Australian potash project securs A$450 million loan from gov't
BCI Minerals (ASX:BCI) said today that the Northern Australia Infrastructure Facility Board approved a loan facility for the Mardie Salt & Potash Project.
The NAIF loan facility is for a total of A$450M to be used for construction and ramp-up of the Mardie Project and associated financing fees and costs. The facility will have an overall tenor of 15 years from financial close.
Described as a a potential Tier 1 project, the planned mine site is located on the West Pilbara coast in the centre of Australia's key salt production region.
Mardie will produce 4.4Mtpa of high-purity salt (>99.5% NaCl) and 120ktpa of sulphate of potash (SOP) (>52% K2O) via solar evaporation of seawater.
"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," writes the company.