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|Same old dodgy activity by SQM, any deception they can think of to make a buck they will try. That's obviously on top of the lithium export dodge under investigation
Still no comment from them for a similar situation at the main iodine mine.
shoukd be called crooksrus|
|Thanks, good news.|
|Translation of above
The miner linked to Julio Ponce presented an expensive compliance plan for US $ 18 million to remedy infractions over the Atacama salt flats. Superintendence of the Environment would reject the proposal for lack of antecedents.
The next few days will be key for the miner linked to Julio Ponce (SQM) in environmental matters. In the coming days, the Superintendence of the Environment (SMA) will announce its opinion on the compliance program that the company will present to avoid a fine of US $ 23 million for infractions in the Salar de Atacama.
The regulator, under the Ministry of the Environment, would reject SQM's proposal, they claim, and their legal teams are thoroughly and thoroughly studying all the background to the case to establish their opinion in the best way.
The reason? The proposed environmental plan would not have all the background required by the authority for approval.
The proposal of the non-metallic miner considers works valued at $ 11.305 million, about US $ 18 million, being the second most expensive plan in history, after that of the Sierra Gorda Mining which cost US $ 20 million.
If the rejection of the plan of the mining company materialized, the firm would have appeals through environmental courts, by the experts of the SMA are analyzing precisely their consequences.
The environmental authority detected six environmental faults in SQM Salar, located 100 kilometers from San Pedro de Atacama, in the Antofagasta Region. The charges basically pointed to the lack of measures to control emissions to the atmosphere and the operation of the tailings system in a different way than authorized.
According to the authority, SQM extracted brine above what was allowed, affecting the vitality of carob trees bordering the project, as well as providing incomplete information regarding fresh water extraction, well levels and plant formations.
The case has ignited the alarms inside the company that today is presided over by Eugenio Ponce Lerou.
In the framework of the sanctions process, Rockwood, its biggest competitor in the lithium market in Chile, became part of the process last February and asked the authority to require the miner to correct the proposal, since it would not comply with the Requirements of the environmental law. Thus, through a writing launched strong accusations against the signature, and asked the SMA that SQM reveal more antecedents about its operation in the Salar de Atacama. "There are serious shortcomings regarding the requirements and criteria that a Compliance Plan (PCP) must have to be approved," the statement said.
SQM replied that: "My representative has made permanent efforts to maintain the confidentiality of the information regarding points and volumes of extraction, which has been expressed as sensitive information of a commercial and economic nature." And he shot: "It is clear that the livelihood of Rockwood's appearance in this process is sought to be protected in environmental protection objectives, in circumstances that its ultimate purpose is merely commercial."
In this line, he explains that: "It seems unlikely that a holder who has carried out extractions of brine significantly over authorized (34% in four years) appears in this procedure as a leader of the environmental integrity of the lagoon systems in the basin or Presents to drag to SQM Salar, to the application of a contingency plan that pretends obvious conceptual errors ", concluded the firm.
On February 23, the Corporación de Fomento de la Producción (Corfo) became part of the sanctioning process. And a month later he presented a letter requesting the rejection of the plan proposed by SQM.
"It is estimated that the compensation measures proposed by SQM Salar in the Compliance Plan presented are not at all satisfactory, since these are mitigations that tend to produce long-term effects, not allowing to immediately restore the environmental balance, nor reduce or eliminate In the short term, the adverse effects caused by non-compliance, "Corfo said.
For Corfo, the environmental violations committed by SQM Salar seriously impair the sustainability of the Salar ecosystem as a whole and directly affect the environmental components that the RCA sought to protect, implying a violation of Corfo's interests. "|
|My guess is the SWD is IO3. It looks like was plugged back from the Arbuckle in Nov/Dec 16.
That may explain the seeking other option as a runner if Chesa don't have enough. Various combinations there, pipe from main line and back, new level not taking enough brine and so on.
|last year results came out on 9th May. May well have further update on relocation of IO3 and iodine prices for April.|
I don't know but it did sound like they would make a decision soon. It seems to me there must be a decent brine option nearby other than the operators brine, so perhaps part of the trigger is if Chesa would allow that brine to come onto site.
Who knows perhaps Chesa would sell on the SWD to someone else. Being an Arbuckle SWD it won't have of a high value in theory but may prove useful to someone else. With the method of piping brine in and back to the main pipe it may not be dependent on the SWD either.|
There is that other factor which I mentioned.
The moment they add a plant to a new site production goes up beyond the previous best. They talk of them being io2 like which mean 200 tonnes plus.
EG the original mention of 2 new sites should in theory add 400 tonnes.
That has the impact of knocking back the opex materially especially with a low end plant also gone. I suspect io2 is in the $10-$15 dollar range.
I can see such 200 tonnes plants being $10 per kg profit at a $25 per kg iodine price giving $4 mill gross profit for the 2.
That's why the story would have been far different had the plants been out in the right place first time around.
Then we forget $25 is below historical lows with the weak peso and the cheap oil helping on costs for Chile. It's been an SQM orchestrated event to kill off new mines in the pipeline and expansion for others.|
|Hopefully we will see another move up once the plans are formally announced. Is it my imagination or did Tom say in the recent interview it would be in next month? Ie. Before Mid-May?|
|Expansion plans imminent
IO3 news imminent
Iodine price increases. Each 1 dollar rise is approx 500k dollars to the bottom line.
We have touched the floor finally and are pushing off|
I doubt it's something that will come into play but yes they do.
It's to load the thyroid with iodine otherwise it readily takes on radioactive iodine 131.
Goiter (enlargement of the thyroid) is caused by iodine deficiency. So taking iodine at high levels for short periods ensures the thyroid take on iodine 131.|
|I'm sure we hit 21p this time last year ............. heyho! who knows :-)|
|Any plans you'd like to share with us Wookie ?|
|haha - I'm sure the countries near NK are stocking up|
|Do they still use Iodine for treatment of radiation poisoning?|
|Just to add: text book reversal of descending highs on the way down, against the new pattern of ascending highs since start of January.|
|This is a really impressive breakout. Question is, how high could it go before the retrace? The one year range suggests 16 and 19 and possible targets, though it's a highly, highly volatile share, and I imagine many punters burned on the way down, will be fighting shy of getting re-involved on the way back up. IF we are on the way back up.
Maybe even time for a retrace tomorrow morning before we are able to contemplate the higher climb upwards?|
|That's great news Lucky!|
|Weekly log - 3yr trend broken
free stock charts from uk.advfn.com|
|Icing on the cake would be a company rns detailing expansión plans and perhaps confirming that the price rise that they hinted at recently is sticking.|
|Having for so often been one of the large fallers, today has certainly been a good one. Follow through is needed with further evidence of rising prices. As mentioned before each $1 rise is worth $0.5m to IOF.|
|Long time since IOF on the ADVFN leaders board! Fifth fastest rising share today. That will bring some traders in tomorrow.|
|Buying from over the pond?|
|Great sustained buying ............. big news soon .:-)|