BCI set to become Australia’s newest industrial salt producer
ASX-listed BCI Minerals has been granted environmental approval for its optimised Mardie project (OMP), positioning the company to become Australia’s newest producer of industrial salt.
On Tuesday, Environment and Water Minister Tanya Pilbersek officially provided Ministerial approval for the OMP, enabling BCI to start operations by filling evaporation ponds 1, 2 and 3 with seawater.
Once the initial three ponds are filled, BCI will update its groundwater monitoring and management plan (GMMP) using real-time data from its network of monitoring bores and additional studies and resubmit the GMMP to the Western Australia and federal environmental regulators for approval for evaporation ponds four to nine.
Construction of the salt-first component of the Mardie project is progressing steadily, with 48% already completed, and more than A$700-million of BCI shareholders’ funds invested to date.
Construction in the section of the OMP footprint not included in the original definitive feasibility study footprint started on Tuesday.
“Australia hasn’t developed a salt project of this significance in 25 years, and the Mardie project will be Australia’s largest solar salt project and the third largest globally.
“With the projected growth in demand for high-grade industrial salt in our target Asian markets, BCI Minerals is strongly positioned to supply global markets with Mardie salt for generations,” commented MD David Boshoff.
Following the raising of A$400-million of new equity and the execution of a A$981-million project finance facility during the 2024 financial year, the salt first component of the Mardie project is fully funded, with a decision on the sulphate-of-potash plant expected during 2026.
BCI’s debt syndicate comprises the Northern Australia Infrastructure Facility, Export Finance Australia, Export Development Canada, Westpac and the Industrial and Commercial Bank of China.
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