The Australian mining giant said it now expects costs could reach US$7 billion to US$7.4 billion for stage one of its Jansen project, crushing the original US$5.7-billion budget for what is expected to be one of the world’s biggest potash mines.  (The Logic)

Talking point: It’s a drastic turn of events for the project, which was ahead of schedule just a year ago and was expected to start production in late 2026. Now, phase one of the project will be closer to its original timeline of mid-2027, the company said. The setback is a blow both to the province, which expected the project to support 1,100 permanent jobs and attract 3,000 residents to the region by 2029, as well as to Canada’s ambitions to remain a standout supplier to the world’s agriculture sector. Potash is a vital input for fertilizer, and Canada supplies up to 85 per cent of U.S. potash.