Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesMiningBHP takes US$2.3-billion charge on Saskatchewan potash mine as costs jump againWorld’s largest miner now says project will cost US$6.9 billion, the latest in a series of cost and time overrunsAuthor of the article:Last updated 1 hour ago You can save this article by registering for free here. Or sign-in if you have an account.Potash from a tour of the BHP Jansen Potash Mine. Photo taken in Jansen, Sask. on Wednesday, Dec 3, 2025. Photo by Michelle Berg / Saskatoon StarPhoenixBHP Group will take a US$2.3 billion writedown on its giant Jansen potash mine, after announcing the latest in a series of cost and time overruns for an expansion of the project in Canada.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorBHP, the world’s largest miner, has routinely blown past cost estimates for the controversial project. Following a review, the company said Thursday the phase two expansion will now cost US$6.9 billion, up from an earlier forecast of US$4.9 billion. It will start producing toward the end of 2031.BHP decided to push ahead with the Jansen expansion in 2023, years before before the first phase of the mine was in production, as fertilizer prices surged after Russia’s invasion of Ukraine. Since then, prices have fallen and the costs of both phases have spiralled at a project that’s long been unpopular with some investors.BHP finally approved construction of the Jansen mine in Saskatchewan in 2021 after years of debate over the huge price tag. The mine, which could operate for a century, is seen by BHP as a business that could grow to a scale that would rival its flagship iron ore mines in Australia.First production from phase one of Jansen is expected next year. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.