BHP has plans to shake up the global fertiliser market with new agreements inked over its Jansen potash project in Saskatchewan, Canada.
BHP chief commercial officer Ragnar Udd told Reuters the Big Australian has signed non-binding sales agreements encompassing its entire potash production and is expecting to shore up firm offtakes over the next 12–18 months.
Udd refrained from divulging specifics about the company’s plans but emphasised the major is “quite comfortable” competing in the US sector, planning to sell its potash to distributors rather than direct to companies.
“A lot of the feedback we’ve had from customers is how thrilled they are to be seeing a new reliable, stable form of supply coming in from an industry player that’s well-known,” Udd said.
With production expected to begin in 2026, BHP anticipates Jansen will become one of the world’s largest potash mines, producing approximately 8.5 million tonnes per annum and boosting global production by an estimated 10 per cent.
Reuters also reported Udd weighed in on a potential acquisition of First Quantum Minerals’ (FQM) Cobre Panama copper mine in Panama.
“Honestly, while we’re always looking for opportunities, I think that’s a situation best left for Panama and others,” he said.
Cobre Panama is one of the world’s largest copper mines, but was shut down in December last year after the country’s Supreme Court ruled its operation via a 20-year concession to FQM was unconstitutional.
FQM also recently scaled back operations at its Ravensthorpe nickel mine in Western Australia following a downturn in prices.
The miner said it will lean on ore stockpiles to continue producing nickel, which are expected to be processed over the next 18 months.
Ravensthorpe is now expected produce approximately 16,000 contained tonnes of nickel per annum over the next three years.
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