BHP Xplor announces second accelerator program

BHP (ASX:BHP) has announced its second group of six companies to join the BHP Xplor accelerator program.

The accelerator program is designed to support early-stage mineral exploration companies in finding the critical resources needed to support the energy transition. It aims to support development across technical, business and operational aspects of the participating companies.

Furthermore, BHP Xplor provides BHP the opportunity to access some of the world’s most exciting exploration prospects, enhancing the pipeline of new opportunities which may shape the company’s future asset portfolio.

Each of the six companies will receive a grant of up to $760,803 (US$500k) plus access to a network of internal and external industry experts to accelerate growth and build exploration concepts.

Over the six-month program, the six companies will work together with BHP Xplor to speed up the maturation of their geological concepts to position the projects for commercialisation or partnership.

BHP Xplor Charlee Johnson commented on the program.

“The diversity and quality of the submissions amongst the applicants is amazing and inspiring,” she said.

“We are excited to partner with the selected cohort and help bring their ideas and passion for their exploration projects to life.

“We aim to accelerate this process and create disruptive results by identifying new concepts, data and testing opportunities.”

The six selected companies are Longreach Mineral, East Star Resources, Pallas Resources, Hamelin Gold, Cobre and Equivest Minerals.

BHP Exploration and Xplor vice president Sonia Scarselli says companies need to meet energy transition.

“Exploration for critical resources is moving slowly, but to meet the needs of the energy transition we must move at pace,” she said.

“We will be working together with the 2024 cohort to accelerate exploration in new geographies and advance new geologic concepts.”