BHP has warned of a $1.7bn cost overrun in the development of its Canadian fertiliser site, dealing a blow to the world’s most valuable mining company as it tries to diversify beyond coal and iron ore.
The Australian miner has pushed back first production at its Jansen potash site in the western province of Saskatchewan until mid-2027 and warned that capital expenditure for the project would rise to as much as $7.4bn from its previous guidance of $5.7bn.
It had previously expected to start producing fertiliser at Jansen by the end of 2026 but said inflation and design changes had led to cost increases and delays. The company also put development of a second stage of the project under review, pushing back production by two years until 2031.
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