BCI Minerals Progresses with Mardie Project Amidst Financial Transition

BCI Minerals Ltd ( (BIRNF) ) has released its Q2 earnings. Here is a breakdown of the information BCI Minerals Ltd presented to its investors.

BCI Minerals Ltd is an Australian-based resources company focused on developing the Mardie Salt and Potash Project in the Pilbara region of Western Australia, having divested its iron ore assets to concentrate on this industrial minerals venture. The company’s latest financial report highlights significant progress on the Mardie Project, with the salt-first phase of construction reaching 56% completion and remaining on track with forecast costs. Key financial metrics for the half-year ended December 2024 show a net loss of $22.7 million from continuing operations, attributed to ongoing project development expenses, while a profit of $13.1 million was recorded from discontinued operations following the sale of its Iron Valley assets. Significant milestones include the completion of several infrastructure components, environmental approvals, and finalized project financing arrangements, which provide a robust financial foundation for continued development. Looking ahead, BCI Minerals is poised to complete various phases of the Mardie Project, with the management expecting to commence production by the second quarter of FY26, supported by strategic offtake agreements and ongoing efforts in sustainability and community engagement.