BHP’s first quarter report for its fiscal year which began in July states that the international mining company had a strong start to the year, with production up across all their major commodities.
In Canada, that commodity is potash in Saskatchewan at BHP’s Stage 1 and Stage 2 mines.
The report states that the Stage 1 project is 58 per cent complete after a productive summer, with first production expected in about two years in 2026.
In U.S. dollars, the capital expenditure for Stage 1 is over $5.7 billion.
Stage 1 of BHP’s project is to design, engineer and construct an underground potash mine and the surface infrastructure.
Stage 2 is the development of additional mining districts, a second shaft, expansion of the processing facilities and adding rail cars.
The report cites the capital expenditure for Stage 2 at almost $4.86 billion, with the project expected to be done in 2029.
It is now four per cent complete.