LONDON (Reuters) — BHP Billiton says it will stick to a “wait and see” approach in its expansion into potash as it continues to seek potential partners for a $14 billion project in Saskatchewan.
The company plans to invest $2.6 billion over the next four years in the Jansen potash project to keep its options open but has delayed production until at least 2020, looking for the right time to enter the market for the fertilizer ingredient.
Chief executive officer Andrew Mackenzie said BHP was progressing at Jansen, but was cautious.
“We are derisking the project by doing some of the technically difficult (work) such as sinking the shafts. That will be complete in three or four years and then we can move very fast,” he said.
