Jul 23, 2021
Westshore shares soar on agreement with BHP
Ryan Bushell discusses Westshore Terminals
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Shares of Westshore Terminals Ltd. soared in early trading Friday, after the B.C.-based company announced a deal to provide port services to BHP Canada Inc.’s proposed Jansen potash mine in Saskatchewan.
The agreement is subject to approval by the board of BHP, as well as actual execution of the project. Then, the agreement would still be conditional on BHP making a final investment decision on stage one of the project.
If the Jansen project proceeds, a news release said the agreement requires Westshore to handle potash for BHP for a term to 2051, subject to extension. It would also require Westshore to construct the necessary infrastructure to handle potash at its Roberts Banks terminal by 2026 with BHP funding construction.
Further details on the agreement are expected if BHP announces a final decision to proceed with the Jansen project.
