Sonia Scarselli: BHP Disrupting Exploration to Meet Energy Transition Goals

TL;DR

BHP Explorer is an accelerator program that aims to expand BHP's search space globally, discover new opportunities, and support early-stage exploration companies and startups.

Transcript

thank you I'm Charlotte McLeod with the investing News Network and here today with me is Julius garcelli vice president at BHP Explorer thank you so much for joining me today great to see you thank you so much for having me today good to be here really nice to be speaking with you and I thought where we could start off in this conversation is just ... Read More

Key Insights

• 🛄 BHP Explorer aims to address the underinvestment in exploration by major mining companies.
• ❓ The program focuses on accelerating exploration activities to meet the increasing demand for critical resources.
• 💍 The 2023 cohort of participants includes companies with different maturities and focuses on various aspects such as acquiring licenses, engaging with local communities, and exploring technological advancements.
• 👨‍💼 Large miners may explore strategies like business development, mergers and acquisitions, and exposure to the junior market to build their pipelines.
• 🌱 BHP Explorer plans to expand its program in terms of commodities and will be accepting applications for the 2024 cohort.
• ❓ The program encourages companies from different industries and academia to apply with innovative exploration concepts.
• 🌐 Accelerating exploration and investing in technology can disrupt traditional mining processes and enable the industry to meet global supply requirements.

Questions & Answers

Q: What is the goal of the BHP Explorer program?

The program aims to expand BHP's search space globally and explore new jurisdiction opportunities while working with early-stage exploration companies and startups.

Q: How are participants selected for the program?

Participants are selected based on criteria such as the validity of their geological concepts, the strength of their leadership team, and their location and maturity. The goal is to build a portfolio with differences in maturity, jurisdiction, and risk profile.

Q: What support do participants receive from BHP during the program?

Participants receive financial support in the form of seed funding, as well as operational and technical support through mentoring, advising, and connections with internal and external experts. BHP helps them develop their vision, strategy, and exploration campaigns.

Q: Why is it important to accelerate exploration in the mining industry?

Accelerating exploration is vital to meet the goals of the energy transition and ensure a sufficient supply of critical resources. The traditional incremental approach to exploration is too slow, while investing in a full exploration campaign can significantly accelerate the process.

Summary & Key Takeaways

• BHP Explorer is a program by BHP that aims to explore new jurisdictions and expand their search space globally.

• The program selects participants based on metrics such as the validity of their geological concepts and the strength of their leadership team.

• Participants receive financial, operational, and technical support from BHP for six months, with the option to request further capital investment.