https://newsletter.mw.creamermedia.com
Design|Infrastructure|PROJECT|Infrastructure
Design|Infrastructure|PROJECT|Infrastructure
design|infrastructure|project|infrastructure

BCI in potential offtake and equity deal

4th July 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The share price of ASX-listed BCI Minerals rose by nearly 11% on Tuesday on news that the company had signed a non-binding offtake memorandum of understanding (MoU) with Indonesia’s PT Mineral Industri Indonesia (MIND ID).

The MoU covers the potential offtake of up to one-million tonnes a year of salt produced from the Mardie salt and potash project, and a potential equity investment by MIND ID of up to A$100-million.

Both the offtake and potential equity investment are subject to formal agreements, and BCI said on Tuesday that the companies are working to complete the negotiations for these by the fthird or fourth quarter of this year.

BCI recently signed an offtake term-sheet with Japanese trading and investment firm Itochu for the supply of high-purity salt from Mardie. Itochu has agreed to negotiate a five-year offtake agreement, with 500 000 t of salt to be purchased in the first two years, 600 000 t in year three, and one-million tonnes each in years four and five.

The agreement is conditional on the Mardie project infrastructure being commissioned by the first quarter of 2027.

BCI earlier this year flagged a A$500-million cost blow-out at the Mardie project, while also warning of delays to first production. A design and cost review updated the cost estimate for Mardie to A$1.62-billion, with a base estimate of A$1.42-billion and a contingency of A$208-million. This was significantly higher than the A$913-million cost previously estimated for the project.

The timing of the first salt on ship and first sulphate of potash (SoP) on ship, however, have both been delayed, with salt now targeted for mid-2026 and SoP mid-2027, instead of the initial target of the first quarter of 2024 and the first quarter of 2026 respectively.

BCI shares closed the day at 25.5c each, up from a closing price of 23c a share on Monday.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 23 January 2026
Magazine round up | 23 January 2026
23rd January 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.181 0.265s - 146pq - 2rq
Subscribe Now