(The following story by Elliot Njus appeared on The Oregonian website on August 11, 2010.)
PORTLAND, Ore. — An Australian mining company has its eye on a Port of Vancouver site for its new export facility.
BHP Billiton chose the port’s Terminal 5 to export potash, a mineral fertilizer, from a mine in Canada.
BHP Billiton chose the port’s Terminal 5 to export potash, a mineral fertilizer, from a mine in Canada. The BNSF Railway Co. and the Canadian Pacific Railway would provide overland transportation to the port.
The port and BHP Billiton are still negotiating a final lease agreement, and that agreement would have to be approved by the company and the port’s board of commissioners.
The specifics of the deal aren’t yet clear, in part because it’s still under negotiation. Theresa Wagner, a spokeswoman for the port, said the project “isn’t huge” in terms of permanent job creation, but that it would be a major driver of revenue.
“It’s a big project, the biggest project the port has ever seen,” Wagner said.
Today, the port handles about 5 million metric tons of freight annually. BHP Billiton expects to ship 8 million metric tons of potash from the port.
Port Executive Director Larry Paulson has urged the federal government to increase spending on rail systems as part of the Obama administration’s drive to double exports in five years. The Port could use $50 million to $70 million in federal funds for rail expansion, he said.