BHP announced today that its Board of Directors approved the Jansen Potash Mine in Saskatchewan and will be moving ahead with the project. This decision marks the single largest economic investment ever made in Saskatchewan’s history.
BHP’s decision is a milestone for Saskatchewan as the company will invest a total of $12 billion to complete the Jansen project. To date, approximately $5 billion has been spent to construct the mine with an additional $7.5 billion in investment expected to complete the project.
“As the largest economic investment in our province’s history, BHP’s decision highlights the strength of our potash resource and will undoubtedly help build a strong economy for Saskatchewan,” Premier Scott Moe said. “Our government would like to thank BHP for its positive decision as we are thrilled to see this landmark potash mine move ahead. This project paves the way to create thousands of good-paying jobs for the people of this province.”
The project is expected to create around 3,500 jobs annually during construction. Once in operation, the project will support over 600 direct jobs at the mine site and at the corporate office in Saskatoon.
“Saskatchewan is the largest potash producer in the world, and its investment climate is stronger than ever,” Energy and Resources Minister Bronwyn Eyre said. “The positive economic impact of this decision for our province cannot be overstated, as the Jansen mine will generate tens of billions of dollars in taxes and royalties and create thousands of quality jobs for the people of Saskatchewan.”
The Jansen Mine project is expected to produce approximately 4.4 million tonnes of potash per year once complete with the opportunity to expand in the future. Production is anticipated to begin in 2027 and contribute significantly to achieving our government’s Growth Plan targets of reaching $9 billion of potash sales by 2030.
Saskatchewan accounts for approximately 30 per cent of global potash production with the sector employing an estimated 5,000 people. With today’s announcement, over the past 15 years the Government of Saskatchewan’s fiscal regime for potash has attracted $30 billion in committed capital investment in new mines and expansions.