BCI Minerals secures $598m transhipment vessel deal with CSL

BCI Minerals has inked a 21-year deal with CSL Australia for transhipment services to the listed company’s Mardie salt and potash project in Karratha, a move the developer says will offer a cheaper alternative to a deep-water port.

The agreement is worth $598 million, BCI told the market on Monday morning. The first phase of the contract will start at the company’s Cape Preston West Port in the second half of 2026, when CSL will provide a chartered vessel for transhipment while a new vessel is built.

The second phase will start from the second half of 2027 according to BCI with a new purpose-built transhipment vessel for the company’s salt and potash project.

“BCI Minerals is very pleased to sign this major contract with CSL for a vessel specifically designed for the Mardie Salt and Potash Project, which will provide us with a secure and cost-effective shipping solution providing real benefits to our operations and our customers,” BCI managing director David Boshoff said.

CSL Group president and chief executive Louis Martel said BCI was a valued partner.

“CSL is thrilled to spearhead the design, construction, and operation of this custom-built diesel-electric ship, which will serve as a high-performance, safe and sustainable solution for the Mardie Project.”

Using a transhipper will remove the need for towage and pilots, BCI said. The new vessel will travel between 12 and 15 nautical miles from BCI’s jetty loadout facility to load up ocean-going vessels.

BCI’s new transhipper will deliver up to 5.35 million tonnes of salt per annum.

BCI is about 40 per cent of the way through building its Mardie salt project, located about 80km from Karratha.

Earlier this month the company sold its iron ore assets to Mineral Resources for $73m.

WA businessman Kerry Stokes — chair of Seven West Media — has a 35.5 per cent stake in BCI.