BHP sees Brazil as major potash market for new project in Canada
BELO HORIZONTE - Australian mining giant BHP expects Brazil to become one of the three largest markets for the major potash project it is developing in Canada, the company's local head told Reuters on Tuesday.
Potash, along with nitrogen and phosphate, is a primary nutrient essential for food production, and Brazil is one of the world's largest food suppliers but imports most of its fertilizer needs.
"Brazil is expected to be one of the top three markets for BHP for potash. So it's very, very important for us," the miner's general manager in Brazil, Carla Wilson, said in an interview on the sidelines of a mining conference.
The first phase of BHP's Jansen potash project in Canada is scheduled to come online in 2026 with annual production capacity of 4.2-million metric tons, following investments of $5.7 billion.
A second phase expected to double the mine's capacity will require an additional $4.9-billion investment, according to the company.
BHP is working on building connections with potential long-term potash buyers in Brazil, said Wilson, noting that the first phase of the Canadian project is just over 50% complete.
"At this point in time, we're just slowly starting to build our presence and starting to build those long-term relationships with customers here," the executive said.
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