Nov 23 Chile's SQM
, one of the world's biggest producers of lithium,
reported its quarterly profit more than quadrupled, powered by
higher lithium prices.
SQM, which also produces iodine and specialty fertilizers,
said net income rose to $55.8 million, or 21 cents per American
Depositary Receipt (ADR), in the third quarter, from $13.7
million, or 5 cents per ADR, a year earlier.
Revenue rose 13.2 percent to $504 million.
SQM, a former state company with access to vast mineral
reserves in Chile's Atacama desert, has benefited from rocketing
prices for lithium, which is used to power batteries for
(Reporting by Ismail Shakil in Bengaluru and Rosalba O'Brien in
Santiago; Editing by Leslie Adler)