State and federal ministers have praised Kerry Stokes-backed BCI Minerals, after the Mardie salt project developer drew down the first tranche of a $981 million debt facility.
BCI Minerals' cumulative expenditure rose from $788 million to $898 million during the December 2024 quarter, as construction of its Mardie salt and potash project continues.
Kerry Stokes-backed BCI Minerals has secured backing for a $981 million financing and signed with Chinese chemical company Befar to supply salt from its $1.4 billion Mardie project.
Kerry Stokes-backed BCI Minerals has received environmental approval from the federal government at its Mardie salt and potash project, located 80km south of Karratha.
BCI Minerals says it has received a series of mining lease approvals necessary to finalising its Mardie salt project, as it works to get the $1.6 billion dollar project off the ground this year.
BCI Minerals has secured a syndicated facility agreement for its Mardie salt project near Karratha, with nearly $1 billion locked in for the under-construction asset.
BCI Minerals has secured a $150 million loan from two commercial banks to fund its Mardie salt project after notching the bulk of the funding support from the federal government last month.
A company owned by the Indonesian government is evaluating a $100 million equity investment in BCI Minerals after signing a non-binding offtake agreement.
BCI Minerals has signed an offtake deal with Japanese investment firm Itochu Corporation to supply salt from its flagship Mardie project, which is facing a $700 million cost creep.
Salt and potash developer BCI Minerals has budgeted up to $1.6 billion for the Mardie development following a sweeping review of the flagship's costs, which are in all about $700 million more than planned.
BCI Minerals has confirmed it will need additional money to complete its $1 billion-plus Mardie project after revealing key contracts had blown out by 45 per cent.
Our weekly appointments wrap includes Michael Gunner, Kevin Brown, Paul Steel, Jerry Lam, James Abson, Renato Braz Sue, David Boshoff, Tully Carmady, Kris Warren, Vanessa Martin and Ronald Hurst.
Our board moves wrap includes Alison Terry, David Boshoff, Kerryl Bradsaw, James Champion de Crespigny, James Smith, Bob Adam, Simon Wandke, Phil Hoskins, Michael Davis, Robert Rigo, and Peter Brecht.
BCI Minerals has found a new managing director in Adani alumnus David Boshoff, who will be able to double his starting salary if he gets the Mardie potash development back on track.
