BHP intends to invest another $6.4 billion in its potash megaproject in Saskatchewan."This is an important milestone that underscores our confidence in potash and marks the next phase of the company’s growth in Canada," said Mike Henry, chief executive officer of BHP, in a press release.This news comes after the company had already agreed to spend $7.5 billion for the first part of the mine project near Jansen, Saskatchewan.BHP says this new spending will support the second part, which will double the mine's capacity and make it one of the biggest potash mines in the world.The first part of the mine is more than 30% finished and plans to begin producing potash in late 2026, according to BHP.BHP stated it would take approximately six years to finish the second part and expects potash production to begin in 2029.BHP said that beginning the second part of the mine while part one construction is ongoing will help them save money.After finishing the initial two parts, BHP says there is the potential for two more expansions at the mine, pending approval. This could increase the mine's production to a range of 16 to 17 million tonnes of potash per year.Earlier this year, BHP began the process of hiring the hundreds of workers needed to run the potash mine.
BHP intends to invest another $6.4 billion in its potash megaproject in Saskatchewan."This is an important milestone that underscores our confidence in potash and marks the next phase of the company’s growth in Canada," said Mike Henry, chief executive officer of BHP, in a press release.This news comes after the company had already agreed to spend $7.5 billion for the first part of the mine project near Jansen, Saskatchewan.BHP says this new spending will support the second part, which will double the mine's capacity and make it one of the biggest potash mines in the world.The first part of the mine is more than 30% finished and plans to begin producing potash in late 2026, according to BHP.BHP stated it would take approximately six years to finish the second part and expects potash production to begin in 2029.BHP said that beginning the second part of the mine while part one construction is ongoing will help them save money.After finishing the initial two parts, BHP says there is the potential for two more expansions at the mine, pending approval. This could increase the mine's production to a range of 16 to 17 million tonnes of potash per year.Earlier this year, BHP began the process of hiring the hundreds of workers needed to run the potash mine.
