Chilean lithium miner SQM’s profit drops as prices drag

The miner posted a net profit of US$580.3mil for the three months ended June, with earnings per share at US$2.03, below the US$2.88 forecast by analysts polled by Refinitiv. — Reuters

MEXICO CITY: Chile’s SQM, the world’s second-largest lithium producer, missed earning forecasts on Wednesday after reporting its second-quarter net profit dropped 32.5% from the year-ago period, pulled down by lower commodity prices.

The miner posted a net profit of US$580.3mil for the three months ended June, with earnings per share at US$2.03, below the US$2.88 forecast by analysts polled by Refinitiv.