BCI Minerals Limited (ASX:BCI) ("BCI") is an Australian-based resources company that is developing an industrial minerals business (including salt and potash) supported by iron ore royalty earnings and divestment proceeds.
BCI’s focus is on advancing its 100% owned Mardie Salt & Potash Project, located on the West Pilbara coast in the centre of Australia's key salt production region. BCI has completed a positive Pre-Feasibility Study on a solar evaporation operation producing 3.5Mtpa salt and 75ktpa sulphate of potash. A Definitive Feasibility Study is underway with all approvals and a Final Investment Decision targeted by late 2019.
BCI has commenced a process for the divestment of its iron ore portfolio, which includes Iron Valley, Kumina, Buckland and other assets. BCI has entered into an agreement to sell Kumina to Mineral Resources Limited (ASX:MIN) for total consideration of A$35M cash.
Iron Valley is an operating iron ore mine located in the Central Pilbara region of Western Australia, which is operated by MIN. Iron Valley is generating quarterly royalty earnings for BCI.
Buckland is an iron ore development project located in the West Pilbara, comprising a potential 8Mtpa mine at Bungaroo South and exclusive lease and development rights for a 20Mtpa port facility at Cape Preston East.