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BHP (ASX: BHP), a leading global resources company, has unveiled the second cohort of six companies selected for its innovative BHP Xplor accelerator program. This program is strategically designed to support early-stage mineral exploration ventures in the discovery of essential resources crucial for the ongoing energy transition. The selected companies, chosen from a competitive pool of over 500 applicants, will each be granted up to US$500,000 and gain access to a network of internal and external industry experts. This initiative not only underscores BHP's commitment to fostering innovation in the resources sector but also captures the interest of investors in ASX mining stocks, as it directly impacts the growth and development of early-stage ventures in mineral exploration.
The BHP Xplor accelerator program aims to push the boundaries of conventional exploration methodologies. Over the course of six months, the chosen companies will collaborate closely with BHP Xplor to expedite the maturation of their geological concepts, positioning the projects for potential commercialization or partnerships. The program provides comprehensive support across technical, business, and operational aspects to enhance the development of participating companies.
Charlee Johnson, Head of the BHP Xplor Program, expressed excitement about the diversity and quality of submissions during the selection process. The program seeks to partner with these selected ventures, leveraging BHP's expertise and resources to bring their exploration projects to fruition. The collaborative effort aims to identify new concepts, gather critical data, and explore testing opportunities that could have disruptive impacts on the industry.
Sonia Scarselli, Vice President of BHP Exploration and Xplor, emphasized the need for accelerated exploration in new geographies and the advancement of new geologic concepts to meet the demands of the energy transition. The program aligns with BHP's objective of enhancing its pipeline of exploration prospects globally, contributing to the future shaping of its asset portfolio.
The six companies chosen for the BHP Xplor accelerator program are as follows:
- Longreach Mineral: A private company applying an innovative mineral systems approach to identify new tier 1 deposits critical to the energy transition, leveraging expertise in seismic geophysics and AI search tools.
- East Star Resources: A UK-based company listed on the London Stock Exchange exploring for copper and other base and precious metals in Kazakhstan.
- Pallas Resources: A private explorer focusing on large-scale copper, gold, nickel sulfide, and lithium systems in Kazakhstan.
- Hamelin Gold: A mineral exploration company listed on the Australia Securities Exchange, executing a modern exploration program at the West Tanami Gold Project in Western Australia.
- Cobre: An exploration company listed on the Australia Securities Exchange, concentrating on copper and base metals exploration in Botswana.
- Equivest Minerals: A private company deploying a technology platform combining statistical insights and machine learning to predict priority areas of interest within key regions for major metal deposits.
The BHP Xplor accelerator program stands as a testament to BHP's commitment to fostering innovation and collaboration within the mineral exploration sector, contributing to the ongoing global transition towards sustainable energy resources.
