Global miner BHP revealed on Thursday that the first phase of its massive potash mine in Saskatchewan, Canada
By Jackson Chen
April 18, 2024
BHP’s first production at Jansen is expected in 2026. (Image courtesy of BHP.)
Global miner BHP (ASX: BHP) (NYSE: BHP) revealed on Thursday that the first phase of its massive potash mine in Saskatchewan, Canada, is ahead of schedule and near the halfway point of completion at 44%.
Located 140 km east of Saskatoon, the Jansen project is set to become one of the world's largest producers of potash, a commodity considered to be a pillar of future growth for the company. It also represents the single largest private economic investment in the province's history.
Since giving the project its go-ahead in 2021, BHP has been injecting capital to speed up its development even when potash prices were falling. Even before its approval, the group had spent US$4.5 billion on the project.
The proposed potash mine is being built in four stages, with US$5.7 billion already spent on the first stage alone. The aim, according to BHP, is to start Phase 1 production in late 2026, with expected potash production of 4.2 million tonnes a year.
In its quarterly update Thursday, the Australian mining group also said that the second stage, which was approved last year and is expected to cost another US$4.9 billion, will start in 2029. This will add another 4.4 million tonnes of annual production.
The entire four-phased development could have annual production of between 16-17 million tonnes, BHP previously stated.
BHP’s first production at Jansen is expected in 2026. (Image courtesy of BHP.)
Global miner BHP (ASX: BHP) (NYSE: BHP) revealed on Thursday that the first phase of its massive potash mine in Saskatchewan, Canada, is ahead of schedule and near the halfway point of completion at 44%.
Located 140 km east of Saskatoon, the Jansen project is set to become one of the world's largest producers of potash, a commodity considered to be a pillar of future growth for the company. It also represents the single largest private economic investment in the province's history.
Since giving the project its go-ahead in 2021, BHP has been injecting capital to speed up its development even when potash prices were falling. Even before its approval, the group had spent US$4.5 billion on the project.
The proposed potash mine is being built in four stages, with US$5.7 billion already spent on the first stage alone. The aim, according to BHP, is to start Phase 1 production in late 2026, with expected potash production of 4.2 million tonnes a year.
In its quarterly update Thursday, the Australian mining group also said that the second stage, which was approved last year and is expected to cost another US$4.9 billion, will start in 2029. This will add another 4.4 million tonnes of annual production.
The entire four-phased development could have annual production of between 16-17 million tonnes, BHP previously stated.
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