VANCOUVER, BC, July 22, 2021 /CNW/ – Westshore Terminals Investment Corporation (TSX:WTE) (the “Corporation”) announced today that its wholly-owned subsidiary Westshore Terminals Limited Partnership (“Westshore”) has executed an agreement with BHP Canada Inc., a subsidiary of BHP Group, (“BHP”) to provide port services to BHP’s proposed Jansen Potash Mine in Saskatchewan. The agreement is subject to approval by the Board of BHP and execution by BHP, after which the agreement would still be conditional on BHP making a final investment decision on Stage 1 of the Jansen Project. These decisions are entirely within the discretion of BHP.
If the Jansen Project does proceed, the agreement requires Westshore to handle potash for BHP for a term to 2051, subject to extension. It also requires Westshore to construct the necessary infrastructure to handle potash at Westshore’s Roberts Bank Terminal by 2026, with BHP funding the construction.
If BHP announces a final decision to proceed with the Jansen Stage 1 Project, the BHP-Westshore agreement will become binding on BHP, at which time Westshore will provide further details concerning the agreement.
SOURCE Westshore Terminals Investment Corporation
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