Ottawa to give mining giant BHP up to $100 million to cut emissions at Jansen potash project

Franois-Philippe Champagne, Canada's Industry Minister, said on Monday that the government would spend as much as $100 million to help reduce emissions at the proposed potash mine in the province.

At the press conference, Champagne was joined by Mike Henry, who was from Australia.

Champagne said his government had reached an agreement in principle with the company that would see it invest up to $100 million to reduce emissions from its planned potash mine.

It is going to be the largest potash mine in the world and it is going to be green.

In August of last year, after years of debate and investment that reached into the billions of dollars, a decision was made to move forward with the Jansen potash mine.

Henry said at the press conference Monday that the company was looking to speed up the production date by a year.

Champagne said that it was a vote of confidence in Canada as a top global investment destination.

Henry has previously told the Financial Post that his company is looking to reduce the carbon emissions profile of its portfolio. The company agreed to sell its business in 2020.

Henry said that the company would be opening up a whole new growth front.

The first stage of the Jansen mine could produce up to 4.5 million tonnes per year, according to the company. Henry said the company was looking to accelerate production from stage two if market conditions were to improve.

In terms of production, Canada produced more than any other country. Potasus helps boost crop yields and strengthens plants.

Russia and Belarus are the second and third largest producers in the world, and both have been disrupted by sanctions.

The company said last week that it would increase production from 15 million to 20 million this year. Ken Seitz, the interim chief executive, told the Financial Post that he expects Russia and Belarus to produce less than expected.

After the aggression of Russia against the people of Ukraine, Canada is stepping up to do its part.

The email is gfriedman@postmedia.

The Financial Post is part of Postmedia Network Inc.

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