BHP hikes cost estimate for first phase of Jansen mine to US$8.4B

Mining company BHP has raised the cost estimate for the first stage of its Jansen potash project in Saskatchewan again.

The company says the first stage of the project is now expected to cost US$8.4 billion following a review of its budget and schedule.

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The forecast is up from expectations in July 2025 for between US$7 billion and US$7.4 billion.

The project was expected to cost US$5.7 billion when it was approved in August 2021.

BHP says the first stage of the Jansen mine is 75 per cent complete and it continues to expect it to produce about 4.15 million tonnes per year.

“The Jansen potash project in Canada is on track to begin production in mid-2027,” the statement read.

“Jansen will be a long life, low cost and scalable asset that will add a new, future facing commodity to BHP’s portfolio, which we expect will generate value for shareholders for many decades.”

This report by The Canadian Press was first published Jan. 20, 2026.

The Canadian Press

Hiccups from 2025

In July 2025, BHP announced its Jansen Potash mine project would face delays and a price increase.

According to BHP’s 2025 operational review, the project’s first stage, originally scheduled for completion in 2026, has been pushed to mid-2027.

In August, it faced further setbacks.

Stage 2 of the multi-billion-dollar project southeast of Saskatoon is now being pushed two years down the road, according to the company’s annual report.

This shifts production back from 2029 to 2031.

At the time, according to the report, Stage 2 was only 11 per cent complete.

— with files from 650 CKOM