BHP Billiton Ltd’s potash project in Jansen, Canada, is likely to slow its construction, according to a report by The Australian Financial Review.
“BHP Billiton is working out how best to stage the construction of its $10 billion Jansen potash project in Canada in line with its projected cash flows as it considers the development sequence for its mega-projects,” The Australian Financial Review wrote.
The move will slow the need for additional funding to keep up with the original plan. Progress on the mine will slow, but not stop. BHP non-ferrous chief executive Andrew Mackenzie reportedly has advised that the miner may continue sinking two shafts at the site, but it might delay the construction of some of the surface infrastructure.
A slowdown in the world potash market is blame for the slowdown in potash projects, the company claims.