UNITED
STATES OF AMERICA
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF
FOREIGN ISSUER
PURSUANT
TO RULE 13A-16 OR 15D-16
OF
THE
SECURITIES AND EXCHANGE ACT OF 1934
Includes
the free translation of a letter sent by SQM to the Superintendent of Securities
and Insurance (Superintendente de Valores y Seguros) in Chile, on May 23, 2008,
regarding the Company’s joint venture with Migao Corporation.
SOCIEDAD
QUIMICA Y MINERA DE CHILE S.A.
(Exact
name of registrant as specified in its charter)
CHEMICAL
AND MINING COMPANY OF CHILE INC.
(Translation
of registrant's name into English)
El
Trovador 4285, Santiago, Chile (562) 425-2000
(Address
and phone number of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82_________
May
23,
2008
Mr.
Guillermo Larraín R.
Superintendent
Superintendence
of Securities and Insurance
Avda.
Bernardo O’Higgins 1449
Santiago
Dear
Mr.
Superintendent,
We
have
received your Inquiry No. 13,962, dated May 22, 2008. As requested, we can
inform you that:
| |
1.
|
The
effects of the Agreement executed by SQM S.A. and Migao Corporation
are
relatively minor, especially considering the investment by SQM S.A.
- of
approximately US$10 million - and the fact that both companies already
commercialize potassium nitrate in the People’s Republic of China on an
individual basis. Therefore, essentially, the volumes produced through
the
“Joint Venture” will allow SQM S.A. to reduce certain transport costs in
the short term.
|
However,
SQM S.A. may eventually have a more significant logistical network in the
important Chinese market. However, such situation would be subject to numerous
conditions, including, but not limited to, a potential increase in the
production capacity of the “Joint Venture” to more than the currently budgeted
40,000 tons per year and the development of the potassium nitrate supply and
demand conditions of the respective markets.
| |
2.
|
The
Agreement was signed in Vienna, Austria, on Sunday May 18, 2008.
The
following day, Monday, May 19, was a holiday in Canada, where Migao
is
incorporated and where its shares are traded. Therefore, in order
to
inform both the Canadian and Chilean markets of the Agreement
simultaneously, the parties decided to wait until Tuesday, May 20
- a
business day in both Canada and Chile - to report the signing of
the
Agreement.
|
We
remain
at your disposal to clarify any additional matters that you may deem relevant
in
relation to the above.
Very
truly yours,
Sociedad
Química y Minera de Chile S.A.
Conf:
/s/
Patricio Contesse G.
Chief
Executive Officer
| Cc: |
Santiago
Stock Exchange
|
Brokers
Stock Exchange
Electronic
Stock Exchange
New
York
Stock Exchange
Securities
and Exchange Commission
The
Bank
of New York
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.
SOCIEDAD
QUIMICA Y MINERA DE CHILE S.A.
Conf:
/s/
Ricardo Ramos R.
Ricardo
Ramos R.
Chief
Financial Officer
Date:
May
23,
2008