BCI Minerals’ Mardie Project Nears Completion as First Salt Forms Despite Cyclone Disruptions

BCI Minerals Ltd ( (AU:BCI) ) has issued an update.

BCI Minerals reported that construction of its Mardie Salt Operation and Potash Project reached 81 per cent completion by the end of March 2026, with overall expenditure at A$1.37 billion and an estimated A$333 million remaining to complete construction. The company continues to maintain a strong liquidity position with A$522 million in available funds after drawing an additional A$50 million from its syndicated debt facility during the quarter.

Operationally, BCI commissioned the brine channel, two lift stations and the first two primary crystallisers, enabling high-density brine from pond 9 to be processed and first salt pavement to form, marking Mardie’s transition into an operating salt asset. Tropical cyclones Mitchell and Narelle caused heavy rainfall that delayed crystalliser lining and temporarily reduced pond densities, but did not materially damage infrastructure, and post-quarter operations have resumed with pond density improving and salt reforming as the company targets a sustainable ramp-up toward first salt shipments.

Safety remained a focus with more than 380 leadership-in-the-field safety interactions and 260 critical control verifications completed, although the total recordable injury frequency rate rose to 4.1. BCI also advanced downstream processing works, including starting concrete installation for the salt wash plant and moving KTMS (SOP) trial crystallisers from batch testing to steady-state operation, supporting its longer-term potash production plans and reinforcing the project’s strategic position in the salt and fertiliser markets.

The most recent analyst rating on (AU:BCI) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on BCI Minerals Ltd stock, see the AU:BCI Stock Forecast page.

More about BCI Minerals Ltd

BCI Minerals Ltd is an Australian resources company developing the Mardie Salt Operation and Potash Project in Western Australia. The project focuses on producing high-purity industrial salt and sulphate of potash (SOP) for global chemical, agricultural and industrial markets, aiming to become a large-scale, long-life supplier in the salt and fertiliser sectors.

YTD Price Performance: 2.60%

Average Trading Volume: 985,061

Technical Sentiment Signal: Buy

Current Market Cap: A$1.16B

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