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1) BHP has a program that supports promising mineral explorers called Xplor. Today, the head of the Xplor program said that the program will be expanded beyond just copper and nickel, into exploration for uranium and lithium in September. In its first year, the program chose 7 projects around the world to support for 6 months, as the company is bullish on nickel and copper for the green transition. For its second year, the program wants to receive double the applications as it opens to more commodities according to Sonia Scarselli, the vice president of BHP Xplor. "We will be looking not just at copper and nickel, but at uranium and lithium and so on," Scarselli told a commodities conference in Singapore. The Xplor program offers financial and strategic support to mineral explorers and helps them with connections, while BHP gains exposure to new deposits at very early stages.
2) Teck Resources says that it is willing to entertain offers from potential suitors after it finishes its spinoff of its steelmaking coal business. It has recently an unsolicited offer by Glencore for almost $23 billion. Teck's shareholders will hold a vote on April 26th whether to separate the metals and coal businesses or not. If shareholders approve of the split, it is expected to happen at the end of May. At that point, Teck's board will be willing to listen to offers from prospective buyers. “The board and special committee are confident that the proposed separation into Teck Metals and Elk Valley Resources is in the best interests of Teck and all its stakeholders,” Chris Stannell, a spokesperson for Teck, said in an emailed statement. “Teck’s proposed separation positions Teck Metals and EVR for success and does not foreclose future opportunities for other value-enhancing transactions at the appropriate point and time.”