Marley Palin, Head of BHP Xplor, unearths the accelerator programme designed to expedite exploration efforts for early-stage companies seeking critical minerals crucial for the energy transition.
EMPOWERING XPLORATION
A unique six-month accelerator programme, BHP Xplor brings fresh thinking and innovation to the exploration space.
It was launched in 2023 by BHP, a world-leading resources company that produces essential commodities including iron ore, metallurgical coal, copper, and soon, potash.
For such resources, which are driving the energy transition, the reality is that finding new mineral deposits is getting tougher and traditional exploration approaches alone won’t be enough to meet the growing demand.
“We believe that by combining our industry expertise with the agility and creativity of early-stage explorers, we can accelerate the discovery of these essential commodities,” opens Marley Palin, Head of BHP Xplor.
“The programme was started because we could see the potential in combining the legacy of a major with the nimble, innovative approach of a junior to help fuel new ideas. Our goal is to empower exploration companies to take big swings at new ideas, knowing they have the support and resources to move quickly and make an impact.”
THINKING OUTSIDE THE BOX
BHP Xplor targets innovative, early-stage mineral exploration companies to find the critical resources necessary to drive the energy transition.
It is therefore looking for bold, ambitious explorers who aren’t afraid to challenge conventional thinking.
The companies it works with bring fresh perspectives to mineral exploration – whether through advanced geophysical techniques, artificial intelligence (AI)-driven data analysis, or new geological models that unlock previously overlooked regions.
“In the second half of the year, we put out a global call for applications, encouraging teams from around the world to present their ideas,” Palin tells us.
“Our selection process is rigorous – we look at the quality of their geological concepts, technical capabilities, and ability to execute. Beyond that, we want to see passion, creativity, and a willingness to take calculated risks.”
Once selected, BHP Xplor participants receive up to USD$500,000 in equity-free funding to help advance their projects.
Just as important, however, is the access they gain to BHP’s in-house experts, as well as industry-leading service providers who can help refine their exploration strategies.
“The goal is to give these companies the best possible chance of making a significant discovery – one that could contribute to the supply of critical minerals for decades to come,” outlines Palin.
BHP Xplor is therefore not just looking for incremental improvements, but businesses that think outside the box when it comes to exploration.
That could mean applying novel geophysical methods, leveraging machine learning (ML) for geochemical analysis, or reinterpreting old geological datasets in new ways.
“What excites us most is when we see companies challenge long-standing geological assumptions. Some of the most significant discoveries in history came from questioning what we thought we knew about mineral systems – that’s the kind of thinking we want to foster through BHP Xplor,” she enthuses.
TAILORED GUIDANCE
To help participants prepare for exploration operations and business success, one of the things that makes BHP Xplor unique is the support that goes alongside the funding.
“It’s not only about advancing a single exploration campaign but also building companies that can succeed in the long term,” Palin emphasises.
Over the course of the programme, participants receive tailored guidance in three key areas – technical, business readiness, and operational.
On the technical side, they have access to BHP’s world-class geologists, geophysicists, and data scientists, who help refine their geologic models and improve targeting strategies.
From a business perspective, BHP Xplor connects participants with mentors who can provide insights on everything from securing future investment to navigating regulatory approvals.
“We also expose them to potential partners, service providers, and investors, helping them build the relationships they need to scale,” adds Palin.
“Our goal is to equip these companies with the knowledge, tools, and networks to turn promising ideas into successful exploration programmes and, hopefully, major discoveries.”
The level of talent in BHP Xplor’s applicant pool this year is incredibly exciting, with companies from across the world – including Canada, the US, Serbia, Germany, Peru, Argentina, and Saudi Arabia – each bringing unique ideas and exploration approaches.
What stands out is not just the technical strength of these companies, but also their ambition and creativity.
“Many are using cutting-edge technologies or revisiting regions with fresh geological models, and we believe they have real potential to make meaningful discoveries,” excites Palin.
“One of the most rewarding parts of BHP Xplor is getting to work closely with explorers, sharing knowledge, and seeing how their projects evolve throughout the programme.”
PROGRAMME PRIORITIES
With an exciting 2025 cohort, and applications for 2026 set to open later this year, BHP Xplor is continuing to build on its success by focusing on three key priorities.
First, the programme wants to deepen its support for participants not just through funding, but by giving them even greater access to BHP’s expertise and technical capabilities.
“We’re expanding the ways we engage with them, providing more hands-on guidance and strategic advice,” Palin informs us.
BHP Xplor is also looking at how it can help exploration companies scale beyond the programme.
As one of the challenges early-stage explorers face is maintaining momentum after an initial injection of funding, it is working on ways to help them build sustainable business models, attract investors, and establish long-term partnerships.
Finally, BHP Xplor is always thinking about how it can evolve to stay ahead of the curve.
“The industry is changing rapidly, and we want to ensure we’re supporting the most innovative ideas and approaches.
“We’ll continue to refine the programme based on what we learn each year, ensuring we deliver real value to participants and the broader exploration ecosystem,” concludes Palin.
