LONDON - GreenX Metals Limited has been chosen as one of the participants in the BHP (ASX:BHP) Xplor accelerator program for 2025, a scheme designed to foster the development of early-stage mineral exploration companies. The program, which was initiated in 2023, aims to accelerate exploration activities that support the global energy transition.
GreenX will receive a non-dilutive grant of up to $500,000 from BHP along with in-kind services, including mentorship and access to BHP's global network and expertise. This funding is intended to advance exploration efforts at GreenX's Tannenberg Copper Project in Germany over a six-month period. The company plans to utilize the grant for geophysical programs within the Tannenberg license area, which has historically been a site for copper mining and has shown potential for new discoveries of copper and silver mineralization.
The selection process for the BHP Xplor program was competitive, with GreenX being one of eight companies chosen from a pool of hundreds of applicants. The criteria for selection included the prospective nature of the critical-mineral projects and the commitment to innovative geological concepts and data processing methods.
Ben Stoikovich, CEO of GreenX Metals, expressed enthusiasm for the opportunity and the recognition of the Tannenberg project's potential. He highlighted the project's target of Kupferschiefer style copper mineralization, which is a significant source of global copper production and reserves.
Marley Palin, Head of Xplor at BHP, congratulated the selected companies, emphasizing the high standards required for participation in the program. Palin noted that GreenX had met these standards and that BHP is looking forward to the partnership.
The program also includes certain exclusivity, pre-emption, and data-sharing rights. During the six-month term, GreenX has agreed not to undertake certain transactions without BHP's consent and to provide BHP with progress reports and technical data from the Tannenberg project.
This initiative is part of a broader industry effort to support the discovery and development of mineral resources essential for the energy transition. The selection of GreenX for the BHP Xplor program is based on a press release statement from the company.
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