Mining giant aims to start production year early in 2026
The Australian mining giant also reported in its year-end operational review that work on Jansen’s shaft, which already runs one-kilometre deep, was completed in June at a total cost of US$2.97 billion.
“I’ve been clear that BHP needs to increase its exposure to future-facing commodities and that includes things like copper, nickel and potash,” HenryAt that point, the company had already invested US$4 billion in the project, but Henry insisted that BHP was prepared to walk away based on potash prices.
Earlier this year, BHP sold its petroleum business for $2.8 billion, and the company has said it will put its capital into potash instead.Article contentThe Jansen mine has four stages, each capable of producing around 4 million tonnes of potash per year. Lamott said even if potash prices fell 50 per cent, “we’d be generating around US$4 to US$5 billion of EBITDA per year. For comparison, our petroleum business averaged around US$3 billion per annum over the past five years.
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