24/11/2021

Gilbert + Tobin has advised BCI Minerals Limited on its $360 million capital raising, as part of its broader $1.2 billion funding package for its Mardie Salt and Potash Project.

BCI Minerals Limited is an Australian-based company focused on developing its 100% owned Mardie Salt & Potash Project, located on the West Pilbara coast in the centre of Australia’s key salt production region. Using an inexhaustible seawater resource and a production process driven mainly by natural solar and wind energy, Mardie is a sustainable opportunity to supply the salt and potash growth markets in Asia over many decades.

This was one of the biggest and most complex capital raises in WA in 2021. The raising provides important funding for construction and ramp-up activities at the aforementioned Mardie Salt and Potash Project. The deal also introduces a new institutional investor in AustralianSuper.

The G+T team was led by Perth based Corporate Advisory partner Sarah Turner supported by lawyers Michael Fitzpatrick and Janelle Sputore.

Sarah commented: “We are pleased to have advised BCI on its multi-pronged equity raise to round out its broader $1.2 billion funding package for the Mardie Salt and Potash Project which introduces Australia’s largest super fund, AustralianSuper as a cornerstone investor”.