BHP shares fall 5.6% after $2.3B write-down on Canadian potash project delays and cost hikes

BHP Group reported a $2.3 billion impairment on its Jansen potash project in Saskatchewan due to increased costs and schedule delays. The second phase's cost estimate rose to $6.9 billion from $4.9 billion, pushing first production to late 2031. This marks the third cost increase in under a year, raising total committed investment to about $19.8 billion. Analysts warn of ongoing execution risks and a weak potash market outlook, leading to a cautious stance on BHP shares despite the project's strategic importance in fertilizer nutrients.