BHP stated the main focus will now be on finishing the mill constructing, processing plant and port development, all whereas finalizing infrastructure and making ready to switch the venture to operations.
“Constructing one of many largest potash mines on the planet requires an all-hands-on-deck strategy, and the province has actually come collectively to make a venture of this magnitude attainable,” BHP’s potash president, Karina Gistelinck, stated within the assertion.
Building of Jansen’s second part is anticipated to take six years and ship first manufacturing in 2029. The corporate has stated this stage wants an funding of C$6.4 billion ($4.9 billion).
Positioned 140 km east of Saskatoon, the Jansen venture is about to develop into one of many world’s largest producers of potash, a commodity thought-about to be a pillar of future development for the corporate. It additionally represents the only largest personal financial funding within the province’s historical past.
Since giving the venture its go-ahead in August 2021, BHP has been injecting capital to hurry up its improvement even when potash costs have been falling. Even earlier than its approval, the group had spent $4.5 billion on the venture.
The proposed potash mine is being in-built 4 levels, with $5.7 billion already spent on the primary stage alone. In October final 12 months, BHP introduced plans to increase the Jansen venture, approving an additional $4.9 billion funding for stage two. This brings BHP’s complete funding in Jansen so far to about C$14 billion ($10bn).
BHP anticipates that Jansen will develop into one of many world’s largest potash mines, producing 8.5 million tonnes each year and boosting world manufacturing by an estimated 10%.
Potash is a part of Canada’s vital minerals checklist as a consequence of its significance as a key soil nutrient, important for making certain world meals safety. Australia has not but categorised potash as a strategic mineral.