BHP to invest $4.9bn in Jansen potash project in Canada

BHP announced on Tuesday that it has approved a $4.9bn (CAD$6.4bn) investment in stage two of the Jansen potash project in Saskatchewan, Canada.

The Australian mining giant said the investment, which underscores its confidence in potash, will double the site’s production capacity and enable it to produce approximately 8.5 million tonnes per annum.

According to BHP’s CEO, Mike Henry, this will transform Jansen into one of the world’s largest potash mines and position the company as a leading global supplier of Potash.

The latest decision follows BHP’s approval of a $5.7bn investment in stage one of the Jansen potash project in August 2021 and a pre-Jansen stage one investment of $4.5bn.

The company said that the first stage is 32% complete, with initial production expected to start in late 2026. The second stage should enter production by June 2029.

BHP also stated in its announcement that there will be a possibility of two further project expansions, which would bring its final production capacity to 16-17 million tonnes per annum.