Photo Credit: BHP

In its Operational Review for the quarter ended September 30th, BHP says because of challenges encountered with placement of the shaft lining at the Jansen Potash Project in Saskatchewan, and then more recent impacts from their COVID-19 response plan, the Board approved additional funding of US $272 million for the completion of the shafts. That resulted in a total budget of US $3 billion. Previously, the budget had been $2.7billion.

The Jansen Stage 1 project in Canada is expected to be presented to the BHP Board for Final Investment Decision in the middle of the 2021 calendar year. The report says that Stage 1 remains well positioned with attractive medium to longer-term commodity fundamentals, and is set to be a high-margin, low-cost, long-life asset, with multiple, basin-wide, expansion opportunities.

Jansen Potash is 100 owned by BHP. The mine is located near Humboldt.