China’s SAMR clears SQM–Codelco Atacama JV; pricing commitments

Rhea-AI Filing Summary

Sociedad Química y Minera de Chile (SQM) announced that China’s State Administration for Market Regulation (SAMR) approved the public‑private partnership between SQM and Codelco to develop extractive, productive, and commercial activities related to CORFO’s mining properties in the Salar de Atacama.

SAMR’s approval is conditioned on commitments covering: (i) safeguards against exchanging sensitive information with other lithium market participants; (ii) corporate governance practices; and (iii) supplying minimum quantities of finished lithium carbonate to Chinese customers on FRAND terms at prices that cannot exceed those set under the commitment. SQM stated these commitments are consistent with its established practices in China and estimates that, had they applied from 2023 to now, its results would not have changed substantially. An English translation of SAMR’s approval decision and the commitment will be made available to shareholders.

Insights

Global commodities & antitrust analyst

SAMR cleared the SQM–Codelco JV with FRAND supply conditions.

SAMR approval removes a key antitrust hurdle for the SQM–Codelco partnership tied to CORFO assets in the Salar de Atacama. The decision includes commitments on information‑sharing safeguards, governance, and FRAND supply of finished lithium carbonate to Chinese customers, with a price cap linked to the commitment terms.

SQM notes these conditions align with its existing China practices and indicates that applying them from 2023 to the present would not have materially altered results. That signals limited near‑term earnings impact from the commitments themselves, while enabling the JV to proceed under Chinese competition rules.

Key items to watch are publication of the English translation of the approval and commitment, and any future disclosures describing supply volumes, specifications, and compliance processes. The filing does not quantify volumes or prices; actual commercial effects will depend on implementation details in subsequent communications.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did China’s SAMR approve regarding SQM (SQM)?

SAMR approved the public‑private partnership between SQM and Codelco related to CORFO’s mining properties in the Salar de Atacama.

What commitments are tied to the SQM–Codelco JV approval?

Commitments include safeguards against sharing sensitive information, corporate governance practices, and FRAND supply of finished lithium carbonate to Chinese customers with a price cap per the commitment.

How does SQM expect the commitments to affect results?

SQM estimates that if the commitments had applied from 2023 to now, its results would not have changed substantially.

Will shareholders see the approval details?

Yes. An English translation of SAMR’s approval decision and the commitment will be made available to shareholders.

Which products are referenced in the FRAND supply commitment?

The commitment references supplying certain minimum quantities of finished lithium carbonate products in various specifications to Chinese customers.

What is the geographic focus of the JV’s activities?

The JV relates to exploration and exploitation of CORFO’s mining properties in the Atacama Salt Flat (Salar de Atacama).

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

For the month of November 2025.

Commission File Number 33-65728

CHEMICAL AND MINING COMPANY OF CHILE INC.

(Translation of registrant’s name into English)

El Trovador 4285, Santiago, Chile (562) 2425-2000

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F:_X_ Form 40-F

Approval from the State Administration for Market Regulation of People’s Republic of China to the Partnership between SQM and Codelco

Santiago, Chile, November 10, 2025 –Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) informs that on this date the State Administration for Market Regulation of People’s Republic of China (“SAMR”) has approved the public-private association between SQM and Codelco to jointly develop extractive, productive and commercial activities derived from the exploration and exploitation of certain mining properties of the Production Development Corporation (CORFO) in the Atacama Salt Flat (Salar de Atacama) (directly or through its subsidiaries or representative offices) (the “Business”).

SAMR's authorization required SQM, Codelco, and the joint venture in which they will participate to develop the Business to undertake certain commitments to SAMR. In general terms, these commitments relate to (i) safeguards to prevent the exchange of sensitive information with other participants in the lithium market, (ii) corporate governance practices, and (iii) supplying certain minimum quantities of finished lithium carbonate products in their various specifications to Chinese customers on fair, reasonable, and non-discriminatory (FRAND) terms at prices that cannot exceed those applicable under the aforementioned commitment. A copy of an English translation of the version published by SAMR (which contains edits to protect free competition agreed upon with the authority) of its approval decision and the commitment will be made available to shareholders as soon as possible.

These commitments are consistent with SQM's established business practices in China. In line with the above, SQM estimates that, if these commitments had been in place between 2023 and this date, SQM's results would not have changed substantially.

About SQM

SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, and iodine markets.

For further information, contact:

Gerardo Illanes: gerardo.illanes@sqm.com

Isabel Bendeck: isabel.bendeck@sqm.com

Megan Suitor: megan.suitor@sqm.com

Media contacts:

Lithium Division: Ignacia Lopez / ignacia.lopez@sqm.com

Iodine- Plant Nutrition Division: Carolina Guzman / carolina.guzman@sqm.com

International Lithium Divicion: Diana WearingSmith / diana.wearingsmith@sqm.com

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			CHEMICAL AND MINING COMPANY OF CHILE INC.
			(Registrant)
Date: November 10, 2025			/s/ Gerardo Illanes
			By: Gerardo Illanes
			CFO

Persons who are to respond to the collection of information contained SEC 1815 (04-09) in this form are not required to respond unless the form displays currently valid OMB control number.