BHP (ASX: BHP), the world’s largest miner, and KGHM Polska Miedź (WSE: KGH) are joining forces to hunt for new copper deposits globally as demand for the metal rises.

The companies signed a memorandum of understanding to identify areas of mutual interest, exchange technical expertise and compare operating practices. The agreement could take their collaboration beyond regions where either company currently operates.

KGHM is the world’s second-largest silver producer and the European Union’s largest producer of mined copper with operations in Poland and assets in the US, Canada and Chile. BHP operates major mining and resource projects across Australia, Canada, Chile, Peru, Brazil and the United States.

“The world will need more copper, driven by traditional economic growth, the energy transition, and digital investments,” BHP CEO Brandon Craig said. “We are focused on unlocking high returning growth through innovative partnerships like this one.”

Building up

The agreement expands an existing relationship between BHP and KGHM in Chile, where Craig said the companies have worked together to improve their copper operations.

The MoU gives their teams a structure to assess potential projects and determine where combining their technical capabilities could unlock additional copper growth.

“The signed MoU provides a structured framework for further discussions and opens the way for an in-depth analysis of potential areas of cooperation,” KGHM president Remigiusz Paszkiewicz said.

The companies will initially refine shared priorities while assessing where knowledge sharing and comparisons of operational practices could produce tangible benefits.

Their ability to venture beyond existing footprints could widen the pool of prospective projects available to both miners.

Shared expertise

KGHM vice-president Anna Sobieraj-Kozakiewicz said exchanging experience among miners operating across different regions and jurisdictions could benefit the wider industry.

“The MoU provides a platform for engagement between KGHM and BHP and reflects our shared interest in exchanging perspectives and exploring potential opportunities for future collaboration,” she said.

The agreement remains an exploratory framework rather than a commitment to specific projects, with the companies first expected to refine their priorities and determine where cooperation could generate tangible value.