Reported about 9 hours ago
BHP Group has announced significant delays and a 30% cost increase for its Jansen Stage 1 potash project, now expected to produce its first output in mid-2027 instead of late 2026. This comes despite the company reporting record annual copper production of 2.02 million metric tons for fiscal 2025, though output is projected to decline in the following year due to lower expected grades at the Escondida mine. The cost overruns, amounting to up to $1.7 billion, are attributed to design changes, inflation, and productivity issues, as BHP reassesses the timing of future project phases amidst potential oversupply in the potash market.
Source: YAHOO