Mining Company BHP Billiton May Sell Their Canadian Potash Project

BHP Billiton – one of the largest mining companies on earth – may sell their Jansen potash project in Saskatchewan.

As noted by BNN, BHP Billiton CFO Peter Beaven said “Jansen will not proceed unless it passes our strict capital allocation tests. … We continue to thoroughly investigate all opportunities to further improve its economics.”

BHP also recently announced they would exit the shale & oil business in the United States.

An exit of BHP from the Jansen project would be a concern, as it would be another example of a large investor leaving the country. However, unlike in Alberta and B.C., the exit of BHP would not be seen as being closely related to over-regulation and flawed government policy, as the current Saskatchewan government has created a good environment for companies to do business.

Spencer Fernando

Photo – YouTube

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So what’s new? Any more businesses packing up to leave?