BHP Billiton has announced it is looking for a strategic partner who “will add value” for its $US15 billion Canadian potash project.
Chief executive of the mining giant Andrew Mackenzie told Financial Review Sunday BHP was talking to businesses interested in buying a stake in the project, reports the Fin.
“We get enormous benefits from having minority partners in our operations. At Escondida [in Chile], Rio Tinto has 30% and we get all the fire power of Rio Tinto and BHP Billiton that definitely enhances the returns that we get from that project,” says Mackenzie.
Mackenzie hopes investors will see the value of the mine to aid agriculture as the world’s population grows.
The AFR has reported analysts last week identified Rio Tinto and Anglo American as potential partners.
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