BHP faucets Nutrien for Canada potash mine partnership – Bloomberg Information

BHP faucets Nutrien for Canada potash mine partnership – Bloomberg Information

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Adds analyst remark, no remark from corporations

Could 27 (Reuters)BHP Group BHP.AX is in discussions with fertilizer maker Nutrien Ltd NTR.TO a couple of partnership within the miner’s potash mission in Canada, Bloomberg Information reported, citing sources.

Potential choices embody Nutrien buying a stake within the Jansen, Saskatchewan mine, or changing into an operator and promoting the potash by means of its channels, the report stated, including that the talks had been non-public and there was no assure of a deal but.(https://bloom.bg/3fmbtHZ)

BHP and Nutrien declined to remark.

Buyers have raised considerations over the Jansen mission not too long ago, anxious {that a} potash oversupply over the following decade may crimp returns.

Australia-based BHP is the world’s largest listed miner, however doesn’t produce potash, a crop nutrient farmers unfold to extend yields.

Nutrien is the most important international fertiliser producer by capability, primarily based in Saskatchewan.

Nutrien shopping for a stake in Jansen is mindless for both firm, BMO Capital Markets analyst Joel Jackson stated in a be aware. A broader three way partnership between Nutrien and BHP involving the potash belongings of each corporations has extra potential, Jackson stated.

BHP has already sunk $4.5 billion into Jansen and forecast extra in annual capital expenditure, because it edges in direction of making a last funding resolution on the mine by mid-year.

(Reporting by Anushka Trivedi in Bengaluru; extra reporting by Rod Nickel in Winnipeg and Jeff Lewis in Toronto; Enhancing by Shinjini Ganguli)

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