ConTeXtMinimals/tex/texmf-osx-64/bin
In any case you can test this just by changing the name of either of the folders and try to typeset a file (you can change the name of the folder for example in the Finder). Do you use TeXShop or any other GUI application?
A last point: at the beginning of the ConTeXt minimals, at one point I installed the minimals in the /Application/ folder (directory) but had constantly problems due to the rights of writing and executing, I think. Now I have the Minimals in another place and everything works fine.
Good luck!
Best regards: OK