While a final decision has not been given on a proposed large potash mine project in Saskatchewan, one financial analyst says he is quite confident it will be approved in the next few months.
Originally announced in 2010, BHP’s Jansen mine was once hailed as the largest potash project in the world. The site is located about 140 kilometres east of Saskatoon.
Low potash prices meant the company never gave the mine final approval. While production and service shafts have been dug, and are almost fully completed, BHP has yet to produce any mineral from the site.
The massive mining company has now promised its shareholders that it will go to its board to make a final decision on the project sometime in the middle of this year.
In an investors note, Scotia Capital analyst Ben Isaacson put the chance that the mine will be approved to start production within the next three to four months at 90 per cent.
For the rest of this article: https://www.cbc.ca/news/canada/saskatoon/deadline-approaches-potash-mine-1.6005677