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BCI Minerals achieves $360m capital raising
BCI Minerals Limited’s funding package for its Mardie Salt and Potash Project has been secured with assistance from Gilbert + Tobin.
Naomi Neilson
Firm: Gilbert + Tobin (BCI Minerals Limited)
Value: $360 million.
Area: Finance, corporate.
Key players: The team was led by corporate advisory partner Sarah Turner with support from lawyers Michael Fitzpatrick and Janelle Sputore.
Deal significance: Using an inexhaustible seawater resource and a production process driven by natural solar and wind energy, Mardi is a sustainable opportunity to supply the salt and potash growth markets in Asia over many decades.
The deal was one of the biggest and most complex capital raises in Western Australia during 2021, according to the firm. It 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.
Ms Turner 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.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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