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The future of Nickel Stocks at least in the short to medium term looks bad, very, very bad.

BHP which produced 10% of global supply closing down its Kalgoorlie operation will not make much difference to the price. Indonesia has an insatiable demand for cash to grow its rapidly increasing population and is prepared to sell Nickel at whatever price it can get. It is ramping up Nickel production with the help of the Chinese.

Pig Nickel is being produced in increasing quantities and once the impurities are removed will again depress already low prices.

The normal cycle of demand, supply, opening and closing mines has been set on its head by the oversupply not being tempered by low prices. BHP made a wise move in closing Kalgoorlie.

gg
 
DJ Lundin Mining Approaches BHP to Buy Copper Miner Filo, Bloomberg Reports
BHP
down
$43.40
-$0.16 (-0.4%)$43.36$43.41
13 Jul 2024 06:03:22
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--Lundin Mining reached out to BHP Group about a joint effort to acquire copper miner Filo, Bloomberg News reported Friday.
--Lundin proposed buying out other Filo shareholders and then merging Filo's Filo del Sol copper mining project on the Chile-Argentina border with Lundin's own nearby Josemaria project, Bloomberg News said.
--The Lundin family already owns a 32% stake in Filo, while BHP owns nearly 6%, according to Bloomberg News.
--It wasn't clear how much interest BHP had shown in the proposal, Bloomberg News reported.
Full article at https://www.bloomberg.com/news/arti...-for-copper-miner-filo?srnd=homepage-americas
Write to Victor Swezey at victor.swezey@wsj.com; @vicswezey
(END) Dow Jones Newswires
July 12, 2024 16:03 ET (20:03 GMT)

i hold BHP
 
Business negotiations
An update to @divs4ever post - BHP Group and Lundin Mining Corp are privately discussing a potential joint bid for Filo Corp. These discussions are at an early stage, and there is no guarantee that the two companies will team up on a bid for Filo. Neither company has officially acknowledged these discussions. The information is based on insider knowledge that has been leaked. It’s unclear how receptive BHP is to the proposal.

Skate.
 
BHP Release - United Kingdom group action (12/07/2024)
BHP has reached an agreement with Vale regarding legal actions in the UK and Netherlands related to the 2015 Fundao Dam failure in Brazil, which was operated by their joint venture, Samarco.

Over 600,000 claimants have sued BHP in the UK, but BHP believes it is not liable and will defend itself, arguing that the UK case duplicates efforts already underway in Brazil.

In March 2024, a new lawsuit was filed in the Netherlands against Vale and Samarco’s Dutch subsidiary by about 78,000 Brazilian claimants. BHP is not involved in this case.

BHP and Vale have agreed to share any potential payments (50% each) to claimants in these cases without admitting liability. This agreement builds on a 2016 Framework Agreement where BHP and Vale agreed to fund the Renova Foundation, which compensates those affected by the dam failure.

BHP had previously filed a claim against Vale to ensure Vale would share any damages BHP might have to pay in the UK case, but this claim will now be withdrawn due to the new agreement. BHP Brasil continues to support remediation efforts in Brazil through the Renova Foundation, which has already provided around $3.5 billion in compensation and aid to about 430,000 people.

Skate.
 
@mullokintyre, continuing the discussion on this, Gary Glover, 'finer market points' on YouTube, has just pointed out the break below $42 and is allowing for a possibility of it being a dip (false break) before a quick return to to the range above $42. But, since the outcome can't be known yet, he is also advising a wait and see. To me it doesn't look too promising and no buy sign yet.

Held
Holding

WEEKLY
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finicky said:
@mullokintyre, continuing the discussion on this, Gary Glover, 'finer market points' on YouTube, has just pointed out the break below $42 and is allowing for a possibility of it being a dip (false break) before a quick return to to the range above $42. But, since the outcome can't be known yet, he is also advising a wait and see. To me it doesn't look too promising and no buy sign yet.

Held
Holding

WEEKLY
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The media have attacked Iron ore news, going to be an interesting few months ahead.

It all seems to be hinged with what China and the US are doing, saying that IO has been known to fluctuate a fair bit.

Holding & FMG.
 
divs4ever said:
i am not sad , but neither am i so delighted that i want to throw more cash into it ( at these sort of prices )
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Rabbithop said:
May hit $30 - $35 by end of Nov USA elections? Sit tight n wait.
I am a sad holder.
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I've been mulling over this, can't be good....
CommSec

@CommSec
·
2h

China's central bank surprised markets for a second time this week by conducting an unscheduled lending operation at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the struggling economy.
 
China's doing it tough, must affect iron ore price...housing in trouble, everything China appears to be in a slump........
 
finicky said:
Yeah don't worry about BHP if you are an investor.
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have bought them on the logic they are too big to fail ( without the Australian economy imploding as well )

the larger holding was bought before the demergers of S32 and the petroleum arm ( WDS ) and cost me under $30

so am not biting my nails but am getting frustrated at all the U-turns they have done in the last few years , maybe they dream too big and can't organize a profitable project ( in the last 7 years )
 
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