BHP Group will soon need to decide on whether to proceed with a CAD22.9bn ($20bn) potash mine project in Saskatchewan, Canada, as it approaches a final decision on the project next year. The company, which has already invested $2.7bn in the scheme, has encountered hostility from investors over the risks involved in entering a new industry, given the disastrous $22.9bn entry into shale drilling during the last commodity boom. The company is close to completing two 1,000 metre shafts, which will trigger the need to either move forward with a $5bn initial development, or sell or mothball it.
BHP Group will soon need to decide on whether to proceed with a CAD20bn ($22.9bn) potash mine project in Saskatchewan, Canada, as it approaches a final decision on the project next year. The company, which has already invested $2.7bn in the scheme, has encountered hostility from investors over the risks involved in entering a new industry, given the disastrous $20bn entry into shale drilling during the last commodity boom. The company is close to completing two 1,000 metre shafts, which will trigger the need to either move forward with a $5bn initial development, or sell or mothball it.