BHP Billiton puts brakes on Jansen potash mine

BHP Billiton won’t be seeking a house to build a Jansen potash plan any time soon.

In a year-end financial results, a tellurian apparatus association says it won’t be seeking a house for capitulation to go forward with a Jansen potash plan in 2018. The association says it is watchful for improved marketplace conditions before proceeding.

“Board capitulation will be sought for a plan usually if it passes a despotic collateral allocation horizon tests,” a news reads.

• BHP Billiton might ‘mothball’ Jansen cave in Sask. if potash prices don’t rebound
• BHP Billiton laying off 70 in Saskatoon

The Jansen project, located 150 kilometres easterly of Saskatoon, was once called a largest potash plan in a world. At one point, it was estimated a cost of building a cave would strech $12 billion US.

The association says it is proceeding with building a prolongation and use shafts, required to ride workers and potash. BHP says a shafts were 70 per cent complete, and have been safely excavated and lined by a Blairmore aquifer.

The mining hulk says it is looking during diluting a seductiveness in a plan by bringing in a financial partner.

BHP posted a $6.7 billion annual distinction for a financial year that finished in June, a year after a misfortune full-year outcome in a company’s history. The association also says it wants to sell a U.S. shale oil assets.

Article source: http://www.cbc.ca/news/canada/saskatoon/bhp-billiton-board-jansen-potash-1.4257010?cmp=rss