BHP, the world’s largest mining company by market capitalisation, is strengthening its push into copper exploration in southern Africa while continuing to avoid direct exposure to the Democratic Republic of Congo, the continent’s largest copper producer.
The miner on Monday published the list of beneficiaries for the fourth intake of its Xplor programme, an early-stage exploration initiative designed to support junior mining companies developing minerals critical to the energy transition.
Among the ten companies selected for the 2026 cohort, only one operates copper projects in Africa: South Africa-based Orion Minerals. The decision highlights BHP’s continued focus on southern Africa, despite Congo’s dominance in global copper supply and earlier interest by the group in Congolese assets.
Since its launch in 2023, Xplor has provided each selected company with $500,000 in funding and access to BHP’s technical expertise. With the latest intake, the programme now includes 21 companies worldwide, including firms operating in Botswana such as Cobre Limited and Tutume Metals.
BHP said it selects participants based on the geological potential of their projects and their ability to contribute to the long-term supply of minerals such as copper and nickel, which are essential for electrification, renewable energy and electric vehicles.
Southern Africa focus
Orion Minerals’ core assets include the Prieska copper-zinc project in South Africa’s Northern Cape and the historic Okiep copper district. Both projects are considered advanced and are not directly part of the Xplor programme. BHP did not specify which projects or commodities justified Orion’s selection, but said the funding would support exploration activities across various South African companies in which Orion holds equity interests.
“Orion presented a clear and well-supported geological concept with strong potential in a future-facing sector,” said Tim O’Connor, BHP’s head of exploration. “Its technical approach, combined with the team’s capabilities and commitment to rigorous testing, makes it a strong addition to this year’s programme.”
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Although Xplor does not provide BHP with a direct commercial return, the programme can serve as a pathway toward deeper partnerships. Companies that complete the programme may later pursue joint ventures or investment agreements with the group.
That route was taken by Australia-based Cobre Limited, which joined the Xplor programme in 2024. In March 2025, BHP signed a deal to acquire up to a 75% interest in Cobre’s copper exploration projects in Botswana, committing up to $25 million in exploration funding.
Notably absent: Congo
All three Xplor beneficiaries currently operating in Africa are focused exclusively on southern Africa. BHP does not disclose unsuccessful applicants, making it unclear whether companies with projects in other parts of the continent, including Congo, applied to the programme.
The absence is notable given that Congo is Africa’s largest copper producer and the world’s second-largest, after Chile. The country is central to global copper and cobalt supply, but has also faced persistent challenges related to political risk, regulatory uncertainty and infrastructure constraints.
BHP currently has no operating assets in Congo, despite past interest. In the late 1990s, the company secured rights to acquire a stake in the Tenke Fungurume copper deposit but ultimately did not complete the transaction. The asset is now operated by China’s CMOC.
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In 2021, Bloomberg reported that BHP held talks with Ivanhoe Mines over a potential acquisition of its Western Foreland copper exploration assets in Congo. Neither company confirmed the discussions, and no deal materialised.
Analysts say Congo’s vast reserves could again attract BHP as global copper demand accelerates and supply risks rise in the coming decades. Forecasts from industry groups suggest structural copper shortages could emerge by the late 2030s or early 2040s as demand from electrification outpaces new mine development.
Competition intensifies
While BHP remains cautious, Congo continues to draw strong interest from other global players. Chinese firms dominate the sector, with CMOC, Zijin Mining and others expanding production. At the same time, investors from the United States and Gulf countries have begun increasing their exposure to Congolese copper assets.
BHP has signalled broader ambitions in Africa through investments elsewhere on the continent. In addition to Botswana, the group previously invested in Tanzania’s Kabanga nickel project in 2022, before exiting the asset in 2025.
For now, BHP’s African copper strategy remains anchored in politically stable jurisdictions in southern Africa, even as Congo consolidates its position at the centre of the global copper supply chain.
