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
a press release issued on October 9, 2008, regarding an increase in iodine
prices.
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.
Form
20-F x
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Form
40-F ) _____
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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_________
For
Immediate Release
SQM
ANNOUNCES PRICE INCREASE IN IODINE
Santiago,
Chile, October 9, 2008.- Sociedad
Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B,
SQM-A) announced that effective October 1st, 2008, or as contracts permit,
the
Company has increased the price of iodine by 25%.
Increasing
global demand, mainly driven by X-ray contrast media and LCD polarizing film
applications, combined with lower-than-expected supply from other players
in the
industry, have reduced the availability of iodine in the market. These
conditions explain the price increase.
SQM
is an
integrated producer and distributor of specialty plant nutrients, iodine
and
lithium. Its products are based on the development of high quality natural
resources that allow the Company to be a leader in costs, supported by a
specialized international network with sales in over 100 countries. SQM’s
development strategy aims to maintain and strengthen the Company’s world
leadership in its three core businesses: Specialty Plant Nutrition, Iodine
and
Lithium.
The
leadership strategy is based on the Company’s competitive advantages and on the
sustainable growth of the different markets in which it participates. SQM’s main
competitive advantages in its different businesses are:
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Low
production costs based on vast and high quality natural
resources.
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Know-how
and its own technological developments in its various production
processes.
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Logistics
infrastructure and high production levels that allow SQM to have
low
distribution costs.
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High
market share in all its core
products
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International
sales network with offices in more than 20 countries and sales
in over 100
countries.
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Synergies
from the production of multiple products that are obtained from
the same
two natural resources.
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Continuous
new product development according to the specific needs of its
different
customers.
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Conservative
and solid financial position
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For
further information, please visit our Web site, www.sqm.com,
or
contact:
Statements
in this press release concerning the Company’s business outlook, future economic
performances, anticipated profitability, revenues, expenses, or other financial
items, anticipated cost synergies and product or service line growth, together
with other statements that are not historical facts, are “forward-looking
statements” as that term is defined under Federal Securities Laws.
Any
forward-looking statements are estimates, reflecting the best judgment of
SQM
based on currently available information and involve a number of risks,
uncertainties and other factors that could cause actual results to differ
materially from those stated in such statements. Risks, uncertainties, and
factors that could affect the accuracy of such forward-looking statements
are
identified in the public filing made with the Securities and Exchange
Commission, and forward-looking statements should be considered in light
of
those factors.
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.
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Conf:
/s/
Ricardo Ramos R.
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Ricardo
Ramos R.
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Chief
Financial Officer
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Date:
October
10,
2008
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