BHP has approved an investment of US$4.9 billion for stage two of the Jansen potash project (Jansen Stage 2) in Saskatchewan, Canada.
This follows BHP’s approval of US$5.7 billion for stage one of the Jansen potash project (Jansen Stage 1) in August 2021 and a pre-Jansen Stage 1 investment of US$4.5 billion.
BHP Chief Executive Officer, Mike Henry said: “This is an important milestone that underscores our confidence in potash and marks the next phase of the company’s growth in Canada. We believe Jansen will deliver long-term value for shareholders and the local community, and will position BHP as one of the leaders in the global potash industry.
The stage two investment advances BHP’s strategy to increase its exposure to commodities positively leveraged to the global megatrends of population growth, urbanisation, rising living standards, and decarbonisation. Potash, used in fertilizers, will be essential for food security and more sustainable farming.
Today’s additional investment will transform Jansen into one of the world’s largest potash mines, doubling production capacity to approximately 8.5 Mtpa.
We are advancing our sustainability and economic development priorities for Jansen and we are pleased with the progress of our ongoing work with the Governments of Canada and Saskatchewan, as well as local and Indigenous communities on shared solutions.”