BHP shares fall by a year’s largest margin

BHP's shares declined by 5.6%, marking its largest drop in over a year, due to a $2.3 billion increase in costs for the Jansen potash project in Canada, stemming from inflation and design adjustments. The company raised its investment estimate for the project's second phase to $6.9 billion from $4.9 billion, while maintaining its annual expenditure forecast of $11 billion for 2027. The project is expected to become one of the world's largest potash mines, covering 10% of the global potash market. This increase represents the third consecutive rise in project costs and is part of the company's strategy to diversify revenue streams from copper and iron ore into potash.

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