Sociedad Química y Minera de Chile (SQM) 6-K Current report (foreign)

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 financial statements and their related notes for the nine-month period ended September 30, 2009 filed by Sociedad Química y Minera de Chile S.A. before the Superintendencia de Valores y Seguros de Chile on October 27, 2009.

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 Form 40-F ¨

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.

Yes ¨ No x

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82_________

On October 27, 2009, the Registrant filed with the Superintendencia de Valores y Seguros of Chile (the "SVS") a report that included information as to the Registrant's consolidated financial condition and results of operations for the nine-month period ended September 30, 2009. Attached is a summary of such consolidated financial information included in the summary and in the report filed with the Superintendencia de Valores y Seguros of Chile. This financial information was prepared on the basis of accounting principles generally accepted in Chile and does not include a reconciliation of such information to accounting principles generally accepted in the United States of America.

THIS REPORT IS AN ENGLISH TRANSLATION OF, AND A CHILEAN GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PRESENTATION OF, THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2009 REPORT FILED WITH THE SUPERINTENDENCIA DE VALORES Y SEGUROS (SVS) IN CHILE, AND UNLESS OTHERWISE INDICATED, FIGURES ARE IN US DOLLARS.

Consolidated Financial Statements

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Santiago, Chile

September 30, 2009 and 2008

Consolidated Financial Statements

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

As of September 30, 2009 and 2008

and for the nine month periods ended September 30, 2009 and 2008

(A translation of the original in Spanish- see note 2 (a))

Contents

Consolidated Financial Statements
Consolidated Balance Sheets	2
Consolidated Statements of Income	4
Consolidated Statements of Cash Flows	5
Notes to the Consolidated Financial Statements	6

Ch$	-	Chilean pesos
ThCh $	-	Thousands of Chilean pesos
US$	-	United States dollars
ThUS$	-	Thousands of United States dollars
ThEuro	-	Thousands of Euros
UF	-	The UF is an inflation-indexed, Chilean peso-denominated monetary unit.  The UF rate is set daily in advance, based on the change in the Consumer Price Index of the previous month.

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Consolidated Balance Sheet

(A translation of the original in Spanish- see note 2 (a))

		As of September 30,
	Note	2009			2008
		ThUS$			ThUS$
ASSETS
Current assets
Cash			22,071			22,360
Time deposits	33		270,742			77,763
Marketable securities	4		192,315			56,717
Accounts receivable, net	5		279,808			338,798
Other accounts receivable, net	5		68,102			73,307
Accounts receivable from related companies	6		77,698			58,989
Inventories, net	7		646,671			562,517
Recoverable taxes			64,168			43,802
Prepaid expenses			5,184			5,531
Deferred income taxes	15		33,969			16,265
Other current assets			51,530			34,357
Total current assets			1,712,258			1,290,406
Property, plant and equipment, net	8		1,264,408			1,045,724
Other Assets
Investments in related companies	9		34,282			36,824
Goodwill, net	10		30,269			32,548
Negative goodwill, net	10		(1,074	)		(1,279	)
Long-term accounts receivable, net	5		1,417			1,044
Long-term accounts receivable from related companies	6		-			2,000
Intangible assets, net			2,622			3,285
Other long-term assets	11		43,104			34,563
Total Other Assets			110,620			108,985
Total assets			3,087,286			2,445,115

2

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Consolidated Balance Sheet

(A translation of the original in Spanish- see note 2 (a))

		As of September 30,
	Note	2009		2008
		ThUS$		ThUS$
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Short-term bank debt	12		99,784		22,388
Current portion of long-term debt	12		100,917		1,114
Obligations with the public (commercial papers)	13		53,881		-
Current portion of bonds payable	13		14,957		12,717
Dividends payable			795		546
Accounts payable			156,597		138,820
Other accounts payable			364		364
Notes and accounts payable to related companies	6		765		553
Accrued liabilities	14		52,077		60,706
Withholdings			7,985		11,399
Income taxes			12,439		68,162
Deferred income	32		30,780		55,873
Deferred income taxes	15		-		-
Other current liabilities			2,646		7,797
Total current liabilities			533,987		380,439
Long-term liabilities
Long-term bank debt	12		275,000		180,000
Long-term Obligations with the Public (Bonds)	13		634,544		299,941
Other accounts payable			242		515
Deferred income taxes	15		60,559		55,005
Long-term accrued liabilities	16		49,500		31,706
Total long-term liabilities			1,019,845		567,167
Minority interest	17		43,721		51,363
Shareholders' equity
Paid-in capital	18		477,386		477,386
Other reserves	18		160,563		163,095
Retained earnings	18		851,784		805,665
Total shareholders' equity			1,489,733		1,446,146
Total liabilities and shareholders' equity			3,087,286		2,445,115

3

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Consolidated Statements of Income

(A translation of the original in Spanish- see note 2 (a))

		For the nine months ended
		September 30,
	Note	2009			2008
		ThUS$			ThUS$
Operating results
Sales			1,049,182			1,376,225
Cost of sales			(648,453	)		(830,804	)
Gross margin			400,729			545,421
Selling and administrative expenses			(58,763	)		(64,037	)
Operating income			341,966			481,384
Non-operating results
Non-operating income	20		19,044			32,245
Non-operating expenses	20		(49,637	)		(44,085	)
Non-operating loss			(30,593	)		(11,840	)
Income before income taxes			311,373			469,544
Income tax expense	15		(60,434	)		(80,988	)
Income before minority interest			250,939			388,556
Minority interest	17		758			(7,485	)
Net income before negative goodwill			251,697			381,071
Net income			251,697			381,071

4

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Consolidated Statements of Cash Flows

(A translation of the original in Spanish- see note 2 (a)).

		For the nine months ended
	Note	2009			2008
		ThUS$			ThUS$
Cash flows from operating activities
Net income			251,697			381,071
Charges (credits) to income not representing cash flows
Depreciation expense	8		112,428			83,535
Amortization of intangible assets			493			528
Write-offs and accruals			38,033			19,090
Gain on equity investments in related companies			(2,562	)		(13,497	)
Loss on equity investments in related companies			850			33
Amortization of goodwill	10		1,632			1,669
(Profit) loss on sales of assets			(196	)		(2,939	)
Los from sale of investments			-			(1,387	)
Other credits to income not representing cash flows			(3,538	)		(3,556	)
Other charges to income not representing cash flows			114,184			172,690
Foreign exchange difference, net			8,528			7,585
Net changes in operating assets and liabilities (Increase) decrease:
Trade accounts receivable			9,111			(185,802	)
Inventories			(117,527	)		(199,902	)
Other assets			(63,382	)		(11,994	)
Accounts payable			(16,352	)		58,619
Interest payable			34,236			990
Net income taxes payable			(159,469	)		(40,705	)
Other accounts payable			(24,367	)		-
VAT and taxes payable			3,126			(13,802	)
Minority interest	17		(758	)		7,486
Net cash provided from operating activities			186,167			259,712
Cash flows from financing activities
Proceeds from short term bank financing			270,809			70,239
Bonds payable			372,347			-
Payment of dividends			(243,976	)		(115,990	)
Repayment of bank financing			(160,000	)		(50,000	)
Payment of obligations with the public			(2,788	)		(3,138	)
Payment of expenses for the issuance and placement of bonds payable			(4,447	)		-
Net cash used in financing activities			231,945			(98,889	)
Cash flows from investing activities
Sales of property, plant and equipment			1,729			25,382
Sales of permanent investments			-			1,688
Other investing income			2,121			-
Additions to property, plant and equipment			(257,074	)		(183,671	)
Capitalized interest			(13,089	)		(7,405	)
Other disbursements			(1,662	)		(565	)
Net cash used in investing activities			(267,975	)		(164,571	)
Effect of inflation on cash and cash equivalents			14,615			547
Net change in cash and cash equivalents			164,752			(3,201	)
Beginning balance of cash and cash equivalents			323,920			164,213
Ending balance of cash and cash equivalents			488,672			161,012

5

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 1 – Company Background

Sociedad Química y Minera de Chile S.A. (the “Company”) was registered with the Chilean Superintendency of Securities and Insurance (“SVS”) on March 18, 1983.

The subsidiary registered in the Superintendency of Securities and Insurance registry of securities is as follows:

Soquimich Comercial S.A., Registration No. 0436 dated January 11, 1993.

Note 2 – Summary of Significant Accounting Policies

a) Basis for the preparation of the consolidated financial statements

The accompanying consolidated financial statements have been prepared in U.S. dollars in accordance with accounting principles generally accepted in Chile (“Chilean GAAP”) and the regulations of the SVS. Certain accounting practices applied by the Company that conform with Chilean GAAP may not conform with generally accepted accounting principles in the United States (“US GAAP”). For the convenience of the reader, the consolidated financial statements and their accompanying notes have been translated from Spanish into English.

The consolidated financial statements include the accounts of Sociedad Química y Minera de Chile S.A. (the “Parent Company”) and subsidiaries (companies in which the Parent Company holds a controlling participation, generally equal to direct or indirect ownership of more than 50%). The Parent Company and its subsidiaries are referred to as the “Company”.

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.

In accordance SVS Circular No. 1,697 and Technical Bulletins Nos. 64 and 72 of the Chilean Association of Accountants, the consolidated financial statements include the following subsidiaries:

6

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 – Summary of Significant Accounting Policies (continued)

Basis for the preparation of the consolidated financial statements (continued)

	Direct or indirect ownership
	2009		2008
	%		%
Foreign subsidiaries:
Nitrate Corp. of Chile Limited (United Kingdom)		100.00		100.00
Soquimich SRL – Argentina		100.00		100.00
Nitratos Naturais do Chile Ltda. (Brazil)		100.00		100.00
SQM Europe NV (Belgium)		100.00		100.00
SQM North America Corp. (USA)		100.00		100.00
North American Trading Company (USA)		100.00		100.00
SQM Peru S.A.		100.00		100.00
SQM Corporation N.V. (Dutch Antilles)		100.00		100.00
S.Q.I. Corporation N.V. (Dutch Antilles)		100.00		100.00
Soquimich European Holding B.V. (Holland)		100.00		100.00
SQMC Holding Corporation L.L.P. (USA)		100.00		100.00
SQM Ecuador S.A.		100.00		100.00
SQM Investment Corporation N.V. (Dutch Antilles)		100.00		100.00
SQM Brasil Ltda.		100.00		100.00
Royal Seed Trading Corporation A.V.V. (Aruba)		100.00		100.00
SQM Japon Co. Ltd.		100.00		100.00
SQM Oceanía PTY Limited (Australia)		100.00		100.00
SQM France S.A.		100.00		100.00
RS Agro-Chemical Trading A.V.V. (Aruba)		100.00		100.00
SQM Comercial de México S.A. de C.V.		100.00		100.00
SQM Indonesia		80.00		80.00
SQM Virginia L.L.C. (USA)		100.00		100.00
SQM Venezuela S.A.		100.00		100.00
SQM Italia SRL (Italy)		100.00		100.00
Comercial Caiman Internacional S.A. (Cayman Islands)		100.00		100.00
SQM Africa PTY (South Africa)		100.00		100.00
Administración y Servicios Santiago S.A. de C.V. (Mexico)		100.00		100.00
SQM Lithium Specialties L.L.P. (USA)		100.00		100.00
SQM Nitratos México S.A. de C.V. (México)		51.00		51.00
Fertilizantes Naturales S.A.		66.67		66.67
Iodine Minera B.V.		100.00		100.00
SQM Dubai – FZCO.		100.00		100.00

7

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 – Summary of Significant Accounting Policies (continued)

Basis for the preparation of the consolidated financial statements (continued)

	Direct or indirect ownership
	2009		2008
	%		%
Domestic subsidiaries:
Servicios Integrales de Tránsitos y Transferencias S.A.		100.00		100.00
Soquimich Comercial S.A.		60.64		60.64
Isapre Norte Grande Ltda.		100.00		100.00
Almacenes y Depósitos Ltda.		100.00		100.00
Ajay SQM Chile S.A.		51.00		51.00
SQM Nitratos S.A.		100.00		100.00
Proinsa Ltda.		60.58		60.58
SQM Potasio S.A.		100.00		100.00
SQMC International Limitada.		60.64		60.64
SQM Salar S.A.		100.00		100.00
SQM Industrial S.A.		100.00		100.00
Minera Nueva Victoria S.A.		100.00		100.00
Exploraciones Mineras S.A.		100.00		100.00
Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.		100.00		100.00
Comercial Hydro S.A.		60.64		60.64
Agrorama Callegari Ltda.		42.45		-

All significant inter-company balances, transactions and unrealized gains and losses arising from transactions between these companies have been eliminated in consolidation.

8

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

b)           Period

These consolidated financial statements have been prepared for the nine month period as of September 30, 2009 and 2008.

c)           Reporting currency and monetary correction

The financial statements of the Company are prepared in U.S. dollars.  As a significant portion of the Company’s operations are transacted in U.S. dollars, the U.S. dollar is considered the currency of the primary economic environment in which the Company operates.

The Parent Company and those subsidiaries which maintain their accounting records in U.S. dollars are not required, or permitted, to restate the historical dollar amounts for the effects of inflation.

The financial statements of domestic subsidiaries, which maintain their accounting records in Chilean pesos have been restated to reflect the effects of variations in the purchasing power of Chilean pesos during the year.  For this purpose, and in accordance with Chilean regulations, non-monetary assets and liabilities, equity and income statement accounts have been restated in terms of year-end constant pesos based on the change in the consumer price index during the year (2.8% and 6.9% in 2009 and 2008, respectively).  The resulting net charge or credit to income arises as a result of the gain or loss in purchasing power from the holding of non-U.S. dollar denominated monetary assets and liabilities exposed to the effects of inflation.

Prior period financial statements presented for comparative purposes have not been restated to reflect the change in the purchasing power of the Chilean pesos during the most recent year-end.  In accordance with Chilean GAAP, amounts expressed in U.S. dollars, including amounts included in the consolidated financial statements as determined in prior years from the translation of financial statements of those Chilean subsidiaries which maintain their accounting records in Chilean pesos, are not adjusted for price-level changes.

9

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

d)           Foreign currency

i) Foreign currency transactions

Monetary assets and liabilities denominated in Chilean pesos and other currencies have been  translated to U.S. dollars at the observed exchange rates determined by the Central Bank of Chile in effect at each year-end of Ch$  550.36 per US$1 at September 30, 2009 and Ch$ 551.31 per US$1 at September 30, 2008.

ii)Translation of non-U.S. dollar financial statements

In accordance with Chilean GAAP, the financial statements of foreign and domestic subsidiaries that do not maintain their accounting records in U.S. dollars are translated from the respective local currencies to U.S. dollars in accordance with Technical Bulletin No. 64 and No. 72 of the Chilean Association of Accountants (“BT 64-BT 72”) as follows:

a)For those subsidiaries and affiliates located in Chile which keep their accounting records in price-level adjusted Chilean pesos:

- Balance sheet accounts are translated to U.S. dollars at the year-end exchange rate without eliminating the effects of price-level restatement.

- Income statement accounts are translated to U.S. dollars at the average exchange rate each month.  The monetary correction account on the income statement, which is generated by the inclusion of price-level restatement on the non-monetary assets and liabilities and shareholders’ equity, is translated to U.S. dollars at the average exchange rate for each month.

- Translation gains and losses, as well as the price-level restatement to the balance sheet mentioned above, are included as an adjustment in shareholders’ equity, in conformity with Circular No. 1,697 of the SVS.

10

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

b)The financial statements of those foreign subsidiaries that keep their accounting records in currencies other than the U.S. dollar have been translated at historical exchange rates as follows:

- Monetary assets and liabilities are translated at year-end exchange rates between the US dollar and the local currency.

- All non-monetary assets and liabilities and shareholders’ equity are translated at historical exchange rates between the US dollar and the local currency.

- Income and expense accounts are translated at average exchange rates between the US dollar and the local currency.

- Any exchange differences are included in the results of operations for the period.

d)           Foreign currency (continued)

Foreign exchange differences for the period ended September 30, 2009 and 2008 generated net earnings (loss) of ThUS$ (8,528) and ThUS$ (7,585) respectively, which have been charged to the consolidated statements of income in each respective period.

The monetary assets and liabilities of foreign subsidiaries were translated into US dollars at the exchange rates per US dollar prevailing at September 30, as follows:

	2009		2008
	US$		US$
Brazilian Real		1.78		1.96
New Peruvian Sol		3.19		3.19
Argentine Peso		3.85		3.15
Japanese Yen		98.25		118.50
Euro		0.68		0.68
Mexican Peso		13.55		10.94
Australian Dollar		1.14		1.27
Pound Sterling		0.61		0.56
Ecuadorian Sucre		1.00		1.00
South African Rand		7.44		8.17

The Company uses the “observed exchange rate”, which is the rate determined daily by the Chilean Central Bank based on the average exchange rates at which bankers conduct authorized transactions.

11

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

e)           Cash and cash equivalents

Included in cash and cash equivalents are cash and bank balances included in cash, time deposits, financial instruments classified as marketable securities and other short-term investments maturing within 90 days, in compliance with Technical Bulletin No. 50 issued by the Chilean Association of Accountants.

The Company defines cash flows from operating activities as all inflows and outflows of cash that are directly related to its operations and, in general, all cash flows not defined as being from investing or financing activities.

f)           Time Deposits

Time deposits are recorded at cost plus accrued interest.

g)           Marketable securities

Marketable securities are recorded at the lower of cost plus accrued interest or market value.

h)           Allowance for doubtful accounts

The Company records an allowance for doubtful accounts based on estimated probable losses.

i)           Inventories and materials

Inventories of finished products and products in process are stated at average production cost, which is presented net of provisions. Provisions have been made based on a technical study which covers the different variances which affect our products (density, moist, among others).

Materials and supplies received are stated at average acquisition and inventories in transit are stated at cost incurred at the end of the period.

The cost of inventories does not exceed its net realizable value.

j)           Income taxes and deferred income taxes

In conformity with current Chilean tax regulations, the Company recognizes the provision for corporate income tax expense and the income tax for the mining activity on an accrual basis.

12

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

j)           Income and deferred taxes (continued)

Prior to 2000, income taxes were charged to results in the same period in which the income and expenses were recorded and were calculated in accordance with the enacted tax laws in Chile and the other jurisdictions in which the Company operated.

Under Chilean law, the Parent Company and its subsidiaries are required to file separate tax declarations.

Beginning January 1, 2000, the Company records deferred income taxes in accordance with Technical Bulletin Nos. 60, 69, 71 and 73 of the Chilean Association of Accountants, and with Circular No. 1466 issued on January 27, 2000 by the SVS, recognizing the deferred tax effects of temporary differences between the financial and tax values of assets and liabilities, using the liability method. The effect of the temporary differences at March 31, 1999 were recorded in complementary asset and liability accounts, which are recognized in the statement of operations over the estimated period in which they reverse.

k)           Property, plant and equipment

Property, plant, equipment and property rights are recorded at acquisition cost, considering in general an average residual value of 5%, except for certain assets that were restated in accordance with a technical appraisal in 1989.  Depreciation for the period is calculated according to the straight-line method based on the remaining technical useful lives of assets, estimated by management.

Property, plant and equipment acquired through financial lease agreements are accounted for at the present value of the minimum lease payments plus the purchase option based on the interest rate included in each contract.  The Company does not legally own these assets and therefore cannot freely dispose of them.

In conformity with Technical Bulletin No. 31 and 33 of the Chilean Association of Accountants, the Company capitalizes interest cost associated with the financing of new assets during the construction period of such assets.

Maintenance costs of plant and equipment are charged to expenses as incurred.

The Company obtains property rights and mining concessions from the Chilean state.  Other than minor filing fees, the property rights are usually obtained without initial cost, and once obtained, are retained by the Company as long as the annual fees are paid.  Such fees, which are paid annually in September, are recorded as prepaid assets to be amortized over the following twelve months.  Values attributable to these original mining concessions are recorded in property, plant and equipment.

13

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

l)           Investments in related companies

Investments in related companies over which the Company has significant influence, are included in other assets and are recorded using the equity method of accounting, in accordance with SVS Circulars Nos. 368 and 1,697 and Technical Bulletins Nos. 64 and 72 issued by the Chilean Association of Accountants. Accordingly, the Company’s proportional share in the net income or loss of each investee is recognized in the non-operating income and expense classification in the consolidated statements of income on an accrual basis, after eliminating any unrealized profits from transactions with the related companies.

The translation adjustment to U.S. dollars of investments in domestic subsidiaries that maintain their accounting records and are controlled in Chilean pesos is recognized in other reserves within shareholders’ equity.  Direct and indirect investments in foreign subsidiaries or affiliates are controlled in U.S. dollars.

Investments in which the Company has less than 20% participation and the capacity to exert significant influence or control over the investment, because SQM forms part of its Board of Directors, have been valued using the equity method.

m)           Goodwill and negative goodwill

Goodwill is calculated as the excess of the purchase price of companies acquired over their net book value, whereas negative goodwill occurs when the net book value exceeds the purchase price of companies acquired.  Goodwill and negative goodwill resulting from equity method investments are maintained in the same currency in which the investment was made and are amortized based on the estimated period of investment return, generally 20 years for goodwill and negative goodwill.

Beginning on January 1, 2004, goodwill and negative goodwill represents the difference between the acquisition cost of the investment in a related company and the fair value of this investment at the acquisition date, which is amortized with a charge or credit to income in the expected period of return of the investment, which does not exceed 20 years.

Modification of fair value, goodwill or negative goodwill are performed within a year from the date of acquisition.

n)           Intangible assets

Intangible assets are stated at cost plus acquisition expenses and are amortized over a period of up to a maximum of 40 years, in accordance with Technical Bulletin No. 55 of the Chilean Association of Accountants.

14

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

o)           Mining development cost

Mining development costs are recorded in other long-term assets and are amortized utilizing the unit of production basis.

Prospecting expenses for mining claims where the product is low grade and not economically exploitable, are charged directly to income.

p)           Accrued employee severance

The Company calculates the liability for staff severance indemnities based on the present value of the accrued benefits for the actual years of service worked assuming average employee tenure of 24 years and a real annual discount rate of  8%.

q)           Vacations

The cost of employee vacations is recognized in the financial statements on an accrual basis.

r)           Saleback operations

These operations are registered in Other Current Assets at the amount of the purchase. Starting at the purchase date, the respective interest is recorded in accordance with SVS Circular 768.

s)           Derivative Contracts

The Company maintains derivative contracts to hedge against movements in foreign currencies, which are recorded in conformity with Technical Bulletin No. 57 of the Chilean Association of Accountants.  Such contracts are recorded at fair value with net losses recognized on the accrual basis and gains recognized when realized.

t)           Reclassifications

For comparison purposes, certain reclassifications have been made to the 2008 financial statements.

u)           Revenue recognition

Income from the operation of the line of business of the Company and its Subsidiaries, is recorded as of the date of physical delivery of the products in accordance with the sales conditions stated in Technical Bulletin No. 70 issued by the Chilean Association of Accountants.

15

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

Income from sales by installments is determined discounting the cash nominal value, using the interest rate implicit for this type of sale.  In this manner, interest not accrued at financial statement closing date is presented as a decrease in the value of the respective documents and as it accrues during the course of time, it is recognized as interest income.

v)           Computer software

Computational systems developed internally using the Company’s personnel and materials are charged to income during the year in which the expenses are incurred. In accordance with Circular No. 1.819 dated November 14, 2007 of the SVS, computer systems acquired by the Company are recorded at cost

w)           Research and development expenses

Research and development cost are charged to the income statement in the period in which they are incurred. Property, plant and equipment that are acquired for use in research and development activities and determined to provide additional benefits to the Company are recorded in property, plant and equipment.

x)           Obligations with the public (Bonds payable)

Bonds are stated at the principal amount plus interest accrued.  The difference between the carrying value and the placement value is capitalized and amortized in the period of expiration of these.

y)           Negotiable Instruments – Promissory Notes

Negotiable Instruments with a charge to line No. 46 of the Securities Registry of the Superintendence of Securities and Insurance are valued in Chilean pesos plus accrued interest.

 z)           Provisions for mine closure costs

The Company has made a provision to cover those costs associated with mine closure and mining facilities and mitigation of environmental damage, which has been recorded at its present value.  The amount determined is presented under accrued expenses in long-term liabilities.

16

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 2 - Summary of Significant Accounting Policies (continued)

aa)         Deferred income

Deferred income relate to the recognition of documented sales the delivery of which occurs subsequent to the closing date of the financial statements.

ab)         Employee benefits

Benefits agreed other than staff severance indemnities which the Company and its subsidiaries will have to pay to its employees by virtue of agreements entered recognized on an accrual basis.

17

 SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 3 - Changes in Accounting Principles

During the period ended September 30, 2009, there were no other changes in the application of generally accepted accounting principles in Chile compared to the prior year, which could significantly affect the interpretation of these consolidated financial statements.

18

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 4 - Marketable Securities

As of September 30 marketable securities are detailed as follows:

	2009		2008
	ThUS$		ThUS$
Mutual funds		192,315		56,717
Total		192,315		56,717

Mutual funds relate to investments made in 'Citifunds Institutional Liquid Reserve Limited' for ThUS$ 63,387 (ThUS$ 52,073 in 2008) in 'Merrill Lynch Institutional Liquidity Fund' for ThUS$ 64,422 (ThUS$ 4,644 in 2008), in JPM USDollar Money Market Fund ThUS$ 64,506 (ThUS$ 0 in 2008).

These funds are highly liquid and basically invest in fixed income instruments with less than 90 days duration.

Note 5 - Short-term and long-term Accounts Receivable

Short term and long-term accounts receivable and other accounts receivable as of September 30 are detailed as follows:

					Between 90 days				Total
	Up to 90 days				and 1 year				Short-term (net)
	2009		2008		2009		2008		2009			2008
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$			ThUS$
Short-term
Trade accounts receivable		234,194		266,249		60,428		82,264		294,622			348,513
Allowance for doubtful accounts										(14,814	)		(9,715	)
Notes receivable		40,386		26,131		22,025		37,308		62,411			63,439
Allowance for doubtful accounts										(6,241	)		(6,684	)
Accounts receivable, net										335,978			395,553
Other accounts receivable		12,580		13,665		824		4,001		13,404			17,666
Allowance for doubtful accounts										(1,472	)		(1,114	)
Other accounts receivable, net										11,932			16,552
Long-term receivables										1,417			1,044

19

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 5 - Short-term and Long-term Accounts Receivable (continued)

Consolidated Short-term and Long-term Receivables – by Geographic Location

													Asia and						USA, Mexico						Latin America
	Chile						Europe						Oceania						and Canada						and the Caribbean						Total
	2009			2008			2009			2008			2009			2008			2009			2008			2009			2008			2009			2008
	ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$
Net short-term trade accounts receivable
Balance		74,815			182,686			120,815			106,137			25,522			8,914			32,103			38,429			26,553			2,632			279,808			338,798
% of total		26.74	%		53.92	%		43.18	%		31.33	%		9.12	%		2.63	%		11.47	%		11.34	%		9.49	%		0.78	%		100,00	%		100.00	%
Net short-term notes receivable
Balance		36,848			54,493			15,980			-			-			-			-			-			3,342			2,262			56,170			56,755
% of total		65.60	%		96.01	%		28.45	%		-			-			-			-			-			5.95	%		3.99	%		100,00	%		100.00	%
Net short-term other accounts receivable
Balance		10,601			15,434			850			343			12			161			383			526			86			88			11,932			16,552
% of total		88.85	%		93.25	%		7.12	%		2.07	%		0.10	%		0.97	%		3.21	%		3.18	%		0.72	%		0.53	%		100,00	%		100.00	%
Subtotal short-term accounts receivable, net
Balance		122,264			252,613			137,645			106,480			25,534			9,075			32,486			38,955			29,981			4,982			347,910			412,105
% of total		35.14	%		61.30	%		39.56	%		25.84	%		7.34	%		2.20	%		9.34	%		9.45	%		8.62	%		1.21	%		100,00	%		100.00	%
Long-term accounts receivable, net
Balance		1,417			1,044			-			-			-			-			-			-			-			-			1,417			1,044
% of total		100.00	%		100.00	%		-			-			-			-			-			-			-			-			100,00	%		100.00	%
Total short and long-term accounts receivable, net
Balance		123,681			253,657			137,645			106,480			25,534			9,075			32,486			38,955			29,981			4,982			349,327			413,149
% of total		35.41	%		61.39	%		39.40	%		25.77	%		7.31	%		2.20	%		9.30	%		9.43	%		8.58	%		1.21	%		100,00	%		100.00	%

20

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 6 - Balances and Transactions with Related Parties

Balances with related companies are generated by commercial transactions which accrue no interest under normal conditions in force for this type of operations in respect to term and market price.

Expiration conditions for each case vary depending on the transaction which generated it.

On April 21, 2008, Inversiones SQ S.A. and SQH S.A., have acquired from Yara Netherland B.V. 49% of the shares of the privately-held company, Inversiones SQYA S.A. Beginning on the date referred to above, SQYA S.A. Yara is no longer a related company of Sociedad Química y Minera de Chile S.A.

a) Amounts included in balances with related parties as of September 30, 2009 and 2008 are as follows:

	Short-term				Long-term
	2009		2008		2009		2008
Accounts receivable	ThUS$		ThUS$		ThUS$		ThUS$
Doktor Tarsa Tarim Sanayi AS		5,810		13,908		-		-
Nutrisi Holding N.V.		1,771		1,790		-		-
Ajay Europe S.A.R.L.		2,480		2,769		-		-
Ajay North America LLC		2,208		4,505		-		-
Abu Dhabi Fertilizer Industries WWL		3,110		6,904		-		2.000
NU3 B.V.		1,009		2,677		-		-
Sales de Magnesio Ltda.		301		100		-		-
SQM Agro India		218		629		-		-
Misr Specialty Fertilizers (MSF)		122		891		-		-
Soc.Inv.Pampa Calichera S.A.		8		8		-		-
Kowa Company Ltd.		14,182		23,609		-		-
SQM East Med Turkey		767		1,199		-		-
SQM Thailand CO. LTD.		482		-		-		-
Minera Saskatchewan (PCS)		44,945		-		-		-
Callegari Agricola S.A.		285		-
Total		77,698		58,989		-		2,000

b) Amounts included in balances with related parties as of  September 30, 2009 and 2008, continued:

	Short-term
	2009		2008
Accounts payable	ThUS$		ThUS$
SQM Thailand Co. Ltd.		-		90
NU3 N.V		765		463
Total		765		553

There were no outstanding long-term accounts payable with related parties as of September 30, 2009 and 2008.

21

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 6 - Balances and Transactions with Related Parties (continued)

c)           During 2009 and 2008, principal transactions with related parties were as follows:

		Type of	Amount of				Impact on income
Company	Relationship	transaction	Transaction				(charge) credit
			2009		2008			2009		2008
			ThUS$		ThUS$			ThUS$		ThUS$
NU3 N.V. (Belgium)	Indirect	Sales of products		7,847		16,442			2,693		11,542
Doktor Tarsa Tarim Sanayi AS	Indirect	Sales of products		5,895		15,894			1,796		11,615
Abu Dhabi Fertilizer  Ind. WWL	Indirect	Sales of products		4,783		7,498			1,387		2,350
	Indirect	Income financial		54		129			54		129
Ajay Europe S.A.R.L.	Indirect	Sales of products		6,065		15,871			2,772		4,211
	Indirect	Income financial		7		7			7		7
	Indirect	Dividends		-		118			-		-
NU3 B.V.	Indirect	Sales of products		7,629		11,750			1,144		7,721
	Indirect	Services		79		83			-		83
Ajay North America  LLC	Indirect	Sales of products		8,021		24,523			3,747		7,083
	Indirect	Dividends		453		1,054			-		-
	Indirect	Sales of property, plant and equipment		20		-			20		-
Kowa Company Ltd.	Shareholder	Sales of products		42,772		82,423			17,455		37,612
	Shareholder	Services		92		-			-		-
SQM Agro India PYT Ltda.	Indirect	Sales of products		77		598			12		275
Misr Specialty	Indirect	Sales of products		-		733			-		539
	Indirect	Income financial		-		7			-		7
Nutrisi	Indirect	Income financial		-		78			-		78
SQM Eastmed Turkey	Indirect	Sales of products		-		397			-		264
SQM Thailand Co.Ltda.	Indirect	Sales of products		1,175		-			341		-
Sales de Magnesio Ltda.	Indirect	Sales of products		734		615			223		280
	Indirect	Dividends		385		491			-		-
	Indirect	Services		270		-			-		-
Minera Saskatchewan  (PCS)	Shareholder	Sales of products		44,791		-			15,837		-
	Shareholder	Service		154		-			-		-

22

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 7 - Inventories

Net inventories are summarized as follows:

	2009		2008
	ThUS$		ThUS$
Finished products		339,948		361,558
Work in process		280,153		162,695
Supplies		26,570		38,264
Total		646,671		562,517

23

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 8 - Property, Plant and Equipment

Property, plant and equipment are summarized as follows:

	2009		2008
	ThUS$		ThUS$
Land
Land		81,707		80,625
Mining Concessions		30,086		30,086
Total		111,793		110,711
Buildings and infrastructure
Buildings		176,419		151,437
Installations		388,447		315,135
Construction-in-progress		361,207		291,820
Other		233,849		210,665
Total		1,159,922		969,057
Machinery and Equipment
Machinery		603,712		545,250
Equipment		155,335		138,278
Project-in-progress		88,752		41,279
Other		40,859		20,350
Total		888,658		745,157
Other fixed assets
Tools		11,214		9,564
Furniture and office equipment		16,169		15,739
Project-in-progress		26,068		13,220
Other		13,133		9,831
Total		66,584		48,354

24

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 8 - Property, Plant and Equipment (continued)

	2009			2008
	ThUS$			ThUS$
Amounts relating to technical revaluation of fixed assets
Land		7,839			7,839
Buildings and infrastructure		41,439			41,439
Machinery and equipment		12,048			12,048
Other assets		53			53
		61,379			61,379
Total property, plant and equipment		2,288,336			1,934,658
Less: Accumulated depreciation
Buildings and infrastructure		(454,182	)		(381,430	)
Machinery and equipment		(498,266	)		(434,074	)
Other fixed assets		(31,526	)		(34,461	)
Technical appraisal		(39,954	)		(38,969	)
Total accumulated depreciation		(1,023,928	)		(888,934	)
Net property, plant and equipment		1,264,408			1,045,724
	2009			2008
Depreciation for the nine months ended September 30:	ThUS$			ThUS$
Buildings and infrastructure		(58,481	)		(43,028	)
Machinery and equipment		(49,703	)		(37,427	)
Other fixed assets		(3,550	)		(2,226	)
Technical revaluation		(694	)		(854	)
Total depreciation		(112,428	)		(83,535	)

25

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 8 - Property, Plant and Equipment (continued)

The Company has capitalized assets obtained through leasing, which are included in other fixed assets and are as follows:

	2009			2008
	ThUS$			ThUS$
Administrative office buildings		1,988			1,988
Accumulated depreciation		(576	)		(544	)
Total assets in leasing		1,412			1,444

The administrative office buildings were acquired for 230 installments of UF 663.75 each and an annual, contractually established interest rate of 8.5%.

Note 9 - Investments in and Receivables from Related Parties

a)           Information on foreign investments

Foreign subsidiaries do not have net income destined for remittance, since it is the Company’s policy to reinvest. This policy has been continuously applied.

The parent company has not entered into liabilities as hedge instruments for investments abroad.

b)           Transactions executed in 2009

On July 14, 2009, subsidiary "Comercial Agrorama Callegari Limitada" was established, with a contribution from Soquimich Comercial S.A. of ThUS$ 1,021 (70% participation).

c)           Transactions executed in 2008

On April 24, 2008, the subsidiary Agricolima S.A. was sold to Mr. Carlos Federico Valenzuela Cadena, Mr. Diego Valenzuela Cadena and Mr. Jesús Angel Morelos Montfort, creating a gain on sale of investment of ThUS$ 1,387.

d)           Investments with less than 20% participation

Investments in which the Company has less than 20% participation and the capacity to exert significant influence or control over the investment, because SQM forms part of its Board of Directors, have been valued using the equity method.

26

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a)).

Note 9 - Investments in and Receivables from Related Companies (continued)

Detail of investments in related companies

Tax		Country	Controlling	Number		Ownership				Equity of				Book value of				Net income				Equity
Number	Company	origin	Currency	shares		2009		2008		2009		2008		2009		2008		2009		2008		2009		2008
						%		%		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
0-E	Doktor Tarsa Tarim Sanayi AS	Turkey	Euros		-		50.00		50.00		18,562		20,059		9,281		10,030		1,671		10,282		835		5,141
0-E	Nutrisi Holding N.V.	Belgium	Euros		-		50.00		50.00		12,831		17,529		6,474		8,137		-2,402		7,157		-719		3,074
0-E	Abu Dhabi Fertilizer
	Industries WWL	UAE	US$		1,961		50.00		50.00		11,196		10,198		5,598		5,099		600		5,485		300		2,743
0-E	Ajay North America	USA	US$		-		49.00		49.00		13,405		11,787		5,245		4,909		1,833		1,971		898		966
0-E	Ajay Europe S.A.R.L.	France	Euros		36,700		50.00		50.00		10,308		9,671		3,574		4,302		627		826		313		413
0-E	Misr Specialty	Egypt	US$		-		47.00		47.00		4,550		4,982		2,160		2,366		-212		823		-101		391
0-E	SQM Thailand Co. Ltd.	Thailand	US$		-		40.00		40.00		3,333		3,596		1,333		1,438		131		1,077		52		431
77557430-5	Sales de Magnesio Ltda.	Chile	Pesos		-		50.00		50.00		605		729		302		364		326		510		163		255
0-E	SQM Eastmed Turkey	Turkey	Euros		-		50.00		50.00		460		111		230		56		-		-66		-		-33
0-E	Agro India Limitada	India	US$		-		49.00		49.00		130		208		64		102		-62		170		-30		83
81767200-0	Asoc. Garantizadora	Chile	Pesos		-		3.00		3.00		620		618		21		21		-		-5		-		-
Total															34,282		36,824

27

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 10 - Goodwill and Negative Goodwill

As established in Technical Bulletin No. 72, issued by the Chilean Association of Accountants, ThUS$57 en el 2009 (MUS$12 en 2008) has been adjusted to the negative goodwill account related to lawsuits with third parties paid, which as of the date of determination of negative goodwill did not meet the requirements to be treated as identifiable liabilities that could be recognized.

These relate to lawsuits with factoring companies which as of the acquisition date were identified with results favorable to our company.

Goodwill and negative goodwill and the related amortization is summarized as follows:

a)           Goodwill

		September 30, 2009				September 30, 2008
Tax Registration		Amount amortized		Goodwill		Amount amortized		Goodwill
Number	Company	during the period		Balance		during the period		balance
		ThUS$		ThUS$		ThUS$		ThUS$
96864750-4	SQM Potassium S.A.		108		1,048		108		1,193
96801610-5	Comercial Hydro S.A.		127		608		164		881
79947100-0	SQM Industrial S.A.		835		16,969		835		18,082
0-E	SQMC México S.A. de C.V.		42		683		42		738
0-E	Comercial Caiman Internacional S.A.		17		68		17		91
0-E	SQM Dubai- Fzco		76		1,605		76		1,706
0-E	Iodine  Minera B.V.		427		9,288		427		9,857
Total			1,632		30,269		1,669		32,548
b)           Negative Goodwill		September 30, 2009				September 30, 2008
				Negative				Negative
Tax Registration		Amount amortized		goodwill		Amount amortized		Goodwill
Number	Company	during the period		Balance		during the period		Balance
		ThUS$		ThUS$		ThUS$		ThUS$
78602530-3	Minera Nueva Victoria S.A.		-		1,074		-		1,279
Total			-		1,074		-		1,279

28

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 11 - Other Long-term Assets

Other long-term assets are summarized as follows:

	2009		2008
	ThUS$		ThUS$
Engine and equipment spare-parts, net                    (1)		802		3,045
Union negotiation bonus		1,569		681
Mine development costs		27,233		23,871
Income taxes recoverable		262		324
Healthcare institution guarantee in the National Healthcare Service Fonasa		322		313
Construction of Salar -Baquedano road		960		1,080
Deferred loan issuance costs                                    (2)		1,330		208
Cost of issuance and placement of bonds                (3)		10,115		4,423
Other		511		618
Total		43,104		34,563

(1) According to analyses conducted, at each year-end, this item  includes non-current warehouse spare-parts and materials. In addition, an allowance for obsolescence has been made and included in this item.

(2) Relates to the portion to be accrued of negotiation costs of long-term loans.

(3) Refer to the explanation of these expenses in Note 23.

Note 12 - Bank Debt

a)           Short-term bank debt is detailed as follows:

	2009			2008
Bank or financial institution	ThUS$			ThUS$
Banco de Crédito e Inversiones		30,000			-
BBVA Chile		30,794			-
Banco Estado		20,575			-
Banco Santander Santiago		-			20,211
HSBC Bank Chile		14,914			-
Other		3,501			2,177
Total		99,784			22,388
Annual average interest rate		3.69	%		3.84	%

29

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 12 - Bank Debt (continued)

b)           Long-term bank debt is detailed as follows:

	2009			2008
Bank or financial institution	ThUS$			ThUS$
BBVA Banco Bilbao Vizcaya Argentaria (1)		175,056			100,239
ING Capital LLC (2)		80,431			80,875
Banco Estado (3)		30,028			-
Export Development Can  (4)		50,362			-
Caja de Ahorros y Monte de Piedad Madrid (5)		40,040
Total		375,917			181,114
Less: Current portion		(100,917	)		(1,114	)
Long-term portion		275,000			180,000

(1) ThUS$ 75,000 loan, variable interest rate currently at 3.2825% per annum, quarterly payment. The principal is due on June 24, 2012.

      ThUS$ 100,000 loan, variable interest rate currently at 0.75% per annum, quarterly payment. The principal is due on February 25, 2010.

(2)U.S. dollar-denominated loan, variable interest rate currently at 1.55% per annum, semiannual payment. The principal is due on November 28, 2011.

(3) U.S. dollar-denominated loan, variable interest rate currently at 3.97% per annum, semiannual payment. The principal is due on March 23, 2011.

(4)U.S. dollar-denominated loan, variable interest rate currently at 2.6613% per annum, semiannual payment. The principal is due on December 22, 2010.

(5)U.S. dollar-denominated loan, variable interest rate currently at 2.5625% per annum, semiannual quarterly. The principal is due on September 11, 2012.

c)           The maturity of long-term debt is as follows:

	2009		2008
	ThUS$		ThUS$
Years to maturity
Current portion		100,917		1,114
1 to 2 years		80,000		100,000
2 to 3 years		195,000		80,000
Total		375,917		181,114

30

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 13 - Short and Long-term Obligations with the Public (Commercial Papers and Bonds Payable)

Additional Information

As of September 30, 2009 and 2008 ThUS$14,957 and ThUS$12,717 are presented in the short-term, respectively, corresponding to the short-term portion of principal plus interest accrued as of that date.  The amounts of ThUS$634,544 in 2009 and ThUS$299,941 in 2008 are presented in the long-term, and correspond to the principal installments of the Single Series bond and Series C, G, H, J and I bonds.

On January 25, 2006, the Company made a placement of Series C bonds for an amount of UF 3,000,000 (ThUS$102,630) at an annual rate of 4.00%.

As of September 30, 2009 and 2008 the following payments have been made with a charge to the line of Series C bonds:

	2009				2008
	UF		ThUS$		UF		ThUS$
Capital payments		75,000.00		2,787		75,000.00		3,261
Interest payments		53,470.80		1,987		56,441.40		2,454

Single series bonds

On April 5, 2006, the Company made a placement of single-series bonds for an amount of ThUS$200,000 at an annual rate of 6.125%, under the regulations contained in "Rule 144 and regulation S of the U.S. Securities Act of 1933".

As of September 30, 2009 and 2008 the following payments have been made with a charge to the single Series line of bonds:

	2009		2008
	ThUS$		ThUS$
Interest payments		6,125		6,125

31

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 13 - Short and Long-term Obligations with the Public (Commercial Papers and Bonds Payable) (continued)

Series “G” and “H” Bonds

On January 13, 2009 the Company placed two series of bonds in the Chilean market.  Series H for UF 4,000,000 (ThUS$139,216) at an annual rate of 4.9% with a 21-year term, and biannual amortization of principal beginning in 2019 and Series G for ThCh$21,000,000 (ThUS$34,146) which was placed at a 5-year term with one single amortization upon maturity at an annual interest rate of 7%.

Series "J" and "I" Bonds

———————

On May 8, 2009 the Company placed two series of bonds in the domestic market.  Series J for ThCh$52,000,000 (ThUS$92,456) was placed at a 5-year term, with single amortization upon maturity and a 5.5% annual interest rate and Series I for UF 1,500,000 (ThUS$56,051) which was placed at a 5-year term, with single amortization upon maturity and a 3.00% annual interest rate.

2. Commercial papers (promissory notes)

—————————-

On March 24, 2009 the Company issued commercial papers in the Chilean market under Series 2-A, line 46, in the amount of ThCh$ 15,000,000 (ThUS$25,875), maturing on December 15, 2009.

On April 2, 2009 commercial papers were issued in the Chilean market under Series 1-B, line 47, in the amount of ThCh$ 15,000,000 (ThUS$25,770), maturing on March 17, 2009.

32

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 13 - Short and Long-term Obligations with the Public (Promissory Notes and Bonds Payable) (continued)

No. of Registration of the Instrument	Series	Nominal Amount	Adjustment Unit	Interest Rate	Final Period	Payment of Interest	Payment of Amortization	09/30/09 ThUS$	09/30/08 ThUS$	Placement in Chile or abroad
Current portion of long-term bonds payable
446	C	150,000	UF	4.00%	12/01/2009	Semi- annual	Semi-annual	6,980	7,094	In Chile
184	A	-	US$	6.125%	10/15/2009	Semi- annual	At maturity	5,623	5,623	Abroad
564	H	-	UF	4.9%	02/05/2010	Semi- annual	At maturity	1,733	-	In Chile
563	G	-	$	7.00%	02/05/2010	Semi- annual	At maturity	621	-	In Chile
563	I	-	UF	3.00%	04/01/2010	Semi- annual	At maturity	-	-	In Chile
563	J	-	$	5.50%	04/01/2010	Semi- annual	At maturity	-	-	In Chile
Total Current Portion								14,957	12,717
Long-term bonds payable
446	C	2,475,000	UF	4.00%	12/01/2026	Semi- annual	Semi-annual	93,694	99,941	In Chile
184	A	200,000,000	US$	6.125%	04/15/2016	Semi- annual	At maturity	200,000	200,000	Abroad
563	G	21,000,000,000	$	7.00%	01/05/2014	Semi- annual	At maturity	38,157	-	In Chile
564	H	4,000,000	UF	4.9%	01/05/2030	Semi- annual	Semi-annual installments as of 2019	151,425	-	In Chile
563	I	1,500,000	UF	3.0%	04/01/2014	Semi- annual	At maturity	56,784	-	In Chile
563	J	52,000,000,000	$	5.5%	04/01/2014	Semi- annual	At maturity	94,484	-	In Chile
Total Long-term								634,544	299,941

33

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 13 - Short and Long-term Obligations with the Public (Promissory Notes and Bonds Payable) (continued)

												Book Value
Registration No. or Instrument  I.D.	Series		Indexation  Unit		Nominal Value ThCh$		Promissory note or line of credit maturity		Interest Rate			09/30/09		09/30/08		Placement in Chile or  Abroad
46		2-A		-		15,000,000		12-15-2009		3.32	%		27,068		-		-
47		1-B		-		15,000,000		03-17-2010		3.60	%		26,813		-		-
									Total				53,881		-

Note 14 - Accrued Liabilities

As of September 30, 2009 and 2008, accrued liabilities are summarized as follows:

	2009		2008
	ThUS$		ThUS$
Provision for royalties Corfo		4,546		5,155
Provision for employee compensation and legal costs		590		640
Taxes and monthly income tax installment payments		10,756		7,303
Expenses incurred for Long-term loans (additional  tax)		234		234
Vacation accrual		12,497		10,675
Marketing expenses		4,166		13,000
External auditor fees		765		338
Benefits for employees		14,236		20,062
Other accruals		4,287		3,299
Total current liabilities		52,077		60,706

34

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 15 - Income and Deferred Taxes

a)         At September 30, 2009 and 2008 the Company has the following consolidated balances for retained tax earnings, income not subject to taxes, tax loss carry-forwards and credit for shareholders:

	2009			2008
	ThUS$			ThUS$
Accumulated tax basis retained earnings with tax credit		760,717			695,380
Accumulates tax basis retained earnings without tax credit		125,149			3,954
Tax loss carry-forwards (1)		(25,386	)		13,570
Credit for shareholders		155,700			142,258

(1) Income tax losses in Chile can be carried forward indefinitely.

The Company has recognized deferred income taxes for tax losses and the related valuation allowance, where applicable, in accordance with Technical Bulletin No. 60 issued by the Chilean Association of Accountants.

35

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 15 - Income and Deferred Taxes (continued)

The deferred taxes as of September 30, 2009 and 2008 represented a net liability of ThUS$26,590 and ThUS$38,740 respectively, and consisted of:

2009	Deferred tax asset						Deferred tax liability
	Short-term			Long-term			Short-term		Long-term
	ThUS$			ThUS$			ThUS$		ThUS$
Temporary differences
Allowance for doubtful accounts		3,674			1,716			-		-
Vacation accrual		2,046			-			-		-
Unrealized gain on sale of products		71,265			-			-		-
Provision for obsolescence		-			3,153			-		-
Production expenses		-			-			37,095		-
Accelerated depreciation		-			-			-		74,428
Exploration expenses		-			-			-		5,372
Capitalized interest		-			-			-		10,656
Staff severance indemnities		-			-			-		2,467
Fair value recognition		-			2,879			-		-
Leased assets		-			26			-		-
Capitalized expenses		-			-			-		2,087
Tax loss carry-forwards		2,506			7,806			-		-
Deferred revenue		-			-			-		-
Accrued interest		241			-			-		-
Benefits for employees		-			4,689			-		-
Deferred Tax Royalty		1,120			615			3,532		4,159
Accrued Gain from Exchange Insurance		-			-			4,738		-
Other		3,651			11,425			8		809
Total gross deferred taxes		84,503			32,309			45,373		99,978
Total complementary accounts		-			-			-		(12,203	)
Valuation allowance		(5,161	)		(5,093	)		-		-
Total deferred taxes		79,342			27,216			45,373		87,775

36

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 15 - Income and Deferred Taxes (continued)

2008	Deferred tax asset						Deferred tax liability
	Short-term			Long-term			Short-term		Long-term
	ThUS$			ThUS$			ThUS$		ThUS$
Temporary differences
Allowance for doubtful accounts		1,513			1,002			-		-
Vacation accrual		1,730			-			-		-
Unrealized gain on sale of products		62,045			-			-		-
Provision for obsolescence		-			3,549			-		-
Production expenses		-			-			26,303		-
Accelerated depreciation		-			-			-		66,562
Exploration expenses		-			-			-		5,224
Capitalized interest		-			-			-		9,069
Staff severance indemnities		-			-			-		2,085
Fair value recognition		-			2,189			-		-
Leased assets		-			-			-		-
Capitalized expenses		-			-			-		852
Tax loss carry-forwards		-			4,161			-		-
Accrued gain from exchange insurance		-			-			2,393		-
Deferred revenue		-			-			-		-
Accrued interest		922			-			-		-
Benefits for employees		16			884			-		-
Other		4,629			6,940			1,785		402
Total gross deferred taxes		70,855			18,725			30,481		84,194
Total complementary accounts		-			-			-		(14,097	)
Valuation allowance		(24,109	)		(3,633	)		-		-
Total deferred taxes		46,746			15,092			30,481		70,097

37

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

 Note 15 - Income and Deferred Taxes (continued)

c) Income tax expense is summarized as follows:

	2009			2008
	ThUS$			ThUS$
Current tax expense (income tax accrual)		(63,647	)		(104,544	)
Tax expense adjustment (prior year)		(4,413	)		576
Effect of deferred tax assets and liabilities		(21,274	)		35,777
Tax benefit for tax losses		14,967			(21,424	)
Effect of amortization of complementary accounts		(1,312	)		(1,529	)
Effect on deferred tax assets and liabilities due to changes in valuation allowance		15,245			10,181
Other tax charges and credits		-			(25	)
Total income tax expense		(60,434	)		(80,988	)

38

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 16 – Long-term accrued liabilities

Long-term accrued liabilities are summarized as follows:

	2009		2008
	ThUS$		ThUS$
Staff severance indemnities (2)		28,163		20,714
Benefits for employees (1)		17,900		9,000
Site closing provision		3,437		1,992
Balance as of  September 30		49,500		31,706

(1) These provisions correspond to retention bonuses for the Company’s executives. The value of these bonuses is linked to the price of the Company’s stock and is to be paid in cash between 2010 and 2011.

(2)  Staff severance indemnities are summarized as follows:

	2009			2008
	ThUS$			ThUS$
Opening balance		22,129			20,679
Increases in obligation		3,770			4,340
Payments		(1,234	)		(1,870	)
Exchange difference		3,302			(2,435	)
Other difference		196			-
Balance As of September 30		28,163			20,714

39

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 17 - Minority Interest

Minority interest is summarized as follows:

	Equity						Net Income/(Loss)
	2009			2008			2009			2008
	ThUS$			ThUS$			ThUS$			ThUS$
Soquimich Comercial S.A.		39,075			46,641			621			(6,510	)
Ajay SQM Chile S.A.		4,248			4,108			(309	)		(482	)
SQM Nitratos México S.A. de C.V.		2			9			8			5
Fertilizantes Naturales S.A.		(59	)		627			482			(504	)
SQM Indonesia S.A.		1			(30	)		(35	)		9
Agrorama Callegari Ltda.		442			-			(6	)		-
SQM Potasio S.A.		12			8			(3	)		(3	)
Total		43,721			51,363			758			(7,485	)

40

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 18 - Shareholders’ Equity

a) Changes to shareholders’ equity consisted of:

								Accumulated deficit
								of subsidiaries in
			Paid-in		Other			development		Interim			Retained			Net
	Number		capital		Reserves			stage		Dividends			earnings			income			Total
	of shares		ThUS$		ThUS$			ThUS$		ThUS$			ThUS$			ThUS$			ThUS$
Balance as of January 1, 2008		263,196,524		477,386		163,442			-		-			361,587			180,021			1,182,436
Transfer 2007 net income to retained earnings		-		-		-			-		-			180,021			(180,021	)		-
Declared dividends 2008		-		-		-			-		-			(117,014	)		-			(117,014	)
Accumulated deficit from subsidiaries in development stage		-		-		-			-		-			-			-			-
Other comprehensive income		-		-		(347	)		-		-			-			-			(347	)
Net income for the year		-		-		-			-		-			-			381,071			381,071
Balance As of September 30, 2008		263,196,524		477,386		163,095			-		-			424,594			381,071			1,446,146
Balance January 1,2009		263,196,524		477,386		159,721			-		(100,000	)		424,594			501,407			1,463,108
Transfer 2007 net income to retained earnings		-		-		-			-		-			501,407			(501,407	)		-
Declared dividends 2009		-		-		-			-		100,000			(325,914	)		-			(225,915	)
Interim dividends		-		-		-			-					-			-
Other comprehensive income		-		-		842			-		-			-			-			842
Net income for the year		-		-		-			-		-			-			251,697			251,697
Balance as of  September 30, 2009		263,196,524		477,386		160,563			-		-			600,087			251,697			1,489,732

41

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 18 - Shareholders’ Equity (continued)

b)  In consideration of the current distribution of shares, the Company has a controlling interest Group composed of Pampa Calichera S.A. and the Kowa Group by virtue of the Joint Action Agreement subscribed on December 21, 2006.

c) Interim Dividends

At Board of Directors Meeting held on October 28, 2008 the directors agreed to distribute an interim dividend of US$0.37994 per share as of November 21, 2008 for a total amount of ThUS$ 100,000 and lower than 30% of distributable net income for commercial year 2008, accrued as of September 30, 2008. The above was charged to net income for that commercial year, payable to the shareholders of Sociedad Química y Minera de Chile S.A. registered in the respective registry on the 5th business day prior to November 21, 2008, in its equivalent in Chilean pesos based on the value of the observed dollar or US dollar published in the Official Gazette on Friday, November 14, 2008.

d) Final Dividend

The Company’s Ordinary Shareholders’ Meeting held on April 29, 2009 agreed to pay and distribute, in accordance with the respective dividends policy, an annual dividend in the amount of ThUS$325,915 equivalent to 65% of distributable net income obtained during the 2008 commercial year.  The amount of ThUS$100,000 (US$0.37994 per share) was discounted from that final dividend since it had already been paid as an interim dividend.  The balance, in the amount of ThUS$225,915 (US$0.85835 per share), was paid and distributed to the shareholders of SQM registered in the respective shareholders’ registry on the fifth business day prior to the date on which it was paid.

42

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 18 - Shareholders’ Equity (continued)

e) Other information

The detail of other reserves is as follows:

		For the nine months ended September 30, 2009		As of September 30, 2009
Detail		ThUS$		ThUS$
Technical appraisal			-		151,345
Changes to other comprehensive income from equity method investments:
Soquimich Comercial S.A.	(1)		693		13,980
Comercial Hydro S.A.	(1)		-		(725	)
SQMC Internacional Ltda.	(1)		-		(35	)
Proinsa Ltda.	(1)		-		(26	)
Isapre Norte Grande Ltda.	(1)		37		7
Inversiones Augusta S.A.	(1)		-		(761	)
SQM Ecuador S.A.	(2)		-		(270	)
Almacenes y Depósitos Ltda.	(1)		43		130
Asociación Garantizadora de Pensiones	(1)		3		(20	)
Sales de Magnesio Ltda.	(1)		51		61
Sociedad de Servicios de Salud S.A.	(1)		15		29
SQM North America Corp.	(3)		-		(4,186	)
SQM Dubai Fzco.	(1)		-		(12	)
Ajay Europe SARL	(1)		-		343
Other Companies	(1)		-		717
Total other comprehensive income			842		160,563

(1) Corresponds to translation adjustments and monetary correction.

(2) Corresponds to the translation adjustment produced by the application of a new law implemented by the Ecuadorian Government.

(3) Corresponds to a change in the valuation of the Companys under-funded pension plan.

Capital consists of 263,196,524 fully authorized, subscribed and paid shares with no par value, divided into 142,819,552 Series A shares and 120,376,972 Series B shares.

The preferential voting rights of each series are as follows:

43

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 18 - Shareholders’ Equity (continued)

Series A : If the election of the president of the Company results in a tied vote, the Company's directors may vote once again, without the vote of the director elected by the Series B shareholders.

Series B: 1)A general or extraordinary shareholders' meeting may be called at the request of shareholders representing 5% of the Company's Series B shares.

2)An extraordinary meeting of the Board of Directors may be called with or without the agreement of the Company's president, at the request of a director elected by Series B shareholders.

Note 19 – Derivative Instruments

Derivative instruments are recorded at their fair value at the close of the period.  Changes in fair value are recognized in income with the liability recorded in other current liabilities.  Losses from options relate to fees paid by the Company to enter into such contracts. As of September 30, 2009 the Company’s derivative instruments are as follows:

2009	Notional or			Description of the				Income			Income
Type of Derivative	covered amount		Expiration	contract type	Position purchase/sale	(Liability)Asset amount		(realized) recorded			(not realized) recorded
	ThUS$					ThUS$		ThUS$			ThUS$
Swap		89.802	4th Quarter of 2026	Exchange rate	P		13,430		9,109			4,321
Swap		33,673	1st Quarter of 2014	Exchange rate	P		4,833		4,676			158
Swap		42,822	1st Quarter of 2013	Exchange rate	P		5,633		4,430			1,203
Swap		43,116	1st Quarter of 2013	Exchange rate	P		5,448		4,143			1,305
Swap		46,220	1st Quarter of 2014	Exchange rate	P		905		1,022			(1,927	)
Swap		46,220	1st Quarter of 2014	Exchange rate	P		896		1,022			(1,918	)
Swap		56,041	1st Quarter of 2014	Exchange rate	P		967		744			223
US dollar Forward		3,000	4th Quarter of 2009	Exchange rate	S		39		39			-
US dollar Forward		6,000	4th Quarter of 2009	Exchange rate	S		3		3			-
US dollar Forward		7,000	4th Quarter of 2009	Exchange rate	S		43		(43	)		-
US dollar Forward		4,000	4th Quarter of 2009	Exchange rate	S		45		45			-
US dollar Forward		25,349	4th Quarter of 2009	Exchange rate	S		1,906		1,906			-
US dollar Forward		6,944	1st Quarter of 2010	Exchange rate	S		142		142			-
US dollar Forward		2,870	1st Quarter of 2010	Exchange rate	S		37		37			-
US dollar Forward		16,918	1st Quarter of 2010	Exchange rate	S		343		343			-
European Option		7,270	4th Quarter of 2009	Exchange rate	P		61		(61	)		-
European Option		7,400	4th Quarter of 2009	Exchange rate	P		-		-			-

44

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 19 – Derivative Instruments (continued)

2009	Notional or			Description of				Income			Income
Type of Derivative	covered amount		Expiration	the contract type	Position purchase/sale	(Liability)Asset amount		(realized) recorded			(not realized) recorded
	ThUS$					ThUS$		ThUS$			ThUS$
European Option		4,415	4th Quarter of 2009	Exchange rate	P		-		-			-
European Option		6,671	4th Quarter of 2009	Exchange rate	P		-		-			-
European Option		7,309	4th Quarter of 2009	Exchange rate	P		12		(12	)		-
European Option		6,629	4th Quarter of 2009	Exchange rate	P		-		-			-
European Option		6,536	4th Quarter of 2009	Exchange rate	P		11		(11	)		-
European Option		3,384	4th Quarter of 2009	Exchange rate	P		273		(273	)		-
European Option		3,769	4th Quarter of 2009	Exchange rate	P		48		(48	)		-
European Option		2,877	4th Quarter of 2009	Exchange rate	P		11		(11	)		-
US dollar Forward		6,879	2nd Quarter of 2010	Exchange rate	P		312		(312	)		-
European Option		57,477	1st Quarter of 2010	Exchange rate	P		-		-			-
European Option		59,352	1st Quarter of 2010	Exchange rate	P		1,107		(1,107	)		-
European Option		61,446	1st Quarter of 2010	Exchange rate	P		-		-			-
US dollar Forward		10,011	4th Quarter of 2009	Exchange rate	P		93		93			-
US dollar Forward		10,091	4th Quarter of 2009	Exchange rate	P		98		98			-
US dollar Forward		10,024	4th Quarter of 2009	Exchange rate	P		107		107			-
US dollar Forward		10,035	4th Quarter of 2009	Exchange rate	P		17		17			-
US dollar Forward		5,025	4th Quarter of 2009	Exchange rate	P		71		71			-
US dollar Forward		5,018	4th Quarter of 2009	Exchange rate	P		9		9			-
US dollar Forward		10,032	4th Quarter of 2009	Exchange rate	P		113		113			-
US dollar Forward		10,112	4th Quarter of 2009	Exchange rate	P		123		123			-
US dollar Forward		5,019	4th Quarter of 2009	Exchange rate	P		-		-			-
US dollar Forward		5,019	4th Quarter of 2009	Exchange rate	P		-		-			-
US dollar Forward		10,039	4th Quarter of 2009	Exchange rate	P		1		1			-
US dollar Forward		10,111	4th Quarter of 2009	Exchange rate	P		15		(15	)		-
US dollar Forward		10,058	4th Quarter of 2009	Exchange rate	P		76		(76	)		-
US dollar Forward		15,137	4th Quarter of 2009	Exchange rate	P		22		22			-
US dollar Forward		8,550	4th Quarter of 2009	Exchange rate	P		7		7			-
US dollar Forward		10,056	4th Quarter of 2009	Exchange rate	P		33		33			-
US dollar Forward		10,064	4th Quarter of 2009	Exchange rate	P		131		131			-
US dollar Forward		10,054	4th Quarter of 2009	Exchange rate	P		19		19			-
US dollar Forward		5,040	4th Quarter of 2009	Exchange rate	P		77		77			-
US dollar Forward		10,085	4th Quarter of 2009	Exchange rate	P		159		159			-
US dollar Forward		10,044	4th Quarter of 2009	Exchange rate	P		39		39			-
US dollar Forward		20,087	4th Quarter of 2009	Exchange rate	P		78		78			-
US dollar Forward		5,100	4th Quarter of 2009	Exchange rate	P		41		-			(41	)
US dollar Forward		17,400	4th Quarter of 2009	Exchange rate	P		104		104			-
US dollar Forward		11,300	4th Quarter of 2009	Exchange rate	P		17		(17	)		-
US dollar Forward		10,400	2nd Quarter of 2010	Exchange rate	P		30		30			-
US dollar Forward		500	3rd Quarter of 2009	Exchange rate	P		-1		-1			-

45

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 20 - Non-Operating Income and Expenses

Amounts included in non-operating income and expenses are summarized as follows:

           a)Non-operating income

	2009		2008
	ThUS$		ThUS$
Recovery of doubtful accounts		45		475
Insurance recoveries		208		474
Reversal of obligations with third parties		620		2,068
Gain from sale of assets SQM Lithium		-		2,342
Gain on sale of investments in related companies		-		1,387
Sale of mining concessions		2,121		721
Provision of services		78		121
Rental of property, plant and equipment		769		851
Fines collected from third parties		73		46
Discounts obtained		798		484
Compensation received		60		213
Sale of property, plant and equipment		486		1,146
Other income		955		1,749
Total		6,213		12,077

           b)Non-operating expenses

	2009		2008
	ThUS$		ThUS$
Investment plan expenses and adjustment of property, plant and equipment realization value		7,982		14,678
Interest expense		-		-
Equity participation in net losses of unconsolidated subsidiaries		-		-
Amortization of goodwill		-		-
Net foreign exchange losses		-		-
Work disruption expenses		283		776
Non-recoverable taxes		-		-
Indemnity to suppliers		1,745		177
Accrual for loss in auction		-		-
Provision for legal expenses and  third party compensation		451		435
Training and donation expenses		841		1,845
Amortization of information		-		-
Insurance claim		-		-
Consulting services		-		-
Other expenses		4,008		2,508
Total		15,310		20,419

46

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 21 – Price-level Restatement

Amounts charged or credited to income relating to price-level restatement are summarized as follows:

	(Charge) credit to income from operations
	2009			2008
	ThUS$			ThUS$
Property, plant and equipment		(8	)		28
Other assets and liabilities		(12	)		13
Shareholders’ equity		196			(490	)
Net price-level restatement		176			(449	)

47

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 22 – Assets and Liabilities Denominated in Foreign Currency

	2009		2008
	ThUS$		ThUS$
Assets
Chilean pesos		385,858		151,372
US dollars		2,512,631		2,111,783
Euros		66,877		86,568
Japanese Yen		1,225		1,232
Brazilian Real		333		371
Mexican pesos		3,235		1,088
UF		63,484		31,460
South African Rand		23,901		23,303
Dirhams		14,786		21,492
Other currencies		14,956		16,446
Current liabilities
Chilean pesos		152,269		161,693
US dollars		310,878		180,762
Euros		55,309		13,818
Japanese Yen		26		23
Brazilian Real		1,819		1,682
Mexican pesos		582		3,347
UF		9,507		13,372
South African Rand		2,344		3,243
Dirhams		1,190		1,120
Other currencies		63		1,379
Long-term liabilities
Chilean pesos		159,246		20,016
US dollars		557,763		445,987
Japanese Yen		278		206
UF		302,145		100,456
Mexican pesos		403		491
Other currencies		10		11

48

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 23 – Expenses Incurred in the Issuance Shares and Debt Titles

Bond issuance and placement expenses are presented in Other Long-term Assets.  The portion to be amortized within a year is shown in Other Current Assets, amortized using the straight-line method, over the term of the documents.  That amortization is presented as a financial expense.

As of September 30, 2009 and 2008 the detail is as follows:

	Other Assets				Amortization
	Short term 2009		Long term 2009		2009		2008
	ThUS$		ThUS$		ThUS$		ThUS$
Single-series Placement Expenses		293		1,610		220		220
Series C Placement Expenses		281		2,240		221		234
Series G Placement Expenses		136		443		102
Series H Placement Expenses		133		2,671		104
Series J Placement Expenses		552		1,933		276
Series I Placement Expenses		348		1,218		174
Total		1,743		10,115		1,097		454

Note 24 - Cash Flow Statement

Amounts included in other investing income are summarized as follows:

	2009		2008
	ThUS$		ThUS$
Sale of mining concessions		2,121		-
Total		2,121		-

49

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 25 – Commitments and Contingencies

I.         Contingencies:

(a)  Material lawsuits or other legal actions of which the Company is party to:

1.	Plaintiff	: Compañía  Salitre y Yodo Soledad S.A.
	Defendant	: Sociedad Química y Minera de Chile S.A.
	Date of lawsuit	: December 1994
	Court	: Civil Court of Pozo Almonte
	Cause	: Partial annulment of mining property, Cesard 1 to 29
	Instance	: Evidence provided
	Nominal amount	: ThUS$ 211
2.	Plaintiff	: Compañía  Productora de Yodo y Sales S.A.
	Defendant	: SQM S.A.
	Date of lawsuit	: November 1999
	Court	: Civil Court of Pozo Almonte
	Cause	: Partial annulment of mining property, Paz II 1 to 25
	Instance	: Evidence provided
	Nominal amount	: ThUS$ 162
3.	Plaintiff	: Compañía  Productora de Yodo y Sales S.A.
	Defendant	: SQM S.A.
	Date of lawsuit	: November 1999
	Court	: Civil Court of Pozo Almonte
	Cause	: Partial annulment of mining property, Paz III 1 to 25
	Instance	: Evidence provided
	Nominal amount	: ThUS$ 204
4.	Plaintiff	: Angélica Allende and her sons Iván Molina and Cristóbal Molina
	Defendant	: Ingeniería, Construcción y Servicios SMR Limitada and, subsidiarily, SQM Nitratos S.A. and its insurance companies
	Date of lawsuit	: May 2008
	Court	: Labor Court of Antofagasta
	Cause	: Work accident
	Instance	: Suit being answered
	Nominal amount	: ThUS$ 670
5.	Plaintiff	: Nancy Erika Urra Muñoz
	Defendant	: Fresia Flores Zamorano, Duratec-Vinilit S.A. and SQM S.A. and   its insurance companies.
	Date of lawsuit	: December 2008
	Court	: 1st Civil Court of Santiago
	Cause	: Work accident
	Instance	: Response.
	Nominal amount	: ThUS$ 550

50

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 25 – Commitments and Contingencies (continued)

6.	Plaintiff	: Agraria Santa Aldina Limitada
	Defendant	: SQM Perú S.A.
	Date of lawsuit	: June 2009
	Court	: Civil Court of Pisco - Peru
	Cause	: Damage indemnity lawsuit for alleged non-compliance with the terms of the product distribution agreement
	Instance	: Response
	Nominal amount	: ThUS$6,000

II. SQM S.A. and its subsidiaries have been participating and probably will continue to participate habitually as plaintiffs or defendants in certain judicial proceedings that have been and will be filed and are subject to the decisions of the Ordinary Courts of Justice. Those proceedings, which are regulated by the applicable legal provision, mainly seek to exercise or oppose certain actions or exceptions related to certain mining concessions constituted or in the process of being constituted and do not and will not essentially affect the development of  SQM S.A. and its subsidiaries.

III. Soquimich Comercial S.A. has been participating and probably will continue to participate habitually as a plaintiff in certain judicial proceedings through which it seeks mainly to collect and receive the amounts owed to it in the total approximate amount of ThUS $ 900.

IV. SQM S.A. and its subsidiaries have tried and currently continue to try to obtain payment of certain amounts still owed to them for their regular activities. Those amounts will continue to be judicially and non-judicially demanded by the plaintiffs and the actions exercised in relation to them are currently in full force.

V. SQM S.A. and its subsidiaries have not been legally notified of other complaints other than those mentioned in paragraph I above and which pursue the voidance of certain mining properties purchased by SQM S.A. and its subsidiaries and whose proportional purchase price, in respect to the part affected by the respective overlap, exceeds the nominal and approximate amount of ThUS$150 or which seek to obtain payment of certain amounts allegedly owed from exercising their own activities and which exceed the nominal individual amount of approximately ThUS$150.

51

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 25 – Commitments and Contingencies (continued)

b) Restrictions:

The bank loans of SQM S.A. and its subsidiaries contain restrictions similar to those of loans of the same nature that have been in force from time to time and which, among others, are related to maximum debt and minimum shareholders’ equity. Except for the above, SQM S.A. is not exposed to other restrictions in its management or to financial indicator limits by contracts or covenants with creditors.

c) Commitments:

Subsidiary SQM Salar S.A. has signed a rental contract with CORFO which establishes that such subsidiary, will pay to CORFO, for the exploitation of certain mining properties owned by CORFO and for the products resulting from such exploitation, the annual rent stated in the aforementioned contract, the amount of which is calculated on the basis of the sales of each type of product. The contract is in force until 2030 and rent began being paid in 1996 reflecting in income a value of ThUS$ 14,077 in 2009 (ThUS$ 12,349 in 2008).

II. Indirect Guarantees

The guarantees that do not have a pending payment balance reflect, indirectly that the respective guarantees are in force and approved by the Company’s Board of Directors and that they have not been used by the corresponding subsidiary.

Note 26 – Third Party Guarantees

As of September 30, 2009 and 2008 the Company has the following indirect guarantees outstanding:

	Debtor		Balances outstanding
Beneficiary	Name	Relationship	2009		2008
			ThUS$		ThUS$
BBVA Banco Bilbao Vizcaya Argentaria	Royal Seed Trading Corp.  A.V.V.	Subsidiary		175,056		100,239
ING Capital LLC	Royal Seed Trading Corp.  A.V.V.	Subsidiary		80,431		80,875
Export Development Canada.	SQM Investment Corpotation N.V.	Subsidiary		50,362		-

52

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 27 – Sureties Obtained from Third Parties

The main solidary pledges provided to guarantee to Soquimich Comercial S.A. fulfillment of the obligations in the commercial mandate agreements for distribution and sale of fertilizers are as follows:

Company Name	ThUS$
Llanos y Wammes Soc. Com. Ltda.		1,943
Fertglobal Chile Ltda. y Bramelli		3,197
Tattersall S.A.		1,082

Note 28 - Sanctions

During 2009 and 2008, the SVS did not apply sanctions to the Company, its directors or managers.

Note 29 – Subsequent Events

Management is not aware of other significant events, occurred between September 30, 2009 and the date of issuance of these Consolidated Financial Statements (October 27, 2009), which could significantly affect them.

Note 30 – Environmental Projects

The Company is continuously concerned with protecting the environment both in its production processes and with respect to products manufactured. This commitment is supported by its principles indicated in its Sustainable Development Policy.

SQM is currently operating under an Environmental Management System (EMS) bases in the ISO 14000 standard, which has allowed strengthening its environmental performance through the effective application of the Company’s Sustainable Development Policy.

Disbursements made by the Company and its subsidiaries As of September 30, 2009 related to investments in production processes, verification and control of compliance with ordinances and laws relative to industrial processes and facilities amount to ThUS$ 6,830 and are detailed as follows:

53

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 30 – Environmental Projects (continued)

			Future
	2009		Disbursements
	ThUS$		ThUS$
Projects
Enablement of money exchange and bathrooms		993		780
Environmental evaluation		441		288
Handling of household and industrial waste		963		189
Hazardous substance management		443		553
Salar (Salt deposit) environmental follow-up plan		361		143
Environmental studies		1,710		260
Improvements in M. Elena – Streets camp		373		333
Sanitary regulations PV Traffic Facilities		-		98
Environmental remediation		777		422
Environmental Management		* 769		**509
Total		6,830		3,575

(*) Corresponds to the 2008 Budget

(**)Corresponds to the 2009 Budget

54

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 30 – Environmental Projects (continued)

Operations which use caliche as raw material are developed desert geographical areas with climatic conditions favorable for drying solids and evaporating liquids using solar energy. Operations for the open-pit extraction of minerals, due to their low waste to mineral ratio, generate remaining deposits which slightly alter the environment. During the extraction process and subsequent crushing of ore, particle emissions occur, which is normal for this type of operations.

On August 10, 1993, the Ministry of Health published a resolution under the Sanitary Code that established that the levels of breathable particles present at Maria Elena Plant exceeded the level allowed for air quality and, consequently, affected the nearby city of Maria Elena. These particles mainly come from dust that results from caliche processing, particularly during the crushing processes prior to leaching. Within the framework of a decontamination plan for this city and in accordance with its Sustainable Development Policy, the Company has implemented a series of measures that have shown notable improvement in air quality at María Elena. In October 2005, the company obtained approval from environmental authorities for a project entitled “Technological Change at María Elena”. The operation of this project allows reduction of the particulate material emissions required by environmental regulations.  The project is in operation as of January 2009.  The old María Elena crushing plant was finally put out of service as of July 5, 2008, with the consequent improvement in air quality.  The effectiveness of this project in respect to the improvement in air quality will be able to be evaluated upon completion of three years of operation, which is what the standard for MP10 requires.

In addition, for all its operations, the Company carries out environmental follow-up and monitoring plans based on specialized scientific studies, and it also provides an annual training program in environmental matters to both its direct employees and for contractors’ employees. Within this context, SQM entered into a contract with the National Forestry Corporation (CONAF) aimed at researching the activities of flamingo groups that live in the Salar de Atacama lagoons. Such research includes a population count of the birds, as well as breeding research. Environmental monitoring activities carried out by the Company at the Salar de Atacama and other systems in which it operates are supported by a number of studies that have integrated diverse scientific efforts from prestigious research centers, including Dictuc from Pontificia Universidad Católica and the School of Agricultural Science of Universidad de Chile.

Furthermore, the Company is performing significant activities for the recording of Pre-Columbian and historical heritage, as well as the protection of heritage sites, in accordance with current Chilean laws. These activities have been especially performed in the areas surrounding María Elena and the Nueva Victoria plant. This effort is being accompanied by cultural initiatives within the community and the organization of exhibits in local and regional museums.

As emphasized in its Sustainable Development Policy, the Company strives for maintaining positive relationships with the surrounding community, as well as to participate in community development by supporting joint projects and activities which help to improve the quality of life for residents. For this purpose, the Company has focused its efforts on activities involving the rescue of historical heritage, education and culture, and development, and in order to do so, its acts both individually and in conjunction with both private and public entities.

55

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 31 – Significant Events

1.-On January 13, 2009 the Superintendency of Securities and Insurance was informed that Sociedad Química y Minera de Chile S.A. has successfully placed two series of bonds in the domestic market.  The first for ThUF 4,000 was placed with a term of 21 years, with amortization of principal starting in 2019 and at an annual interest rate of UF plus 5.05%.  The second, for ThCh$ 21,000, was placed with a term of 5 years, with a single amortization upon expiry of that term and an annual interest rate of 7.5% in nominal pesos.

The resources obtained of close to ThUS$ 173,000, will be used by SQM to finance their investment plan and refinance certain liabilities.

2.- On April 6, 2009, the Superintendency of Securities and Insurance was informed that the Board of Directors of Sociedad Química y Minera de Chile (SQM), at the meeting held on April 6 of this year unanimously agreed to recommend payment of a final dividend of US$1.23829 per share at the next Ordinary Shareholders’ Meeting out of distributable net income obtained during the 2008 commercial year.  The amount of US$0.37994 which was already paid as an interim dividend must be discounted and the balance in the amount of US$0.85835 per share, will be paid and distributed to the shareholders of SQM that are registered in the respective registry on the fifth business day prior to the date on which it will be paid.

That proposal, once approved by the next Ordinary Shareholder’s Meeting of the Company which will be held on April 29, 2009, will allow it to effectively pay and distribute, in accordance with the respective dividends policy, an annual dividend equivalent to 65% of distributable net income obtained during the 2008 commercial year.

3.- On April 30, 2009, the Superintendency of Securities and Insurance was informed that the Board of Directors of Sociedad Química y Minera de Chile  (SQM), at a meeting held on April 28 of this year agreed to authorize the signing of a supply agreement in virtue of which SQM Salar S.A., subsidiary of Sociedad Química y Minera de Chile (SQM), will sell to PCS Sales (USA) Inc., subsidiary of Potash Corporation of Saskatchewan Inc., majority shareholder of SQM, an approximate amount of between 150 thousand and 250 thousand annual tons of potassium chloride to be commercialized by PCS in Japan, India and the People’s Republic of China, for the period from May 1, 2009 to May 1, 2012 and under similar terms and conditions to those prevailing in the market at the relevant moment.

4.- On May 8, 2009, the Superintendency of Securities and Insurance was informed that on May 8, 2009, Sociedad Química y Minera de Chile S.A.(SQM) has successfully placed two series of bonds in the Chilean market.  Series I was placed in the amount of UF 1,500,000 for a 5-year term, with single amortization at maturity and a 3.67% annual interest rate.  Series J was placed in the amount of Th$52,000,000 for a 5-year term, also with single amortization at maturity and a 6.14% annual interest rate in nominal pesos.

The funds obtained with this issuance, of close to ThUS$148,000, will be used by SQM to refinance the company’s short and long-term liabilities and its investment plan.

5.- On July 15, 2009, the Board of Directors of Soquimich Comercial S.A. (SQMC) met in an extraordinary meeting held on July 14, 2009 and agreed to concur in the formation of a subsidiary in which SQMC will have a 70% participation and closely held corporation Callegari Agrícola S.A. will have a 30% participation.

This new company, which will be called "Comercial Agrorama Callegari Limitada", and which will have the synthetic name of "Agrorama Callegari Ltda." will have capital of Ch$800 million and its main line of business will be commercialization and distribution of fertilizers, pesticides and agricultural products or supplies.  The duration of this new subsidiary of SQMC will be 5 years as of July 14, 2009, with tacit and automatic renewal for 5-year periods

56

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 32 – Unearned Income

During the periods ended September 30, 2009 and 2008, the Company maintains unearned income

related to the recognition of sales invoices the delivery of which will occur subsequent to the close of the financial statements.  The detail is as follows:

	2009		2008
	ThUS$		ThUS$
Unearned income		30,780		55,873

57

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 33 – Time Deposits

Bank of the Investment	Kind of Deposit	Currency of Origin	Interest  Rate	Investment Date	Expiration Date	Capital in ThUS$	Accrued Interest in ThUS$	Balance Present Year in ThUS$	Balance Previous Year in ThUS$
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.06%	08-12-2009	11-10-2009	9,915	10	9,925	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.06%	09-01-2009	11-02-2009	10,114	6	10,120	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.06%	09-03-2009	11-04-2009	10,121	5	10,126	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.06%	09-04-2009	11-05-2009	15,094	7	15,101	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.06%	09-04-2009	11-06-2009	8,533	5	8,538	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.06%	09-17-2009	10-13-2009	9,912	2	9,914	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.06%	09-17-2009	10-22-2009	9,912	2	9,914	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.09%	09-30-2009	12-29-2009	20,009	-	20,009	-
Banco Crédito e Inversiones	Fixed Term	Chilean Pesos	0.09%	09-30-2009	12-29-2009	10,004	-	10,004	28,267
Banco de Chile	Fixed Term	Chilean Pesos	0.06%	08-10-2009	10-09-2009	9,981	10	9,991	19,246
Banco de Chile	Fixed Term	Chilean Pesos	0.06%	09-08-2009	11-09-2009	10,011	4	10,015	10,010
Banco de Chile	Fixed Term	Chilean Pesos	0.06%	09-10-2009	11-11-2009	10,023	4	10,027	-
Banco de Chile	Fixed Term	Chilean Pesos	0.07%	09-15-2009	10-30-2009	20,055	7	20,062	-
Banco Santander –  Santiago	Fixed Term	Chilean Pesos	0.05%	08-25-2009	10-26-2009	9,979	6	9,985	-
Banco Santander –  Santiago	Fixed Term	Chilean Pesos	0.05%	09-08-2009	10-19-2009	10,011	4	10,015	-
Banco Santander –  Santiago	Fixed Term	Chilean Pesos	0.05%	09-08-2009	10-20-2009	5,005	2	5,007	-
Banco Santander –  Santiago	Fixed Term	UF	2.85%	08-24-2009	11-23-2009	29,914	88	30,002	-
BBVA Banco Bilbao Vizcaya Argentaria	Fixed Term	Chilean Pesos	0.04%	09-17-2009	10-02-2009	9,916	2	9,918	-
Corpbanca	Fixed Term	Chilean Pesos	0.07%	08-21-2009	10-20-2009	4,947	5	4,952	-

58

SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.

Notes to the Consolidated Financial Statements

(A translation of the original in Spanish- see note 2 (a))

Note 33 – Time Deposits (continued)

Bank of the Investment	Kind of Deposit	Currency of Origin	Interest  Rate	Investment Date	Expiration Date	Capital in ThUS$	Accrued Interest in ThUS$	Balance Present Year in ThUS$	Balance Previous Year in ThUS$
Corpbanca	Fixed Term	Chilean Pesos	0.08%	08-21-2009	11-19-2009	4,952	5	4,957	-
Corpbanca	Fixed Term	Chilean Pesos	0.08%	08-24-2009	11-23-2009	30,060	30	30,090	-
Corpbanca	Fixed Term	Chilean Pesos	0.08%	08-25-2009	11-24-2009	9,902	10	9,912	-
Citibank N.A.	Overnight	US dollar	0.08%	09-30-2009	10-01-2009	2,158	-	2,158	1,012
Banco Itau	-	-	-	-	-	-	-	-	8,206
Deutsche Bank Chile S.A.	-	-	-	-	-	-	-	-	5,006
HSBC Bank Chile	-	-	-	-	-	-	-	-	5,006
Fortis Bank	-	-	-	-	-	-	-	-	630
Bancomer	-	-	-	-	-	-	-	-	294
BBVA Banco Bilbao Vizcaya Argentaria	-	-	-	-	-	-	-	-	86
						270,528	214	270,742	77,763

59

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.

Conf:	/s/ Ricardo Ramos R.
Ricardo Ramos R.
Chief Financial Officer

Date: December 8, 2009

60