From a pool of more than 500 applications, BHP has chosen six firms for its second cohort of the BHP Xplor accelerator programme. The goal of the accelerator programme is to assist new mineral exploration firms in locating the vital resources required to facilitate the energy transition. In addition to having access to a network of both internal and external industry experts, each company will get a grant of up to US$500,000 to expand exploration prospects and accelerate its growth. The program's goal is to assist participating organisations with technical, business, and operational aspects of their growth. 

The Vice President of the BHP Exploration and Xplor Programme, Sonia Scarselli said: “Exploration for critical resources is moving slowly, but to meet the needs of the energy transition we must move at pace. We will be working together with the 2024 cohort to accelerate exploration in new geographies and advance new geologic concepts.”

Six companies with strong potential have been selected for the Xplor Programme

Of the six companies chosen to take part in the programme, Cobre Limited (ASX: CBE) was selected. Cobre is an exploration company that focuses on the exploration of copper and base metals in Botswana. These companies show strong potential, have innovative methods and BHP sees them as companies who are likely to excel in the coming years. The other companies chosen for the accelerator programme according to BHP’s website include; 

What other companies are taking part in the BHP programme? 

1. Longreach Mineral is a private company that is using innovative methods by using  BHP’s petroleum DNA to identify new tier 1 deposits critical to the energy transition. Their expertise in seismic geophysics and AI search tools have set them apart in the exploration industry. 
2. East Star Resources is based in the United Kingdom and listed on the London Stock Exchange, exploring copper and other base and precious metals in Kazakhstan. 
3. Pallas Resources is a private explorer who focuses on large-scale copper, gold, and nickel exploration in Kazakhstan.  
4. Hamelin Gold is an ASX-listed mineral exploration company that was established to execute modern exploration programs and is 100%-owned. It owns a ~3,000km2 West Tanami Gold Project (“West Tanami”) in Western Australia.  The Tanami Gold Province is known for its high-value and large-scale gold deposits as well as nickel-copper-PGE mineralised intrusions 
5. Equivest Minerals deploys technology by combining statistical insights on major locations of metal deposits. They leverage machine learning and mineral systems to predict priority areas in key regions. 

What does the BHP Xplor Programme mean for Cobre? 

• Cobre is considered an important and innovative actor in the mining space. 

• Cobre can benefit from additional financial and technical capacity in the execution of its projects. 

• Cobre has good prospects for revenue generation.

• Cobre’s strong market potential can be enhanced by its participation in the project. 

• Cobre has a strong technical team.

Cobre’s inclusion in the BHP Xplore programme highlights the company's ability to deliver long-term value to shareholders by leveraging innovative methods and strong technical capacity in its tenements that are 100% owned. BHP - an industry bigwig - selects companies with the best potential, which should provide greater confidence to shareholders about Cobre’s activities over the long run.