BHP Billiton’s $14-billion Jansen project in Saskatchewan, which has the potential to become the world’s largest fertilizer producer, is still in the company’s books, CEO Andrew Mackenzie said Wednesday in an interview with the Wall Street Journal.
The world’s No. 1 mining company hasn’t ruled out its plans of building such a project because, said Mackenzie, it still aims to add potash as a fifth pillar to its diversified operations, which include iron ore, coal, copper, and oil and gas.
In the wake of Russian potash miner Uralkali’s exit from one of the world’s two big potash cartels, BHP’s boss said the company “thinks long-term,” giving little weigh to rumours that the company would more likely take over U.S. potash producer Mosaic than build Jansen.
With last week’s move Uralkali, which is the world’s largest potash producer, sparked the prospect of a potash price war, sending stock prices in the sector off a cliff.
Reprinted by permission of Mining.com