BHP is in talks with Nutrien on giant potash mine – by Thomas Biesheuvel (Bloomberg News – May 26, 2021)

https://www.bloombergquint.com/

BHP Group is in talks with Nutrien Ltd. about a potential partnership in its massive Canadian potash venture as the world’s biggest mining company moves closer to a final decision on the project.

The two companies are discussing multiple options, including Nutrien becoming the operator and selling the potash through its existing channels, or the Canadian company taking a stake in the Jansen mine, according to people familiar with the matter.

There is no guarantee the talks will lead to a deal, said the people, who asked not to be identified as the discussions are private.

BHP has struggled with the Jansen project for years. Despite already spending about US$4.5 billion and digging two 1,000-meter (3,300-feet) deep shafts, the company has yet to approve its construction and has faced shareholder opposition, including from Elliott Investment Management.

Still, BHP’s board is set to make a final decision in the coming months. The miner has repeatedly said it’s open to bringing a partner into the project, especially one with expertise in the fertilizer market or potash.

For the rest of this article: https://www.bloombergquint.com/business/bhp-said-to-be-in-talks-with-nutrien-on-giant-potash-mine

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