Canadian government ISED_CA invest in bhp's Jansen potash mine
construction at its only potash project as high gas prices and sanctions on key exporters continue to disrupt global supplies of fertilizers.
The company had originally planned to kick off production at the underground potash mine in 2027. Market conditions, however, have prompted it to attempt, which is expected to yield 4.35 million tonnes of potash per year. Canada Innovation, Science and Industry Minister François-Philippe Champagne said the investment shows how much the federal government is committed to Saskatchewan as well as to Canada’s mining and agricultural sectors. , adding that the project will lead to the creation of hundreds jobs for Canadians while also encouraging green initiatives in the mining industry.
BHP expects potash demand to increase by 15 million tonnes to roughly 105 million tonnes by 2040, or 1.5% to 3% a year, along with the global population and pressure to improve farming yields given limited land supply.
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