Potash Handling Contract to Proceed

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[{"type":"text","content":"\n \n \n \n Potash Handling Contract to Proceed\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n Aug. 17, 2021\n \n \n /CNW/ - On\n \n July 22, 2021\n \n , Westshore Terminals Investment Corporation (TSX: WTE) (the \"Corporation\") announced that its wholly-owned subsidiary Westshore Terminals Limited Partnership (\"Westshore\") had entered into a conditional agreement (the \"Agreement\") to provide services to BHP Canada Inc. (\"BHP\"). As a result of BHP Group's final investment decision to proceed with the Jansen Stage 1 project, the conditions precedent in the Agreement have now been satisfied.\n \n \n \n \n The Agreement requires Westshore to construct the necessary infrastructure to provide port services to BHP's\n \n Jansen\n \n potash mine in\n \n Saskatchewan\n \n (the \"Jansen Mine\") for a term to 2051, subject to extension.\n \n \n \n \n \n Construction of Potash Facilities\n \n \n \n \n \n Westshore is designing and will construct the necessary infrastructure to handle potash, including a potash dumper, storage building and associated conveying systems. In addition, certain existing infrastructure at Westshore's terminal will be modified to support handling potash. Potash will be loaded only at the terminal's Berth 2, which will continue to be available for loading coal. Coal operations are expected to continue without undue disruption through the construction phase.\n \n \n \n \n Westshore must obtain certain permits in order to commence construction. Westshore has been in discussion with relevant authorities, principally the Vancouver Fraser Port Authority (\"VFPA\").  Westshore anticipates that the required permits will be issued in the first half of 2022, following which construction will commence. The Agreement provides that the potash infrastructure must be available by mid 2026.\n \n \n \n \n BHP will substantially fund the construction, with Westshore being responsible for construction costs in excess of the agreed budget. Westshore will also contribute up to...

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