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ASX Release 23 July 2021 BCI MINERALS LIMITED • ● • JUNE 2021 QUARTERLY RESULTS RECORD IRON VALLEY EARNINGS ; MARDIE APPROACHING FINAL INVESTMENT DECISION Record quarterly Iron Valley EBITDA to BCI of $ 32.2M ; 60 % higher than previous record FY21 Iron Valley EBITDA of A $ 69.5M ; 200 % higher than previous record EPA recommended approval of the Mardie Project to the WA Minister for the Environment • Mardie contracts totalling A $ 129M awarded in 2021 • Board skills increased with appointment of Chris Salisbury as Non - Executive Director • Cash balance of A $ 79.4M¹ and zero debt BCI Minerals Limited ( ASX : BCI ) ( ' BCI ' or the ' Company ' ) is pleased to present its quarterly activities report for the period ended 30 June 2021 . MARDIE SALT & POTASH PROJECT Tenure and Approvals During the quarter , the Western Australian Environmental Protection Authority ( ' EPA ' ) recommended to the WA Minister for the Environment ( Minister Amber - Jade Sanderson ) that the Mardie Project can be implemented as proposed in the Environmental Review Document ( ' ERD ' ) , subject to certain conditions . Subject to the completion of the final public appeals process , the Minister will consult with other WA Government Departments before making a final decision . Minister Sanderson visited the Mardie site as part of the review period ( refer Figure 1 ) , and the Deputy Premier & Minister for State Development , Roger Cook , also visited the site representing the Department of Jobs , Tourism , Science and Innovation , which is Mardie's Lead Agency . The EPA recommendation includes a number of conditions regarding the construction and operation of the Mardie Project , which are materially consistent with BCI's designs , costings and implementation plans . Ongoing secondary approvals and optimisation approvals for new tenement areas and project footprint additions will continue to be progressed during the development phase of the Project . BCI continues to work closely with the Pilbara Ports Authority ( ' PPA ' ) and the Department of Planning , Lands and Heritage ( ' DPLH ' ) to finalise the tenure and agreements required to develop the Mardie Port facilities within the new Port of Cape Preston West . 1 Excludes Iron Valley cash flow of A $ 32.2M related to the June 2021 quarter which will be received in July 2021 . T +61 8 6311 3400 E info@bciminerals.com.au Level 1 , 1 Altona Street West Perth WA 6005 GPO Box 2811 West Perth WA 6872