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BHP Group Ltd. chief executive Mike Henry says Canada must speed up mine permitting, or it risks losing out to its global rivals in attracting investments in critical minerals. Melbourne-based BHP, the world’s biggest mining company, already has significant operations in Canada. It is building a massive new potash mine in Saskatchewan called Jansen with the total capital expenditure pegged at $20-billion.
Mr. Henry, who is Canadian, said in an interview that while BHP clearly already has an affinity for Canada, based on its investment track record, the slow pace of obtaining mining permits is a big problem.
“When it comes to these big capital projects, time is both money and risk,” he said. “So permitting time frames have to be shorter.” With mining permits in Canada taking up to 17 years to obtain, Canada risks losing out to its global rivals as BHP weighs future investment into copper, nickel and other critical-minerals mines, Mr. Henry said.
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