BHP has approved an investment of US$4.9 billion (C$6.4 billion) for stage two of the Jansen potash project. The company says the additional investment will transform Jansen into one of the world’s largest potash mines, doubling production capacity to approximately 8.5 million tonnes per annum.

BHP approved stage one of the project in August 2021 with an estimate investment of $5.7 million U-S. Jansen Stage 1 is 32 per cent complete and progressing in line with its schedule. First production from Jansen Stage 1 is expected to be delivered in late calendar year 2026. Construction of Jansen Stage 2 is anticipated to take approximately six years and is expected to deliver first production in fiscal year 2029, followed by a ramp up period of three years.

In a news release, 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 company goes on to say that “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 fertilisers, will be essential for food security and more sustainable farming.”

Jansen is located approximately 155 kilometres east of Saskatoon.