BHP Billiton increases investment in Jansen potash project

BHP Billiton increases investment in Jansen potash project

2:27 PM, 24th June 2011
BHP Billiton increases investment in Jansen potash project
Tim Cutt, President, Diamonds and Specialty Products, BHP Billiton.

MELBOURNE, AUSTRALIA: BHP Billiton announced approval for $ 488 million of further investment to support development of the Jansen Potash Project in Saskatchewan, Canada. With this, BHP Billiton’s investment in Jansen will become $ 1.2 billion and the total dedicated to Saskatchewan to almost $ 2 billion (including acquisitions). This additional pre-commitment capital will fund site preparation and procurement of long lead time items during the project’s feasibility study. The funding will also enable BHP Billiton to develop the first 350 metre of the production and service shafts.

In February 2011, BHP Billiton announced progression of the Jansen potash project into the feasibility study phase. Jansen is expected to start producing saleable potash from its 3,370 million tonne in-situ mineral resource in 2015.  The project is designed to ultimately produce 8 million tonne per annum (mtpa) of agricultural grade potash with an estimated 70-year mine life.

Considering the full size and potential of potash projects, BHP Billiton believes its Saskatchewan potash business could reach an annual production capacity of more than 16mtpa.

“We continue to make good progress at Jansen and at our other potash projects in Saskatchewan. At Jansen we remain focused on the ground freezing process ahead of sinking the production and service shafts. We look forward to increasing our presence in Saskatchewan as we relocate our Canadian headquarters to Saskatoon, our project pipeline matures and as we develop a significant and scalable potash business,” said Tim Cutt, President, Diamonds and Specialty Products, BHP Billiton.

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