BHP says it will move to seven-day payment terms for all small, local, and indigenous business across its global operations. BHP says this will benefit more than 4,000 supply partners worldwide. It will come into effect on July 1.

The company says the change will improve cashflow for small businesses around the world, with whom BHP spends approximately $2.5 billion US each year. In the last 12 months, BHP’s Potash business spent approximately $40 million Canadian with 52 small, local, and indigenous suppliers in Canada.

BHP’s Canadian headquarters is in Saskatoon. Its Jansen Potash Project is located approximately 140 kilometres southeast of Saskatoon.