Sociedad Química y Minera de Chile (SQM) Form 3 CHEMICAL & MINING CO OF CHILE / Kenneth L Settles Jr ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

SailingStone Capital Partners LLC

(Last) (First) (Middle)

1 CALIFORNIA STREET, SUITE 3050

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/28/2016

3. Issuer Name and Ticker or Trading Symbol
CHEMICAL & MINING CO OF CHILE INC [ SQM ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Series B Shares	32,529(1)(2)(3)	I	By: SAILINGSTONE GLOBAL NATURAL RESOURCES FUND, L.P.(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

SailingStone Capital Partners LLC

(Last) (First) (Middle)

1 CALIFORNIA STREET, SUITE 3050

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

SailingStone Holdings LLC

(Last) (First) (Middle)

1 CALIFORNIA STREET, SUITE 3050

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

Davis MacKenzie B

(Last) (First) (Middle)

1 CALIFORNIA STREET, SUITE 3050

(Street)

SAN FRANCISCO CA 941111

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

Settles Kenneth L Jr

(Last) (First) (Middle)

1 CALIFORNIA STREET, SUITE 3050

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Explanation of Responses:

1. On March 28, 2016, the Reporting Persons determined to submit Edward J. Waitzer for re-election to the Board of Chemical & Mining Co of Chile Inc. (the "Company") at the April 26, 2016 shareholder meeting and to encourage other Series B shareholders to vote for him. Prior to this, for Section 16 of the Securities Exchange Act of 1934, as amended (the "1934 Act"), purposes, the Reporting Persons did not beneficially own more than 10% of any class of the Company's equity securities due to beneficial ownership exemptions under Rules 16a-1(a)(1)(v) and (vii) under the 1934 Act, as applicable, for shares of the Company held in accounts for which SailingStone Capital Partners LLC serves as investment adviser. On May 26, 2016 the Reporting Persons no longer sought to influence control of the Company and, accordingly, no longer beneficially owned more than 10% of any class of the Company's equity securities due to exemptions from beneficial ownership under Rules 16a-1(a)(1)(v) and (vii).

2. Kenneth Settles holds approximately 0.89% of the limited partnership interests of SailingStone Global Natural Resources Fund, L.P. a Delaware limited partnership ("GNR Fund"), and may be considered to have a pecuniary interest in the proportionate amount of the common stock of the Company held by GNR Fund, or 14,403 shares. MacKenzie Davis holds approximately 1.12% of the limited partnership interests of GNR Fund and may be considered to have a pecuniary interest in the proportionate amount of the common stock of the Company held by GNR Fund, or 18,126 shares.

3. Each of the Reporting Persons (other than Kenneth Settles and MacKenzie Davis to the extent set forth above), hereby disclaims beneficial ownership of the shares held by GNR Fund pursuant to Rule 16a-1(a)(4) under the 1934 and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of any of the reported shares for purposes of Section 16 or for any other purpose.

	SailingStone Capital Partners LLC, By:/s/ Kathlyne Kiaie, Chief Compliance Officer	11/03/2016
	SailingStone Holdings LLC, By:/s/ MacKenzie B. Davis, Managing Member	11/03/2016
	/s/ MacKenzie B. Davis	11/03/2016
	/s/ Kenneth L. Settles Jr.	11/03/2016
	** Signature of Reporting Person	Date
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