BCI Minerals (ASX:BCI) started operations at the Mardie salt and potash project in Western Australia in the fiscal first quarter ended September.

Overall progress at Mardie was more than 50% complete, with the company on track to achieve first salt on ship in fiscal Q2 2027, according to separate Tuesday filings with the Australian bourse.

The company achieved certain milestones in fiscal Q1, including the financial closure on its AU$981 million syndicated facility agreement, the signing of a strategic agreement with China's Befar Group for the supply of industrial salt, and the receipt of an initial AU$26 million from the sale of its Iron Valley assets.

The company's shares were up almost 2% in recent Tuesday trade.

Price (AUD): $0.32, Change: $+0.01, Percent Change: +1.59%