Mike Henry discusses the rationale behind BHP’s potash investment and how it intends to compete with the world’s largest potash producer
The world’s biggest miner BHP Group Ltd. is aiming to enter Canada’s potash industry in a big way when it starts producing the commodity in 2026 in Saskatchewan. The Jansen potash project is one of its biggest capital investments and while prices of the commodity have taken a hit in recent times, the miner is confident the expenditure will be worth it in the long run.
BHP’s chief executive Mike Henry was born in Canada and studied at the University of British Columbia. He left for Australia in 1999 to work for the Melbourne-based company and gradually rose up the ranks to become head of it in 2020.
In a 30-minute interview with the Financial Post, Henry discussed the rationale behind BHP’s potash investment, how the company intends to compete with Nutrien Ltd., the world’s largest potash producer, Canadian mining policies and whether or not he’s interested in Teck Resources Ltd.’s coal unit.
Financial Post: Let’s start with potash. Can you give us an update on how things are going in Saskatchewan at Jansen?
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