BHP flags $1.7bn cost increase at Canadian potash venture

Australian miner’s push into fertilizer aims to diversify as iron ore plateaus

BHP is pushing deeper into potash and copper to offset weakening Chinese demand for iron ore. © BHP

MELBOURNE — BHP’s push into potash will cost up to $1.7 billion more than originally estimated, the Australian mining giant revealed on Friday.

The company, which is pivoting towards potash and copper to diversify away from staple commodity iron ore as Chinese steel demand slows, released its annual operational review, updating costs and timeframes for the Jansen potash mine in Canada.

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BHP flags $1.7bn cost increase at Canadian potash venture

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