BCI Minerals raised $315 million in equity, comprising an accelerated non-renounceable entitlement offer and a placement.

The funds are anticipated to fulfil the remaining equity requirements for BCI's 'salt first' phase of the Mardie Project, with major shareholders Wroxby and AustralianSuper committed to taking up their full entitlements.

BCI also plans to advance the final engineering for a sulphate of potash circuit in 2025, intending to fund it through additional debt or cash flow from salt production.