BHP announced on Oct. 31 that it has approved a $6.4 billion investment at its Jansen potash project, funding Stage 2. This will double the investment BHP has made into potash as it develops Jansen, one of the world’s largest potash mines. Last August, BHP announced an investment of $7.5 billion into the Jansen project, and prior to that, poured $4.9 billion into the initial pre-stage one phase.
“The approval of Jansen stage two is an exciting next step in our growth plans for Canada that reinforces our confidence in potash, and our optimism in Canada as a premier investment jurisdiction. Together with our partners, we have a highly skilled team that is building one of the most modern and largest potash mines in the world,” said Ragnar Udd, President Americas, BHP with the announcement.
Stage 1 of the Jansen project is 32 per cent complete, according to BHP. The company expects first production to begin in late 2026. Stage 2 completion is anticipated for 2029, with a three-year ramp up period. BHP expects to double production with Stage 2, producing 8.5 million tonnes of potash annually. The project can be expanded further if needed, with two additional expansions possible.