On January 30, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced an investment of $100 million through the Strategic Innovation Fund to support BHP’s $7.5 billion project to develop its world-leading low-emissions potash mine. This mine, located in Jansen, SK, is expected to generate the lowest direct emissions of any potash mine in the world. Through this project, BHP will significantly minimize the mine’s carbon footprint, improve worker safety, and implement technology to further reduce emissions from mine operations.
“This investment shows that our government is committed to the hard-working people of Saskatchewan as well as to Canada’s mining and agricultural sectors,” said Minister Champagne. “Potash is a critical and strategic resource in the global agricultural industry, and we are pleased to partner with BHP on this project to bring strong economic benefits to Saskatchewan.”
Potash is a potassium-rich salt used mainly as fertilizer to improve the quality and yield of agricultural production. According to BHP, approximately 70 Mt of potash is produced each year in Saskatchewan, Russia’s Urals region, and southern Belarus – an amount accounting for 60% of global potash production. It is especially important when it comes to food security, as the demand for potash could double over the coming decades, as farmers work to meet our population’s needs in a land-scarce, nutrient-depleted world.
“The demand for potash will continue to grow due to a need to increase crop yields to feed a growing population,” said Ragnar Udd, President Minerals Americas, BHP. “Canada has some of the best potash deposits in the world, along with a great skill base and strength in resource development.”
The Jansen Potash Project is 100% owned by BHP and sits approximately 140 km east of Saskatoon, SK. The mine is anticipated to be operational by 2026, with an initial production capacity of 4.3 to 4.5 million tonnes of potash per year, increasing Canada’s production of this critical mineral by nearly 22%, and making it one of the top producers in the world.