Global mining company BHP announced on January 19, 2026, that the latest total investment estimate for the first phase (Jansen Stage 1) of its Jansen potash project in Saskatchewan, Canada, has been revised upward to $8.4 billion (including contingency). This investment figure represents an increase from the $7.0-$7.4 billion range estimated in July 2025. The project remains on track to achieve first production in mid-2027.

The overall construction progress for the project has now reached 75%. Despite the cost increase, based on its low-cost advantages, the project is expected to have an annual production capacity of approximately 4.15 million tonnes upon commissioning. The internal rate of return is projected to remain between 7.9% and 9.1%, with a payback period of 11 to 15 years after production begins. The primary reasons for the cost increase are higher-than-previously-estimated construction labor hours and material quantities, coupled with inflationary pressures.

The Jansen project is a key asset in BHP's long-term strategy, aiming to establish the company as a significant player in the global potash market. BHP has implemented mitigation plans to manage ongoing cost and schedule risks and continues to advance studies for Jansen Stage 2. In the long term, the total production capacity of the project series could reach a maximum of 16 to 17 million tonnes per year.