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Salt peter typically refers to the chemical compound potassium nitrate, though it may also refer to sodium nitrate. Salt peter was once collected from decomposing material, but today, it is generally manufactured by treating sodium nitrate, mostly mined in Chile, with potassium chloride and collecting the precipitate.
Image Credit: Main Image: Saltpetre or Saltpeter is chemically known as Potassium nitrate. It is a white crystalline powder that is soluble in water and is not combustible but aids in combustion of materials which can lead to explosions under prolonged heat conditions leading to toxic fumes.otassium Nitrate has numerous uses, 1  Fertilizer: Commonly used as a fertilizer as it provides the plants with both vital nutrients, potassium and nitrogen. 2  Oxidizer: As it is a good oxidizing agent it is use din gunpowder and fireworks.