Ahh_gee_Joey commented on a stock · Jul 22, 2022 20:19

BHP accelerates work on its Saskatchewan potash mine as prices soar

$BHP Group Ltd (BHP.US)$ $Oil & Gas Equipment & Services (LIST2257.US)$ $ASX Ltd (ASX.AU)$
“Today, in effect, we’re replacing our petroleum business with potash,” chief financial officer David Lamott said in May at the BMO Farm to Market Conference.
BHP aims to start production year early in 2026, and that it intends to speed up future expansions as potash prices continue to soar.

BHP Group's Jansen potash mine shaft in Saskatchewan.

BHP says Jansen would initially produce 4.35 million tonnes of potash per year and has the potential to ramp up to around 12 million tonnes per year, making it one of the largest potash mines in the world.
Officially, the mine has been under development for years, but BHP only committed to completing it in 2021, when CEO Mike Henry recalibrated the company’s portfolio towards “future-facing” commodities such as potash, a fertilizer that could be used to feed a growing world population, and battery metals for electrification.

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