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