BCI Minerals achieves financial close for Mardie Project debt finance facility

BCI Minerals Limited (ASX:BCI) has successfully achieved the Financial Close of the Syndicated Facility Agreement (SFA) for the Mardie Project. The SFA, totaling $981M, will provide project debt finance for the salt-first component of the Mardie Salt and Potash Project. The syndicate includes Northern Australia Infrastructure Facility (NAIF), Export Finance Australia (EFA), Export Development Canada (EDC), Westpac Banking Corporation (Westpac), and Industrial and Commercial Bank of China Limited (ICBC). The first drawdown of the debt finance is expected by Q3 FY25, with the first salt on ship targeted for Q2 FY27.

Executive Commentary on Achieving Financial Close for Mardie Project Debt Finance Facility

With construction of the salt-first component of the Mardie Project now over 50 per cent complete, reaching Financial Close on the Syndicated Facility Agreement is an important milestone for BCI Minerals for the salt-first component of the Mardie Project. With key achievements including the commencement of operations, securing binding Offtake Agreements and signing the CSL transhipment contract, we are continuing to execute our plan with precision and building confidence with our stakeholders.

Summary of BCI Minerals' Financial Close for Mardie Project Debt Finance Facility

BCI Minerals (ASX:BCI) has finalized the Financial Close of the Syndicated Facility Agreement (SFA) for the Mardie Project, securing a total of $981M in project debt finance. The SFA, involving a syndicate of financial institutions, will fund the salt-first component of the Mardie Salt and Potash Project. The company aims for the first drawdown of the debt finance by Q3 FY25, with the first salt on ship targeted for Q2 FY27. BCI Minerals' Managing Director, David Boshoff, emphasized the significance of this achievement, highlighting the progress in construction and the successful execution of key agreements. The Company's commitment to precision and stakeholder confidence remains strong as it continues to advance its strategic plan for the Mardie Project.