Bloomberg reports that Sociedad Quimica y Minera de Chile SA (SCL:SQM-B) announced fourth-quarter profit due to higher potash prices.
The market news is quoted as saying:
Soquimich sold potash at an average of $390 per ton in 2010 and may sell it at an average of at least $420 per ton this year, Guerrero said. Fourth quarter revenue advanced 31 percent to $505.7 million from a year earlier, the company said in a statement. For 2010, net income rose to $382.1 million from $338.3 million a year earlier and sales gained 27 percent to $1.83 billion.