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Dona Ferentes said:
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.
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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"
 
Dona Ferentes said:
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.
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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
 
Smurf1976 said:
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
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Analysis of AMP, BHP and Flight Centre​

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

www.finnewsnetwork.com.au

Analysis of AMP, BHP and Flight Centre

25 Oct 2024 - Fund Manager Chris Pedersen discusses AMP, BHP Group and Flight Centre Travel Group.
www.finnewsnetwork.com.au www.finnewsnetwork.com.au
 
Smurf1976 said:
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.
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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
 
finicky said:
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:
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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. ;)
 
mullokintyre said:
BHP et al have been cleared in the Brazillian court case.
From Evil Murdoch Press
Mick
View attachment 187988
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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
 
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