November 24, 2023 (Australian Mining) - BCI Minerals is looking towards a future of growth from its Mardie salt and potash project on the west Pilbara coast in Western Australia.
Addressing BCI’s annual general meeting, BCI chair Brian O’Donnell congratulated the Mardie team on the completion of extensive construction projects, including the completion of the primary seawater intake station, a 400-person accommodation village, and five evaporation ponds.
“This progress has been promising, and we strongly believe Mardie will become one of the most sustainable, long-lasting, and naturally renewable resource projects globally, providing long-term value to shareholders and benefiting the community,” O’Donnell said.
Underlining the optimisation of the Mardie project in the last 12 months, O’Donnell credited a review of operational costs as successfully de-risking the project.
“With a new base case capital estimate of $1.421 billion plus $208 million in contingency, the review increased the robustness of the Mardie project’s design and improved our confidence in the cost forecast,” he said.
O’Donnell went on to emphasise Mardie’s position in the global market, citing BCI’s forming offtake relationships with Asian markets as well as Japan’s Itochu Corporation and PT Mineral Industri Indonesia.
“An anticipated shortfall in supply is expected at the time BCI will deliver our first salt on ship in mid-2026, aligning well with the salt marketing regimes in the Asian markets,” he said.