BCI Minerals (BCI) Noosa Mining Conference 2026 summary

Project Progress and Operational Readiness

• Construction is 85% complete, with all evaporation ponds operational and salt crystallizing; operational readiness for salt delivery is targeted for Q1 2027.

• Six crystallisers filled as of July 2026, with salt wash plant construction progressing and first salt harvest targeted for CY2027.

• Major infrastructure components, including seawater intake, ponds, jetty, and port, are finished or near completion, with the salt wash plant almost done.

• Salt forming in crystallisers marks a key operational milestone, with images confirming progress.

• The project has remained on schedule and on budget over four years, with completion expected around October this year.

Market Outlook and Demand Drivers

• The salt market is stable and mature, with increasing demand expected from new chlor-alkali plants in Asia, especially China and India.

• Positive Asian salt market outlook, with demand expected to grow by 37mtpa over the next decade, outpacing supply growth.

• About 20 million tons of new demand is anticipated in Asia by the end of next year, while only 10 million tons of new supply is expected.

• India is shifting from exporting to meeting rising domestic demand, with 2.5 million tons of new demand from upcoming plants in the next 3-4 months.

• Market tailwinds are strong due to supply shortfalls and growing industrial needs in the region.

Infrastructure and Growth Opportunities

• The port has a 20 million ton annual export capacity, with significant excess capacity available for other Pilbara producers.

• Mardie Port construction 94% complete, with 14.5mt surplus capacity; regulator discussions underway for potential iron ore export.

• The port's strategic location and infrastructure offer potential for expansion beyond salt and SOP, with over 1 billion tons of nearby chalk resources.

• Multi-user port and export infrastructure in place to support global market access.

• Current share price does not reflect the value of these infrastructure assets.