jan 1, 1971 - State of Chile acquired through CORFO 100% of SQM

Description:

At the end of 1966, the problem of the expiration of the state enterprise managed by COVENSA 30 July 1968, and how to organize the nitrate industry arose. Negotiations with Anglo-Lautaro to establish a partnership led to the creation of SQM, with the intent to restructure the declining nitrate production, increase investment and improve exploitation. As a result, SQM was given a monopoly in the exploitation and commercialization of nitrate.[3]

In 1971, the State of Chile, through CORFO, acquired 100% of the property and with this, the exploitation of nitrate was nationalized.

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