SQM: Q1 Earnings Snapshot
SANTIAGO CHILE, Chile — SANTIAGO CHILE, Chile — Sociedad Quimica y Minera de Chile SA (SQM) on Wednesday reported profit of $137.5 million in its first quarter.
On a per-share basis, the Santiago Chile, Chile-based company said it had profit of 48 cents.
The chemicals company posted revenue of $1.04 billion in the period.
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National Science Foundation defunds long-stalled controversial Thirty Meter Telescope
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The TMT was first proposed in the early 2000s as one of the most ambitious astronomy projects ever attempted, featuring a 30-meter segmented mirror nearly three times the size of any currently in operation. It is led by a consortium of U.S. and international scientific institutions, with the University of Hawaii serving as the local site partner. Many Native Hawaiians consider Mauna Kea the most sacred place in the islands, often describing it as a spiritual and ancestral homeland, and believe that constructing the telescope would further desecrate the mountain, which is already home to roughly a dozen observatories. TMT has faced repeated delays and soaring costs—from an initial estimate of $1.4 billion to $3 billion—alongside intense protests that halted construction in 2019 and sparked broader conversations about Indigenous rights, land stewardship and the role of science in Hawaii. Despite those challenges, the TMT collaboration has long hoped to secure NSF funding to move the project forward. But the NSF's new budget request makes clear that continued financial support for both telescopes is 'unaffordable, ' and that only the Chile project has 'assurances ' of completing its design phase without further investment. Even for GMT, the path ahead is not guaranteed. NSF emphasized that advancing to the final design phase 'does not obligate the agency to provide any further funding ' or approve construction. Nonetheless, the decision leaves TMT's future far in doubt, especially without a clear backup site and persistent community opposition. Native Hawaiian activist Hea lani Sonoda-Pale described the funding decision as a rare and important win for Native Hawaiians, especially the 'protectors ' who filed formal comments and advocacy letters aimed at influencing NSF decisions. Still, Sonoda-Pale said she doubts that Native Hawaiian concerns played a meaningful role in the Trump administration's decision-making, suggesting the NSF funding cut for TMT was more likely the result of broader budget priorities than a conscious effort to support Native Hawaiian interests. 'I don't think the Kanaka Maoli are on his radar, ' she said. 'It just so happens the stars aligned and this was a win for Hawaiians … . This decision will empower Kanaka Maoli to keep moving forward and remain vigilant to protect Mauna Kea and all sacred places in Hawaii.' Gov. Josh Green and University of Hawaii officials deferred comment on the funding cuts to the Maunakea Stewardship and Oversight Authority, whose leaders were not immediately available to respond to the development. 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He fears the mountain's stewardship will stagnate and critical revenues that could support Native Hawaiian immersion and charter schools and homestead programs will be lost. Alameda noted the ripple effect on the island's economy and the Native Hawaiian community in particular. Construction and operation of TMT represent decades of union jobs for carpenters, electricians, iron workers and laborers, he said. He also questioned the political logic behind shifting federal astronomy funding from Hawaii to the GMT under construction in Chile. 'Chile is a different country, right ? Trump's all about making America great again, ' Alameda said. He stressed that many Native Hawaiians may not fully grasp how defunding the TMT would be felt across Native Hawaiian programs and institutions relying on that revenue. 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I've always had such a difficult time just talking about this in general because I really do see both sides and connect with both sides.' He cited cultural insensitivity and past mismanagement of Mauna Kea, saying UH had 'handled things poorly ' by not adequately listening to Native Hawaiians before responsibility for the mountain was transferred to the Maunakea Stewardship and Oversight Authority, which was established in 2022. But Lee also warned that the defunding of TMT could have serious consequences for Hawaii's economy and educational system, both of which depend heavily on support from scientific and research funding sources. He cautioned against oversimplifying the apparent defunding of TMT as merely a political win for Native Hawaiians. While acknowledging the widespread belief that the move aligns with opposition to the telescope, Lee stressed that it is more accurately a reflection of broader policy decisions undermining scientific research. 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