African Continent's Key Minerals: BHP Launches Its 2026 Xplor Program for Early-Stage Mining Startups
¬ BHP has launched its 2026 Xplor program, which aims to provide accelerators for early-stage mining companies exploring key minerals
¬ The program offers up to $500,000 in funding (without equity participation), as well as six months of structured support
¬ BHP has partnered with previous Xplor winner Cobre, committing up to $25 million in exploration spending for its Botswana copper project
As the world's largest mining group by market capitalization, BHP launched the application for its accelerator program on September 10, targeting early-stage mining companies active in key mineral exploration (including Africa). Through this initiative called "BHP Xplor," the Australian company provides successful applicants up to $500,000 in funding without requiring equity ownership.
In addition to financial support, the program also offers six months of structured assistance, including mentorship sessions, expert consultation, and access to BHP's network of partner service providers. Winners will also benefit from a customized international best practice training program, integration into a global alumni community, and opportunities to present their projects to investors or establish partnerships with BHP after the program concludes.
In terms of partnerships, BHP specifically collaborated with Australian company Cobre. As a winner of the 2024 program, Cobre used the funding for exploration activities in the Kalahari Copper Belt, particularly the Kitlanya West copper project. Subsequently, BHP signed an agreement to acquire up to 75% interest in Cobre's Kitlanya East and West projects, and committed to providing up to $25 million in exploration spending.
This collaboration highlights the ambitions of the Xplor program, which the group sees as a means to accelerate turning promising ideas into viable projects that can contribute to the supply of minerals needed for the energy transition. BHP estimates that an additional 1 million tons of copper per year will be needed by 2035 to meet global demand, while the International Energy Agency predicts that demand for critical minerals will double by 2040.
The program was launched in 2023 and has already benefited 21 companies, including Tutum Metals, a non-publicly traded company operating in Botswana focusing on copper and nickel, and a first-time winner. Since 2023, only two companies operating in Africa have been selected, despite the continent holding nearly 30% of the world's critical mineral reserves.
Source: rfi
Original: www.toutiao.com/article/1843052385783816/
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