Coal executive to lead BCI

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. 

He will join BCI as its new managing director in November as a replacement for Alwyn Vorster, who stepped down earlier this year.

Mr Boshoff touts extensive experience in the coal industry.

His previous roles include chief operating officer and subsequently chief executive officer of Bravus Mining and Resources, formerly known as Adani Mining.

The company changed the name of its Australian operations amid fallout from staunch environmental opposition against the Carmichael coal mine in central Queensland.

Prior to his tenure with Bravus, Mr Boshoff was the general manager at BHP’s Mt Arthur coal mine in New South Wales.

BCI chair Brian O'Donnell said the incoming managing director’s previous experience in delivering capital projects made him the right leader to guide the potash aspirant through the current stage of Mardie’s development.

As it stands, BCI has put a halt on awarding any new contracts to build the $1.2 billion salt and potash project near Karratha due to a heated cost and labour market.

It has also been revising the scope and costs for the project.

Mr Boshoff acknowledged the current headwinds.

“BCI Minerals is a dynamic company that is committed to excellence,” he said.

“I'm very much looking forward to leading the team through the next stage of construction at Mardie and providing support and leadership as we tackle the challenges ahead.”

Mr Boshoff’s salary package includes fixed annual remuneration of $800,000 inclusive of superannuation.

His annual bonus can be up to 125 per cent of the fixed remuneration while his long-term incentive can be up to 100 per cent of the fixed payment.

In addition, Mr Boshoff may be paid a further $800,000 in cash if he achieves project milestones at Mardie.

The terms of this bonus will be negotiated by Mr Boshoff and Mr O’Donnell in coming months.

BCI Minerals shares picked up 4.44 per cent to trade at 24 cents at 3:53pm AEDT.