BHP to make final decision on potash ptoject in 2021

BHP said it would make a final investment decision on the massive $17bn Canadian potash project in 2021.

The world's biggest miner launched the project in 2013 to diversify activities and on Thursday approved a further $345m on preparation spending.

BHP also reported a 1% year-on-year fall in third quarter iron ore output to 69m tonnes as it maintained its annual production forecast of 273m – 286m tonnes.

It said the fall was due to “significant planned maintenance” at the major Port Hedland facility “to further improve port reliability and provide a stable base for our tightly coupled supply chain”.

The company sad in a trading statement that it had approved a further $144m on engineering to support project planning and finalise a port solution, with an extra $201m to further derisk the project, focusing on engineering and procurement and preparation works for underground infrastructure.