Global search
We are conducting a global search to find the next big exploration opportunity.
BHP Xplor
The BHP Xplor application period is closed. If you would like to reach out to our team, please follow the Contact us link below
BHP Xplor
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Meet Sonia Scarselli, VP BHP Xplor
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About BHP Xplor
BHP Xplor is dedicated to accelerating innovative, early-stage mineral exploration start-ups to find the critical resources necessary to drive the energy transition.
We are searching around the globe for the next generation of explorers that are ready to think about the earth’s minerals systems differently to unlock copper, nickel and other critical mineral deposits.
We are casting a broad net and are open to hearing from you. We welcome (a) first time entrepreneurs, fresh from research and/or academia with a great exploration idea and data, that are ready to take the next steps to build a team and explore, (b) established teams and companies, with an early-stage and potentially breakthrough idea with data that has yet to be de-risked, and/or (c) mature teams and companies, with an exploration concept, data, and some preliminary de-risking activities.
Why should you apply
BHP Xplor is offering a one-of-a-kind program that combines funding, capability building and access to networks to accelerate new geologic concepts and exploration opportunities. Successful applicants will receive the following:
Funding
Up to $500K in non-dilutive funding to help support your business during the BHP Xplor program period
Mentors
Access to technical mentors and experts in Geology, Engineering and Operations
Services
In-kind services in Finance, Legal, Land and HR support
Training
Business curriculum with training sessions
Connections
Connections to an external ecosystem of vendors & suppliers
Opportunities
The opportunity to pitch for investment at the end of the program to fund your exploration program
Offering a premier development program
To invite into an ‘accelerator’ program to help prepare for drilling and business success. Including coaching, generous stipend and access to our network.
An opportunity for capital funding
All participants have the opportunity to pitch for a funding including capital for operations, a minority equity position from Xplor and investment structure.
Forming a long-term partnership together
Partnering together to characterise and develop your resource including support from Xplor, capital access and validation of your company and its opportunity.
What to expect
BHP Xplor is open for applications through the end of October 2022. The selection process will follow in November 2022, and the first Cohort is expected to be announced by the end of the calendar year. Successful applicants will be invited to participate in Cohort 1, starting early 2023.
How does the program work?
The program is designed with three ‘Program Tracks’; Technical Readiness, Business Readiness and Operations Readiness. The requirements for each Program Track will be custom fit to meet each participant’s needs and the duration of the program may vary (~ 3 – 9 months).
At the conclusion of the program, each Participant will have the opportunity to Pitch to BHP for investment. BHP will receive a minority interest in return for the investment on mutually agreed terms.
Program Tracks
- Technical Readiness: Advance the geologic concept and characterize the technical risk
- Business Readiness: Establish the key infrastructure and operating model for your company
- Operations Readiness: Build operations and financial plan for your exploration strategy
Resources
Providing participants with open access to:
- Hands-on Xplor coaches
- BHP’s service providers & industry contacts
- BHP’s technical experts and mentors
- External advisors for professional services
- Xplor events
- University-led “masterclasses”
Pitch day
An opportunity to pitch for capital to fund a drill program that will start to define your resource.
Frequently Asked Questions
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What geographies are we targeting?Global, all over the world.
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What are the target commodities?Copper, nickel, and other critical minerals.
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What type of candidate are we looking for?We welcome (a) first time entrepreneurs, fresh from research and/or academia with a great exploration idea and data, and are ready to establish a company, (b) established teams and companies, with an early-stage and potentially breakthrough idea with data that has yet to be de-risked, and/or (c) mature teams and companies, with an exploration concept, data, and some preliminary de-risking activities. You may or may not have land access and may or may not have raised funding before.
A premier program
BHP Xplor will provide a premier program to help participants prepare for exploration operations and business success.
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Are you offering any financial support for the program?Yes, successful applicants will receive a generous stipend up to US$500K for operating costs during the program duration. At the end of the program, participants will have the opportunity to pitch for more substantial funding for the exploration plan.
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Will you offer one-on-one access to BHP employees?Yes, each participant will have access to coaches, mentors and technical & commercial experts. These will include BHP employees and non-BHP experts.
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What connections will be provided to external networks?Participants will be connected to BHP’s network of partners and vendors to support developing the business and preparing for exploration operations.
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How will BHP use the data submitted via the application process?
Please review our Terms and Conditions for full disclosure on how BHP Xplor will handle data and intellectual property through the application and selection process. If you have any questions or would like to discuss the terms & conditions further before submitting an application, please reach out to us via email at xplor@bhp.com.
The pitch
After the BHP Xplor program, participants will have the opportunity to pitch for substantial capital funding for the exploration plan.
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What happens at the end of the program?Participants will pitch to BHP for capital required to fund the exploration operation.
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What will BHP expect in return for the capital investment?A minority equity interest, possibly in the form of a simple agreement for future equity or a convertible note, with mutually agreed terms.
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How much capital is available?We have committed a dedicated portfolio for investing in BHP Xplor graduates. Although we are not disclosing the overall capital amount, each candidate will have the opportunity to access funding for their future exploration plans.