POTASH DEVELOPMENT: BHP Billiton commits further US$488-M to Jansen project

SASKATCHEWAN - BHP Billiton has approved the spending of another US$488 million, what it calls "pre-commitment capital", at its Jansen potash project near Lanigan. The funds will be used for site preparation and purchasing long lead time items during the feasibility study. A portion will also be used to develop the first 350 metres of the production and service shafts when approvals are received.

The total price of the Jansen in situ project will be approximately US$1.2 billion before production begins in 2015. At full production, the mine will produce 8 million t/y and have a life of 70 years.

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