Latest news with #JansenProject
CTV News
5 days ago
- Business
- CTV News
BHP says costs at Jansen potash project up, first production pushed back to mid-2027
BHP has announced it will pour billions of dollars into a potash mine southeast of Saskatoon. SASKATOON — BHP Group Ltd. says the cost of the first phase of its Jansen potash project in Saskatchewan is going to be more expensive than earlier expectations. The miner now estimates the project cost will be in a range of US$7 billion to US$7.4 billion, up from an earlier estimate of US$5.7 billion. The company is also pushing back its estimate for first production from the mine to mid-2027 from earlier expectations for the end of 2026. BHP blamed the increased costs on inflationary pressures, design development and scope changes and lower-than-expected productivity. It estimates the first phase of the Jansen project is 68 per cent complete. The company also says given the potential for additional potash supply coming to market in the medium term, it's considering delaying first production from Jansen's second phase by two years to its 2031 financial year. This report by The Canadian Press was first published July 18, 2025.
Yahoo
5 days ago
- Business
- Yahoo
BHP says costs at Jansen potash project up, first production pushed back to mid-2027
SASKATOON — BHP Group Ltd. says the cost of the first phase of its Jansen potash project in Saskatchewan is going to be more expensive than earlier expectations. The miner now estimates the project cost will be in a range of US$7 billion to US$7.4 billion, up from an earlier estimate of US$5.7 billion. The company is also pushing back its estimate for first production from the mine to mid-2027 from earlier expectations for the end of 2026. BHP blamed the increased costs on inflationary pressures, design development and scope changes and lower-than-expected productivity. It estimates the first phase of the Jansen project is 68 per cent complete. The company also says given the potential for additional potash supply coming to market in the medium term, it's considering delaying first production from Jansen's second phase by two years to its 2031 financial year. This report by The Canadian Press was first published July 18, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
