Australian (ASX) Stock Market Forum

BHP - BHP Group

The Olympic Dam copper mine is out of action for a week after electricity transmission towers transporting power to northern South Australia were damaged by wild storms.

The mine, about 560 kilometres north of Adelaide, has temporarily halted its operations, and its surface infrastructure was switched to “care and maintenance” mode, running off backup generators.

Tom Koutsantonis, South Australian energy minister, told reporters on Friday: “Olympic Dam will cease mining operations for five to seven days … It was a dramatic night.”

BHP said it was working with electricity transmission infrastructure group ElectraNet to determine the extent of the damage and the timeline for fixing it.


Brazil to sign deal with BHP, Vale over Mariana dam collapse on October 25, sources say (from Mining.Com)​


"The miner stated that the parties are negotiating a settlement proposal that would provide a total financial value of approximately R$170 billion ($31.7 billion) on a 100% basis to be delivered to the people, communities and environment impacted by the dam failure.

BHP said the negotiations between the parties are ongoing and no final agreement has been reached on the settlement amount or terms.

Vale on Friday forecast that its third quarter earnings will reflect 5.3 billion reais ($930.90 million) in new liabilities related to the Mariana dam collapse"
 
The Olympic Dam copper mine is out of action for a week after electricity transmission towers transporting power to northern South Australia were damaged by wild storms.
Adding a bit to that, two lines run from Davenport (near Port Augusta, a strong point in the SA electricity transmission system) to Olympic Dam and both are damaged.

To avoid any conspiracies or politics, I'll point out the problem is the transmission towers, that is the big steel towers holding up the lines, have been physically damaged. The problem isn't a lack of electricity as such, just a lack of being able to move it to where it's needed.

I'll avoid commenting on the timing given it's a listed company beyond saying the one week stated is obviously a round number guesstimate and is subject to revision. Putting up new towers isn't a daily event and it's very site-specific with access, geology etc. :2twocents
 
Adding a bit to that, two lines run from Davenport (near Port Augusta, a strong point in the SA electricity transmission system) to Olympic Dam and both are damaged.

To avoid any conspiracies or politics, I'll point out the problem is the transmission towers, that is the big steel towers holding up the lines, have been physically damaged. The problem isn't a lack of electricity as such, just a lack of being able to move it to where it's needed.

I'll avoid commenting on the timing given it's a listed company beyond saying the one week stated is obviously a round number guesstimate and is subject to revision. Putting up new towers isn't a daily event and it's very site-specific with access, geology etc. :2twocents

Analysis of AMP, BHP and Flight Centre​

STOCK WATCH
by Chris Pedersen October 25, 2024 07:02 PM

 
Adding a bit to that, two lines run from Davenport (near Port Augusta, a strong point in the SA electricity transmission system) to Olympic Dam and both are damaged.

To avoid any conspiracies or politics, I'll point out the problem is the transmission towers, that is the big steel towers holding up the lines, have been physically damaged. The problem isn't a lack of electricity as such, just a lack of being able to move it to where it's needed.
Off topic but to add to the power transmission issue.
The birth place of BHP, Broken Hill, has been seriously affected due to seven (7) transmission towers all downed by that same storm system.
Continued here
 
The case from South America has been resurrected by barristers in London for BHP and Vale's annihilation of a number of communities following the Mariana Dam collapse. It doesn't seem to have made much difference to the price although it may going forward. Materials are problematic with the Chinese cousins trying to be good communists, resurrect their economy, assist rogue nations like South Africa outwit the USA via BRICS and nobody sure whether we are out of danger on a recession. A long term hold of mine in my SMSF and a pick in the Y2024 Comp @debtfree.

bhp.png

gg
 
Wondered what the hell happened today. The pros generate these stories and 'plays' and take profits as the story collapses like a dropped blancmange.

From Market Matters afternoon report:
Keep the plebs guessing game by constantly moving the money around as they do.

I see bitcoin is spiking now, maybe get back to collecting toilet paper soon. ;)
 
BHP et al have been cleared in the Brazillian court case.
From Evil Murdoch Press
Mick
View attachment 187988
BHP is one of my picks in the 2024 Competition @debtfree .

I had intended posting on the news of the acquittal of BHP recently in Brazil in the Samarco case. It is nicely summarised by @mullokintyre above. This should make it easier to defend the case led by ambulance chasing lawyers in London atm. and the BHP price has ticked up a bit on the news and I have added.

gg
 
This could have gone under RIO or FMG obviously
BHP Held
From Market Matters morning report:

Commodities
Iron ore (Fe) remains above the psychological $US100 area; with the crisis in China’s steel market easing, more than half of mills are now touted to be profitable following the collapse in margins earlier this year. Data released on Saturday showed China’s factory activity continued to expand last month. The official manufacturing purchasing managers’ index reached 50.3, beating forecasts for 50.2 – prints above the 50-level are expansionary while below point to contraction. Another decent shot of Chinese stimulus should push the bulk commodity above $US120, which could ignite the local miners and ASX.
  • We like the risk/reward towards iron ore, around $US104/Mt, but we caution that the trend is neutral.
MM is cautiously bullish towards iron ore
Iron-ore.png
 
This could have gone under RIO or FMG obviously
BHP Held
From Market Matters morning report:

Commodities
Iron ore (Fe) remains above the psychological $US100 area; with the crisis in China’s steel market easing, more than half of mills are now touted to be profitable following the collapse in margins earlier this year. Data released on Saturday showed China’s factory activity continued to expand last month. The official manufacturing purchasing managers’ index reached 50.3, beating forecasts for 50.2 – prints above the 50-level are expansionary while below point to contraction. Another decent shot of Chinese stimulus should push the bulk commodity above $US120, which could ignite the local miners and ASX.
  • We like the risk/reward towards iron ore, around $US104/Mt, but we caution that the trend is neutral.
MM is cautiously bullish towards iron ore
BHP Upcoming events, 21 January 2025, 8:30 AM Melbourne time (approximate), BHP Operational Review, For the half year ended 31 December 2024. - This will be important to see the prices achieved for the half year. https://www.bhp.com/investors/financial-calendar
 
Top