A lucrative lease deal at the Port of Vancouver that would have triggered thousands of temporary construction jobs and garnered at least $250 million in private capital investment is off, at least for now.
The port said Friday that it and BHP Billiton, the Australian mining giant, have ended nearly four years of exclusive negotiations to export potash, a crop fertilizer, at the port. The two parties allowed an agreement that gave BHP exclusive rights to nearly 100 acres of property at Terminal 5 to expire as of June 16, the port said.
A BHP spokesperson said the company, for four years, negotiated with BNSF Railway and Canadian Pacific “regarding the provision of rail services.” The company, she said, was “unable to reach agreement regarding the rail service” into Terminal 5.