• BHP launched applications for its 2026 Xplor program, an accelerator for junior mining companies exploring critical minerals.
• The program offers up to $500,000 in funding without equity participation, alongside six months of structured support.
• BHP has partnered with previous Xplor laureate Cobre, committing up to $25 million in exploration expenditures for its Botswana copper projects.

BHP, the world's most valuable mining group by market capitalization, opened applications on September 10, for its accelerator program targeting junior mining companies active in critical mineral exploration, including in Africa. Through this initiative, named BHP Xplor, the Australian company offers successful applicants up to $500,000 in funding, without taking an equity stake.

In addition to financial support, the program provides structured six-month assistance. This includes coaching sessions, access to experts, and a network of BHP's partner service providers. Laureates will also benefit from a tailored training program on international best practices, integration into a global community of alumni, and the opportunity to present their projects to investors or form partnerships with BHP after the program.

Regarding partnerships, BHP notably collaborated with Australian firm Cobre. A 2024 program laureate, Cobre utilized the funds for its exploration activities in the Kalahari Copper Belt, specifically the Kitlanya West copper project. Since then, BHP has signed an agreement to acquire up to 75% interest in Cobre's Kitlanya East and West projects, committing to fund up to $25 million in exploration expenditures.

This partnership exemplifies the ambition of the Xplor program, which the group presents as a means to accelerate the transformation of promising concepts into viable projects capable of contributing to the supply of minerals necessary for the energy transition. BHP estimates that by 2035, an additional 1 million tonnes of copper per year will be necessary to meet global demand, while the International Energy Agency anticipates a tripling of critical mineral demand by 2040.

Launched in 2023, the program has already benefited 21 companies, including Tutum Metals, an unlisted company active in copper and nickel in Botswana and a laureate of the first edition. Since 2023, only two companies operating in Africa have been selected, despite the continent holding nearly 30% of global critical mineral reserves.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange Jason Quenum