BHP Billiton Ltd (ASX:BHP) has injected an extra $464 million into developing its Jansen Potash project in Saskatchewan in Canada.
The global miner’s latest investment takes its total investment in the project to $1.2 billion and will fund preparation of the site for the project.
The funding will also enable BHP to develop the first 350 meters of the production and service shafts if government approvals are received.
The Jansen Potash Project entered into the feasibility study phase in February this year and is expected to start producing saleable potash in 2015.
BHP Billiton booked a net profit of $10.5 billion in the first six months of its 2011 financial year.
