date of this
Statement, SQYA is the owner of record of approximately 89.47% of the
outstanding share capital of Norte.
Set forth on Schedule D to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name of any corporation or other organization
in which such occupation or employment is conducted, and (d) citizenship of each
executive officer and director of Norte.
SQYA
SQYA is a corporation (sociedad anonima) organized under the laws of the
Republic of Chile. The address of the principal office of SQYA is Ahumada 131,
Of. 801, Santiago, Republic of Chile. The principal business activity of SQYA is
to act as a holding company for the investment in SQM. As of the date of this
Statement, SQ Holding is the owner of record of approximately 51% of the
outstanding share capital of SQYA. The remaining 49% equity interest in SQYA is
owned by Yara Nederland B.V. ("Yara"), a corporation organized under the laws of
the Netherlands. As a result of its ownership of 51% of SQYA, SQ Holdings may be
deemed to control SQYA.
Set forth on Schedule E to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name of any corporation or other organization
in which such occupation or employment is conducted, and (d) citizenship of each
executive officer and director of SQYA.
SQ Holding
SQ Holding is a corporation (sociedad anonima) organized under the laws of
the Republic of Chile. The address of the principal office of SQ Holding is
Moneda No. 920, Of. 705, Santiago, Republic of Chile. The principal business
purpose for SQ Holding is to serve as a holding company for the investment in
SQM. As of the date of this Statement, SQ Grand Cayman is the owner of
substantially all of the outstanding share capital of SQ Holding.
Set forth on Schedule F to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name of any corporation or other organization
in which such occupation or employment is conducted, and (d) citizenship of each
executive officer and director of SQ Holding.
SQ Grand Cayman
SQ Grand Cayman is a corporation organized under the laws of the Cayman
Islands. The address of the principal office of SQ Grand Cayman is 1800 Sovran
Center, 1 Commercial Place, Norfolk, VA. The principal business activity of SQ
Grand Cayman is to serve as a holding company for the investment in SQM. As of
the date of this Statement, Pacific Atlantic Trading is the owner of record of
100% of the outstanding share capital of SQ Grand Cayman.
Set forth on Schedule G to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name of any corporation or other organization
in which such occupation or employment is conducted, and (d) citizenship of each
executive officer and director of SQ Grand Cayman.
Pacific Atlantic Trading
Pacific Atlantic Trading is a corporation organized under the laws of the
Cayman Islands. The address of the principal office of Pacific Atlantic Trading
is 1800 Sovran Center, 1 Commercial Place, Norfolk, VA. The principal business
activity of Pacific Atlantic Trading is to act as a holding company for the
investment in SQM. As of the date of this Statement, Pacific Trust is the owner
of record of 100% of the outstanding share capital of Pacific Atlantic.
Set forth on Schedule H to this Statement, and incorporated herein by
reference, is the (a) name, (b) business address, (c) present principal
occupation or employment and the name of any corporation or other organization
in which such occupation or employment is conducted, and (d) citizenship of each
executive officer and director of Pacific Atlantic Trading.
Pacific Trust
Pacific Trust is formed under the laws of the British Virgin Islands. The
address of the principal office of Pacific Trust is care of Alfaro, Ferrer,
Ramirez & Aleman (BVI) at The Lake Building, 1st Floor, Road Town, Tortola,
British Virgin Islands. Pacific Trust has no assets or operations other than
holding the shares of Pacific Atlantic Trading. Alfaro, Ferrer, Ramirez
& Aleman (BVI) is the trustee of Pacific Trust. Mr. Ponce has the power to
direct the administration of Pacific Trust.
Mr. Ponce
Mr. Ponce is a citizen of the Republic of Chile. He resides at Luis Carrera
No. 2700-A, Apartment 101, Vitacura, Santiago, Chile. Mr. Ponce serves as
chairman of the Board of Directors of SQM.
During the last five years, none of the Reporting Persons and, to the best
knowledge of the Reporting Persons, none of the persons listed on Schedules A
through H to this Statement has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or has been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
as a result of which such person was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
Item 3. Source and Amount of Funds or other Consideration.
On December 21, 2004, Pampa acquired 6,000,000 Series A Shares on the open
market in the Chilean Stock Exchange for an aggregate purchase price of
CH$24,006,000,000. Yara loaned Pampa the funds necessary to complete the
acquisition. In order to secure the loan from Yara, Pampa issued notes to Yara
in the amount of US$43,000,000 (the "Notes"). On January 10, 2005, Pampa repaid
Yara the full amount due under the Notes with the proceeds of a loan from Banco
BCI, a Chilean bank ("Banco BCI"). Pampa and Banco BCI are in the process of
negotiating a definitive agreement relating to such loan.
On January 14, 2005, SQYA acquired 6,145,092 Series A Shares on the Chilean
Stock Exchange for an aggregate purchase price of CH$24,592,658,184. Yara and
Banco BCI loaned SQYA the funds necessary to complete the acquisition. In order
to secure the loans from Yara and Banco BCI, SQYA issued notes to Yara and Banco
BCI in the amounts of US$20,000,000 and US$27,000,0000 respectively. The note
issued to Yara will mature 180 days from January 17, 2005 and will accrue
interest at an annual rate of 4.44%. The notes issued to Banco BCI will mature
180 days from January 18, 2005 and will accrue interest at a monthly rate of
0.4392%. SQYA expects to begin the process of renegotiating the terms and
conditions of such loans with Yara and Banco BCI shortly.
Pampa originally acquired ownership of 53,557,332 Series A Shares prior to
SQM's registration with the Securities Exchange Commission with funds received
from bank loans and capital contributions of its affiliates.
Item 4. Purpose of Transaction.
Pampa and SQYA undertook the purchase of additional shares of SQM Series A
Shares in order to increase their interest in SQM. The interests of Pampa, SQYA
and the Reporting Persons in SQM were acquired solely for the purpose of
investment.
Each of the Reporting Persons intends to review its investment in SQM on a
regular basis and, as a result thereof, may at any time or from time to time
determine, either alone or as part of a group, (a) to acquire additional
securities of SQM, through open market purchases, privately negotiated
transactions or otherwise, (b) to dispose of all or a portion of the securities
of SQM owned by it in the open market, in privately negotiated transactions, in
one or more registered public offerings or otherwise, or (c) to take any other
available course of action, which could involve one or more of the types of
transactions or have one or more of the results described in the next paragraph
of this Item 4. Notwithstanding anything contained herein, each of the Reporting
Persons specifically reserves the right to change its intention with respect to
any or all of such matters. In reaching any decision as to its course of action
(as well as to the specific elements thereof), each of the Reporting Persons
currently expects that it would take into consideration a variety of factors,
including, but not limited to, the following: SQM's business and prospects;
other developments concerning SQM and its businesses generally; other business
opportunities available to the Reporting Persons; changes in law and government
regulations; general economic conditions; and financial and stock market
conditions, including the market price of the Series A Shares.
Except as set forth in this Item 4, the Reporting Persons have no present
plans or proposals that relate to, or that would result in, any of the actions
specified in clauses (a) through (j) of Schedule 13D of the Exchange Act.
Item 5. Interest in Securities of the Issuer.
(a) Global Mining directly and beneficially owns 7,123,076 Series A Shares,
which represents 4.99% of Series A Shares. Pampa directly owns 52,434,256 Series
A Shares and, by virtue of its ownership and control of Global Mining, is deemed
to beneficially own the 7,123,076 Series A Shares owned by Global Mining.
Pampa's aggregate beneficial ownership of 59,557,332 Series A Shares represents
41.7% of Series A Shares. By virtue of their ownership and control of Pampa,
each of Oro and Norte is deemed to beneficially own the 59,557,332 Series A
Shares or 41.7% of Series A Shares beneficially owned by Pampa.
SQYA directly owns 6,145,092 Series A Shares and, by virtue of its
ownership and control of Norte, is deemed to beneficially own the 59,557,332
Series A Shares beneficially owned by Norte. SQYA's aggregate beneficial
ownership of 65,702,424 Series A Shares represents 46% of Series A Shares. Each
of SQ Holding, SQ Grand Cayman, Pacific Atlantic Trading and Pacific Trust, by
virtue of their direct or indirect ownership and control of SQYA, is deemed to
beneficially own the 65,702,424 Series A Shares or 46% of Series A Shares
beneficially owned by SQYA.
Mr. Ponce directly owns 17,026 Series A Shares and, by virtue of his
ownership and control of Pacific Trust, is deemed to beneficially own the
65,702,424 Series A Shares beneficially owned by Pacific Trust. Mr. Ponce's
aggregate beneficial ownership of 65,719,450 Series A Shares represents 46.02%
of Series A Shares.
(b) Global Mining has the shared power to vote or direct the vote, or
dispose or direct the disposition of 7,123,076 of the Series A Shares. Pampa,
Oro, and Norte have the
shared power to vote or direct the vote, or dispose or direct the disposition of
59,557,332 of the Series A Shares. SQYA, SQ Holding, SQ Grand Cayman, Pacific
Atlantic Trading, Pacific Trust and Mr. Ponce have the shared power to vote or
direct the vote, or dispose or direct the disposition of 65,719,450 Series A
Shares.
Mr. Ponce has the sole power to vote or direct the vote, or to dispose or
direct the disposition of the 17,026 Series A Shares that he directly owns. None
of the Reporting Persons, with the exception of Mr. Ponce, has the sole power to
vote or direct the vote, or to dispose or direct the disposition of their
respective shares.
(c) None of the Reporting Persons has effected any transaction in the
Series A Shares in the last 60 days except:
o On December 21, 2004, Pampa acquired 6,000,000 Series A Shares on the
open market in Chilean Stock Exchange for CH$4,001 per share or for an
aggregate purchase price of CH$24,006,000,000.
o On January 14, 2005, SQYA acquired 6,145,092 Series A Shares on the
open market in the Chilean Stock Exchange for CH$4,002 per share or
for an aggregate purchase price of CH$24,592,658,184.
(d) To the best knowledge of the Reporting Persons, no other person has the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the Class A Common Shares beneficially owned by the
Reporting Persons.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understanding or Relationships with
Respect to Securities of the Issuer.
In order to set the terms and conditions governing their joint ownership of
SQYA, SQ Holding and Norsk Hydro Holland B.V. ("Norsk") entered into the
Shareholders Agreement of Inversiones SQNH S.A. [predecessor entity of SQYA]
dated April 18, 2002 (the "Shareholders Agreement"). Pursuant to the
Shareholders Agreement, SQ Holding and Norsk agree that Norsk, as the-then owner
of 49% of the share capital of SQYA, had the right to designate at least one
person to be elected to the boards of directors of Norte, Oro, Pampa and SQM. SQ
Holding and Norsk further agreed that any of their votes remaining after
electing a person designated by Hydro to the boards of Norte, Oro, Pampa and SQM
would be used to elect three directors designated by SQ Holding to the boards of
Norte, Oro and Pampa and two directors designated by SQ Holding to the board of
SQM. Under the Shareholders Agreement, SQ Holding and Norsk further agreed that
the president of SQM would always be designated by SQ Holding.
On September 15, 2004, Yara acquired Norsk's interest in SQYA and assumed
all of Norsk's rights and obligations under the Shareholders Agreement.
Item 7. Material to Be Filed as Exhibits.
Exhibit 1: Joint Filing Agreement, dated as of February 14, 2005, among Global
Mining Investment (Chile) Ltda., Sociedad de Inversiones Pampa
Calichera S.A., Sociedad de Inversiones Oro Blanco S.A., Norte Grande
S.A., Inversiones SQYA S.A., Inversiones SQ Holding S.A., S.Q. Grand
Cayman Corp., Pacific Atlantic Trading Corporation, The Pacific Trust
and Mr. Julio Ponce Lerou.
Exhibit 2: Shareholders Agreement of Inversiones SQNH dated April 18, 2002 among
Inversiones SQ Holding S.A. and Norsk Hydro Holland B.V.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 14, 2005
GLOBAL MINING INVESTMENT (CHILE) LTDA. SQ HOLDING S.A.
By /s/ Jose Guerrero Zamorano By /s/ Roberto Guzman Lyon
Name: Jose Guerrero Zamorano Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
SOCIEDAD DE INVERSIONES PAMPA CALICHERA S.A. S.Q. GRAND CAYMAN CORP.
By /s/ Patricio Phillips Saenz By /s/ Roberto Guzman Lyon
Name: Patricio Phillips Saenz Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
SOCIEDAD DE INVERSIONES ORO BLANCO S.A. PACIFIC ATLANTIC TRADING CORPORATION
By /s/ Patricio Phillips Saenz By /s/ Roberto Guzman Lyon
Name: Patricio Phillips Saenz Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
NORTE GRANDE S.A. THE PACIFIC TRUST
By /s/ Patricio Phillips Saenz By /s/ Roberto Guzman Lyon
Name: Patricio Phillips Saenz Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
JULIO PONCE LEROU
INVERSIONES SQYA S.A.
/s/ Julio Ponce Lerou
By /s/ Felipe Garcia Huidobro
Name: Felipe Garcia-Huidobro
Title: General Manager
SCHEDULE A
ADDITIONAL INFORMATION CONCERNING GLOBAL MINING
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. Jose Guerrer Zamorano Ahumada 131, Suite 801 Officer - Global Mining Investment (Chile) Ltda. Chile
(Officer) Santiago, Chile
SCHEDULE B
ADDITIONAL INFORMATION CONCERNING PAMPA
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. Julio Ponce Lerou El Trovador 4285 Chairman of Board of Directors - SQM Chile
(Chairman of Board of 6th Floor
Directors) Santiago, Chile
Mr. Fernando Tisne Av. Isidora Goyenechea Business Engineer - Executive of Moneda Assets Chile
Maritano (Director) 3621, 8th Floor Management
Santiago, Chile
Mr. Juan Luis Rivera Palma Av. Apoquindo 3600 Business Engineer - Executive of Bancard S.A. Chile
(Director) 7th Floor
Santiago, Chile
Mr. Eugenio Ponce Lerou El Trovador 4285 Mechanical Engineer - Senior Commercial Vice President Chile
(Director) 6th Floor of SQM
Santiago, Chile
Mr. Kendrick T. Wallace El Trovador 4285 Senior Vice President and General Counsel - Yara U.S.A.
(Director) 6th Floor International ASA
Santiago, Chile Member of the Board of Directors of SQM
Mr. Roberto Guzman Lyon Moneda 920 Attorney - Servicios Profesionales Guzman y Manriquez Chile
(Director) 7th Floor Ltda.
Santiago, Chile
Mr. Luis Vasquez Caro Av. Isidora Goyenechea Business Engineer - Molina Swett y Valdes S.A. Chile
(Director) 3621, 8th Floor
Santiago, Chile
Mr. Patricio Phillips Ahumada 131, Suite 801 Officer - Sociedad de Inversiones Pampa Calichera S.A., Chile
Saenz (Officer) Santiago, Chile Sociedad de Inversiones Oro Blanco S.A., and
Norte Grande S.A.
SCHEDULE C
ADDITIONAL INFORMATION CONCERNING ORO
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. Julio Ponce Lerou El Trovador 4285 Chairman of Board of Directors - SQM Chile
(Chairman of Board of 6th Floor
Directors) Santiago, Chile
Mr. Julio Ponce Pinochet El Trovador 4285 Forestry Engineer - SQM Chile
(Director) 6th Floor
Santiago, Chile
Mr. Alejandro Ponce El Trovador 4285 Forestry Engineer - SQM Chile
Pinochet (Director) 6th Floor
Santiago, Chile
Mr. Luis Vasquez Caro El Trovador 4285 Business Engineer - Molina Swett y Valdes S.A. Chile
(Director) 6th Floor
Santiago, Chile
Mr. Felipe Garcia-Huidobro Mapocho 3411 Officer - SQ Holding S.A. and Inversiones SQYA S.A. Chile
Mac Auliffe (Director) Santiago, Chile
Mr. Kendrick T. Wallace El Trovador 4285 Senior Vice President and General Counsel - Yara U.S.A.
(Director) 6th Floor International ASA
Santiago, Chile Member of the Board of Directors of SQM
Mr. Roberto Guzman Lyon Moneda 920 Attorney - Servicios Profesionales Guzman y Manriquez Chile
(Director) 7th Floor Ltda.
Santiago, Chile
Mr. Patricio Phillips Ahumada 131, Suite 801 Officer - Global Mining Investment (Chile) S.A, Chile
Saenz (Officer) Santiago, Chile Sociedad de Inversiones Pampa Calichera S.A., Sociedad
de Inversiones Oro Blanco S.A., and Norte Grande S.A.
SCHEDULE D
ADDITIONAL INFORMATION CONCERNING NORTE
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. Julio Ponce Lerou El Trovador 4285 Chairman of Board of Directors - SQM Chile
(Chairman of Board of 6th Floor
Directors) Santiago, Chile
Mr. Julio Ponce Pinochet El Trovador 4285 Forestry Engineer - SQM Chile
(Director) 6th Floor
Santiago, Chile
Mr. Alejandro Ponce El Trovador 4285 Forestry Engineer - SQM Chile
Pinochet (Director) 6th Floor
Santiago, Chile
Mr. Luis Vasquez Caro El Trovador 4285 Business Engineer - Molina Swett y Valdes S.A. Chile
(Director) 6th Floor
Santiago, Chile
Mr. Felipe Garcia-Huidobro Mapocho 3411 Officer - SQ Holding S.A. and Inversiones SQYA S.A. Chile
Mac Auliffe (Director) Santiago, Chile
Mr. Kendrick T. Wallace El Trovador 4285 Senior Vice President and General Counsel - Yara U.S.A.
(Director) 6th Floor International ASA
Santiago, Chile Member of the Board of Directors of SQM
Mr. Roberto Guzman Lyon Moneda 920 Attorney - Servicios Profesionales Guzman y Manriquez Chile
(Director) 7th Floor Ltda.
Santiago, Chile
Patricio Phillips Saenz Ahumada 131, Suite 801 Officer - Global Mining Investment (Chile) S.A, Sociedad Chile
(Officer) Santiago, Chile de Inversiones Pampa Calichera S.A., Sociedad de
Inversiones Oro Blanco S.A., and Norte Grande S.A.
SCHEDULE E
ADDITIONAL INFORMATION CONCERNING SQYA
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. Julio Ponce Lerou El Trovador 4285 Chairman of Board of Directors - SQM Chile
(Chairman of Board of 6th Floor
Directors) Santiago, Chile
Mr. Roberto Guzman Lyon Moneda 920 Attorney - Servicios Profesionales Guzman y Manriquez Chile
(Director) 7th Floor Ltda. Ltda.
Santiago, Chile
Mr. Pablo Iacobelli de Rio Miraflores 222 Attorney - Carey y Cia Ltda. Chile
(Director) 24th Floor
Santiago, Chile
Mr. Richardo Peralta El Trovador 4285 Attorney - SQM Chile
Valenzuela (Director) 6th Floor
Santiago, Chile
Mr. Kendrick T. Wallace El Trovador 4285 Senior Vice President and General Counsel - Yara U.S.A.
(Director) 6th Floor International ASA
Santiago, Chile Member of the Board of Directors of SQM
Mr. Felipe Garcia-Huidobro Mapocho 3411 Officer - SQ Holding S.A. and Inversiones SQYA S.A. Chile
Mac Auliffe (Officer) Santiago, Chile
SCHEDULE F
ADDITIONAL INFORMATION CONCERNING SQ HOLDING
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. Roberto Guzman Lyon Moneda 920 Attorney - Servicios Profesionales Guzman y Manriquez Chile
(Chairman, Board of 7th Floor Ltda.
Directors) Santiago, Chile
Mr. Felipe Garcia-Huidobro Mapocho 3411 Officer - SQ Holding S.A. and Inversiones SQYA S.A. Chile
Mac Auliffe (Director) Santiago, Chile
Mrs. Claudia Morales Soza Ahumada 131 Attorney - S.A.C. S.A. Chile
(Director) Suite 801
Santiago, Chile
Mr. Felipe Garcia-Huidobro Mapocho 3411 Officer - SQ Holding S.A. and Inversiones SQYA S.A. Chile
Mac Auliffe (Officer) Santiago, Chile
SCHEDULE G
ADDITIONAL INFORMATION CONCERNING SQ GRAND CAYMAN
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. John Metcalfe Cole 12 Wheatfield Road Accountant England and
(Director) Harpenden, Herfordshire Wales
England
Mr. Roberto Guzman Lyon Moneda 920 Attorney - Servicios Profesionales Guzman y Manriquez Chile
(Officer) 7th Floor Ltda.
Santiago, Chile
SCHEDULE H
ADDITIONAL INFORMATION CONCERNING PACIFIC ATLANTIC TRADING
Name Business Address Present Principal Occupation or Employment and Name of Citizenship
Employer
Mr. Thomas A. Rucker 222 Central Park Avenue Attorney - Partner of Willcox & Savage U.S.A.
(Director) Suite 1500
Virginia Beach, VA
U.S.A.
Mr. Roberto Guzman Lyon Moneda 920 Attorney - Servicios Profesionales Guzman y Manriquez Chile
(Officer) 7th Floor Ltda.
Santiago, Chile
EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned hereby agree that the Statement on Schedule 13D, dated
February 14, 2005, with respect to the Series A Shares of Sociedad Quimica y
Minera de Chile S.A. is, and any amendments thereto executed by each of us shall
be, filed on behalf of each of us pursuant to and in accordance with the
provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as
amended, and that this Agreement shall be included as an Exhibit to the Schedule
13D and each such amendment. Each of the undersigned agrees to be responsible
for the timely filing of the Schedule 13D and any amendments thereto, and for
the completeness and accuracy of the information concerning itself contained
therein. This Agreement may be executed in any number of counterparts, all of
which taken together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
14th day of February, 2005.
GLOBAL MINING INVESTMENT (CHILE) LTDA. SQ HOLDING S.A.
By /s/ Jose Guerrero Zamorano By /s/ Roberto Guzman Lyon
Name: Jose Guerrero Zamorano Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
SOCIEDAD DE INVERSIONES PAMPA CALICHERA S.A. S.Q. GRAND CAYMAN CORP.
By /s/ Patricio Phillips Saenz By /s/ Roberto Guzman Lyon
Name: Patricio Phillips Saenz Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
SOCIEDAD DE INVERSIONES ORO BLANCO S.A. PACIFIC ATLANTIC TRADING CORPORATION
By /s/ Patricio Phillips Saenz By /s/ Roberto Guzman Lyon
Name: Patricio Phillips Saenz Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
NORTE GRANDE S.A. THE PACIFIC TRUST
By /s/ Patricio Phillips Saenz By /s/ Roberto Guzman Lyon
Name: Patricio Phillips Saenz Name: Roberto Guzman Lyon
Title: General Manager Title: General Manager
JULIO PONCE LEROU
INVERSIONES SQYA S.A.
/s/ Julio Ponce Lerou
By /s/ Felipe Garcia Huidobro
Name: Felipe Garcia-Huidobro
Title: General Manager