BCI Minerals (ASX:BCI) has made a final investment decision (FID) regarding the development of the Mardie Salt & Potash Project on Australia's Pilbara coast.
11:42 AM | January 8, 2021 | Daniel Marshall
BCI Minerals Limited (BCI, Perth, Australia) has announced that the Northern Australia Infrastructure Facility (NAIF) Board has made an investment decision to approve a loan facility the Mardie Salt & Potash Project, subject to certain conditions.
The NAIF loan facility is for a total of 450 million AUD to be used for construction and ramp-up of the Mardie Project and associated financing fees and costs and would account for a significant proportion of the full Mardie development funding requirement.
BCI’s Managing Director Alwyn Vorster said the loan “recognizes the potential long-term benefits which Mardie will bring to the region, including new port infrastructure available to third party users. Importantly, the loan will also provide significant momentum for BCI to secure the remaining debt and equity funding components required for Mardie’s development fees and costs.”