• BHP selected South Africa’s Orion Minerals for its Xplor program but made no move into the Democratic Republic of Congo, Africa’s largest copper producer.

• Each Xplor beneficiary receives $500,000 and technical support, with 21 companies selected since 2023, including firms active in Botswana.

• Despite past talks over Congo assets, BHP continues to focus its African copper strategy on southern Africa.

BHP, the world’s largest mining company by market capitalization, published on Monday, February 2, the list of beneficiaries for the fourth edition of Xplor, its support program for junior mining companies focused on energy transition minerals.

Among the ten selected companies, one operates in copper in Africa: South Africa-based Orion Minerals. Although BHP announced plans several years ago to enter Congo, the group has yet to return, even indirectly, to Africa’s leading copper producer.

Since 2023, each Xplor beneficiary has received $500,000 in funding and technical support from BHP experts. BHP selects beneficiaries based on their projects’ ability to contribute to the long-term supply of critical minerals such as copper and nickel. With the 2026 intake, the program now includes 21 companies, including Botswana-based Cobre Limited and Tutume Metals.

Orion’s flagship South African assets include the future Prieska copper-zinc mine and the Okiep copper mine. Although these projects remain outside the Xplor program due to their advanced development stage, BHP has not disclosed which projects or minerals justified Orion’s selection. BHP will allocate the funding to various South African companies in which Orion holds equity stakes.

“Orion presented a clear and well-supported geological concept with strong potential in a future-facing sector,” said Tim O’Connor, BHP’s head of exploration. “Its technical approach, combined with the team’s capabilities and commitment to rigorous testing, makes it a strong addition to this year’s program.”

Although BHP ranks among the world’s leading copper producers, Xplor does not include a direct commercial return for the group. However, selected companies may pursue partnerships with BHP after completing the program. Australia-based Cobre Limited followed that path after joining the 2024 cohort. In March 2025, BHP signed a deal to acquire up to a 75% interest in Cobre’s copper projects in Botswana, in exchange for an exploration investment of up to $25 million.

Absence in the DRC

All three Xplor beneficiaries operating in Africa currently hold projects exclusively in southern Africa. Observers cannot determine whether companies from other regions of the continent applied, as BHP does not disclose unsuccessful applicants. However, Africa hosts targeted minerals beyond southern regions, particularly in the Democratic Republic of Congo, Africa’s leading copper producer and the world’s second-largest.

BHP currently runs no operations in Congo, although the country’s copper reserves have repeatedly drawn the group’s attention. At the end of the 20th century, BHP secured rights to acquire a stake in the Tenke Fungurume copper deposit but did not complete the transaction. In 2021, Bloomberg reported talks between BHP and Ivanhoe Mines, Congo’s largest copper producer, over a potential acquisition of Ivanhoe’s Western Foreland exploration project.

Neither company confirmed those discussions. However, analysts cite growing global copper demand and the risk of supply shortages by the late 2030s or 2040s as possible drivers of renewed interest in Congo. While BHP never finalized a deal with Ivanhoe, the group later confirmed its broader African ambitions through projects in Botswana and Tanzania. BHP exited Tanzania’s Kabanga nickel project in 2025 after investing in the asset in 2022.

Congo’s copper reserves continue to attract strong competition. China remains dominant through companies such as CMOC, which now operates the Tenke copper asset once considered by BHP. Meanwhile, investors from the United States and Gulf countries are gradually increasing their presence.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange J.A de BERRY QUENUM