TORONTO - Global mining giant BHP has raised the cost estimate for the first stage of its Jansen potash project in Saskatchewan again.
The first stage of the mine is now expected to cost US$8.4 billion following a review of its budget and schedule, the Australia-headquartered company said Tuesday.Â
The forecast is up from expectations in July 2025 for between US$7 billion and US$7.4 billion.
Jansen was initially estimated to cost US$5.7 billion when it was approved in August 2021.
"We remain positive about the progress at Jansen and in potash as a future facing commodity with strong long-term demand fundamentals driven by population growth, better diets, rising living standards and the need for more productive and sustainable use of arable land," said Brandon Craig, president of BHP's America's division.Â
The latest cost increase was from construction hours and quantities of materials not included in earlier cost estimates, identified after the earlier budget review.Â
BHP says the first stage of the Jansen mine is 75 per cent complete and it continues to expect it to produce about 4.15 million tonnes of the widely used fertilizer per year.
First production at the mine is expected in mid-2027.
This report by ºÃÉ«tvwas first published Jan. 20, 2026.
