BHP has revised its Jansen Stage 2 potash development, increasing the total capital estimate from about US$4.9bn to US$6.9bn after a detailed review. The company now targets first production in late FY2031, later than previously expected. Work on Stage 2 is under way — site progress is roughly 16% complete with engineering about 83% finished as of May 2026.
The project’s full-ramp nameplate remains at about 4.36 million tonnes per annum. For South African investors, the update matters because higher costs and a later start shift cash flow timing and may influence BHP’s near-term capital priorities and returns profile, while also affecting future potash supply dynamics globally.
Read the full announcement.