According to the latest BHP report which covers the second half of last year, its Jansen Stage 1 potash mine in Saskatchewan is 63 per cent complete, and it’s ahead of schedule with production expected late next year. The Stage 2 mine is six per cent complete with mining expected to begin in 2029. The capital estimate for Stage 1 is over $5.7 billion U.S. and it’s $4.8 billion for Stage 2.

The report says in preparation for the transition from construction to operation, BHP is working with local educational institutions to support the training and recruitment of skilled trades personnel, and it describes its Jansen Stage 1 and 2  as world class assets with growth potential. It is strategically significant for the international mining company because it further diversifies its portfolio, which then increases resilience to market cycles.

Chief Financial Officer, Vandita Pant, states that from July through December last year, BHP spent $5.2 billion on capital and exploration in total, particularly in the future-facing commodities of copper and potash.