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BHP’s decision on Jansen potash mine imminent
Mine shaft at Jansen. (
Image courtesy of BHP)
BHP (ASX, NYSE, LON: BHP), the world’s largest miner, is weeks away from deciding whether to go ahead with its long-delayed Jansen potash project in Canada, more than 10 years after completing the mine’s feasibility study.
The company has been mulling a final decision on the asset for at least eight years, during which it has spent about $4.5 billion laying the ground for crop nutrient-producing project.
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As the deadline for choosing to approve a further $5.7 billion in spending to bring Jansen into production approaches, BHP has begun talks with Canadian rival Nutrien (TSE, NYSE: NTR). The companies are exploring a potential partnership that could help make the project less risky and provide critical infrastructure.