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June 13, 2022

Canada plans investment in BHP’s potash mine to increase sustainability

The Jansen potash mine is projected to have annual production capacity of around eight million tonnes.

Canada is set to announce an undisclosed investment to help reduce emissions at the BHP-operated Jansen potash mine, reported Reuters citing a government source.

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The announcement is due to be made by Canadian Industry Minister François-Philippe Champagne and Agriculture Minister Marie-Claude Bibeau on ‘moving toward the net-zero emission economy’ in Saskatoon, Saskatchewan.

BHP plans to use the funding for equipment and electric vehicles to operate the mine, which is located 150km east of the Saskatoon mine.

The Canadian Government has been funding clean energy projects, including facilities to produce electric vehicle batteries and battery materials, to support its aim to reach net-zero carbon emissions by 2050.

Last month, Anglo-Australian miner BHP said it could fast-track the development of the Jansen potash project in Canada by a year as global supplies have been impacted by Russia’s military attack on Ukraine.

Since the imposition of sanctions against Russia by Western nations, global prices of potash have risen. Potash is said to be a key input used in nitrogen fertilisers.

The government source said: “We’re looking to do anything we can do to support a commodity in short supply because of the war.”

The Jansen project is a proposed underground potash development project in Saskatchewan.

Upon completion, the project’s annual potash production capacity will be nearly eight million tonnes, making it one of the world’s largest of its kind.

With an expected life of more than 50 years, the mine holds 3,250 million dry tonnes of indicated resources graded at 25.4% potassium oxide, according to estimates.

Last year, BHP Group was reportedly in discussions with Nutrien over a potential collaboration for the Jansen project development.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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