BHP Xplor is designed to help explorers drive their exploration programs with investment capital and business support on offer to accelerate exploration to de-risk subsurface concepts.

Participating companies will receive in-kind services, mentorship, networking opportunities with industry and investors and connections.

Upfront non-dilutive funding is also available, along with finance, legal, land and human relations support.

BHP Xplor vice president Sonia Scarselli said the program hoped to create disruptive results in copper and nickel exploration by identifying new concepts, leveraging new data and testing opportunities at a much faster pace than discoveries to date.

"We believe that building a better future is a responsibility we all share and that is why we are committed to accelerating exploration of critical resources needed for the energy transition, through this program," she said.

BHP chief development officer Johan van Jaarsveld said the demand for future facing commodities, such as copper and nickel to support the global energy transition was forecast to increase in the coming decades.

"The launch of BHP Xplor will help us accelerate in finding these critical commodities now and into the future," he said.