Global miner BHP Billiton Ltd
(ASX:BHP) has announced that its Jansen potash project has moved into the feasibility study phase.
In December BHP submitted an environmental impact statement for the project in Canada, and the latest announcement represents an advanced stage of the approvals process.
The news comes following BHP’s withdrawal from its $40 billion bid for Canada's Potash Corporation in November 2010.
BHP says advancing Jansen highlights the company’s commitment to the project and province of Saskatchewan and Canada.
At the beginning of 2010 BHP arranged $US240 million of funding for the early development of Jansen and has since started site preparation. Jansen is expected to start producing saleable potash in 2015 over an estimated life of 70 years.
BHP reported a net profit of $15.3 billion in the year to 30 June 2010.
