September18 , 2021

BHP indicators conditional port providers deal for Jansen potash mine

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Settlement strikes the projected $5.7-billion mine nearer to fruition

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TORONTO — BHP Group has reached conditional settlement with a unit of Westshore Terminals Funding Corp. for port providers for the worldwide miner’s proposed Jansen potash mine in Canada, the terminal operator stated late on Thursday, shifting the mission nearer to fruition.

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The port settlement is topic to approval by BHP’s board and conditional on it shifting forward with Jansen’s first part, Westshore stated in a launch.

The world’s largest listed miner has estimated Jansen would value as much as US$5.7 billion in its first phases.

The mission in Canada’s Saskatchewan province presents diversification into agricultural markets on condition that potash is a key factor in plant vitamin that additionally makes crops extra drought resistant.

Final month BHP stated it could current its board with a call on whether or not to maneuver forward with Jansen after selecting between two port choices.

“If the Jansen mission does proceed, the settlement requires Westshore to deal with potash for BHP for a time period to 2051, topic to extension,” Westshore stated.

Beneath the settlement, Vancouver-based Westshore would assemble infrastructure to deal with potash at Westshore’s Roberts Financial institution Terminal by 2026, with BHP funding the development.

The pact would change into binding on BHP if it declares a ultimate resolution to proceed with Jansen’s first stage, Westshore stated.

© Thomson Reuters 2021