BHP pushes out Jansen investment decision to mid-2021
The Jansen Stage 1 potash project, in Canada, will be presented to the BHP board for a final investment decision by the middle of next year, diversified major BHP CEO Mike Henry said on Tuesday.
The company previously planned to present the project, east of Saskatoon, Saskatchewan, to its board in February 2021, but delays relating to the completion of shafts have pushed out this date by a few months.
The delays are a result of initial challenges with placement of the shaft lining, which have since been rectified, BHP explained. The group’s Covid-19 response plan also impacted on work during the June quarter.
The delays would also result in additional costs on the $2.7-billion shaft project currently in execution, BHP said, stating that a cost review was under way.
The forecast capital cost for the execution of Jansen Stage 1; however, remained unchanged at between $5.3-billion and $5.7-billion.
“Jansen is a tier 1 deposit, with potential to be one of the lowest cost operations in the world,” said Henry.
The Jansen potash project has an estimated measured resource of 5.17-billion tonnes and an inferred resource of 1.27-billion, both grading at 25.7% potassium oxide, 7.1% insolubles and 0.07% magnesium oxide.
The project is being designed to produce about eight-million tonnes a year of agricultural-grade potash in three phases. The project has an estimated 70-year life-of-mine.
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