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Why Stokes swapped iron ore for buckets of salt Share Ryan Stokes says he has no regrets about the sale of iron ore assets to focus on a salt project on the West Australian coast that has attracted $450 million in finance from the Morrison government. His logic is that iron ore prices are volatile and can plunge just as readily as they have surged over the past year, and that Stokes-backed BCI Minerals did not have assets of the scale needed to prosper through the cycles. Trail evaporation ponds at BCI Minerals’ Mardie salt project in WA.   BCI, which is 39.9 per cent owned by Mr Stokes and his Rich Lister father Kerry’s private investment vehicle Wroxby, opted to sell iron ore deposits in WA’s Pilbara and concentrate on the Mardie salt and sulphate of potash project.

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