In theory, the best approach would be to have a separate lambda sensor for each cylinder but nobody does that as it would be too expensive! That way, you could optimise the combustion much more effectively. Some OEMs use multiple lambda sensors but this tends to be on V engines (V6, V8 etc).
As long as everything is working properly, it wouldnt make much difference, its only when you get an issue that something emerges.
I am not sure if the mini has a heated lambda sensor....if so, its not a good idea to put it further down the exhaust pipe as it will be calibrated to only start heating once it has passed its dew point (i.e. water is not condensing on it). For this reason, the lambda sensor is not used for the first 5 or 10 minutes after engine starting, it uses the ECU modelled value for lambda instead. Turning it on too early would shorten the life of the sensor quite dramatically.
In my experience, using a LCB with the lambda in the same position (i.e. close to the engine) has not given any problems with fault codes etc. These would be quickly flagged if the lambda value from the sensor did not agree closely with the modelled ECU lambda value, so it is quite practical to do this.