Allens advises lenders on signing of BCI Minerals' $981m financing for the Mardie Project

Infrastructure & Transport Mining Project Finance

Allens has advised a syndicate of five lenders on a $981 million syndicated facility agreement for the financing of the salt development of BCI Minerals Limited's Mardie Project. BCI's 100% owned Mardie Project is a potential tier 1 solar evaporation operation located on the West Pilbara coast.

The syndicate of lenders includes the Northern Australia Infrastructure Facility (NAIF), Export Finance Australia (EFA), Export Development Canada (EDC), Westpac Banking Corporation and Industrial and Commercial Bank of China (ICBC) .

The project debt finance comprises $830 million of construction loan facilities and $151 million of facilities for bank guarantee requirements and cost overruns. Westpac has been appointed sole sustainability structurer for the $331 million of seven-year tenor facilities, which align with the Green Loan Principles. 

'We are pleased to have supported the lender group and worked closely with BCI and its advisers,' said lead Partner Ben Farnsworth.

'The signing of the Syndicated Facility Agreement represents a significant milestone for BCI to secure the funding required to deliver the Mardie Project. We look forward to continuing to work with BCI, NAIF, EFA, EDC, Westpac and ICBC towards financial close.'

Allens legal team

Banking & Finance

Ben Farnsworth (Partner), Scott McCoy (Partner), Louise Barbato (Senior Associate), Madeleine Ninkov (Associate), Elise Christou (Lawyer)

Real Estate & Development

Naomi Bergman (Partner), Philippa Lennon (Senior Associate)

Projects & Development

Jodi Reinmuth (Partner), Lewis Pope (Associate)


Tom Tian (Managing Associate)