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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.
 

Analysis of AMP, BHP and Flight Centre​

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

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
 
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.



gg
 
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
 
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
 
@Garpal Gumnut
From Market Matters this morning:

"Overnight, commodities and stocks embraced the commentary of President Xi Jinping’s decision-making Politburo. The intentions of Beijing appear clear, and they’re encouraging for the ASX’s resources names:

  • Following the releases, copper (Cu) rallied +2%, crude oil +1.7%, iron ore +2.7% and the $A advanced +0.9%, returning to the 64.5c area.
  • On the stock front, copper ETFs gained +4.5%, gold ETFs +4%, while BHP is set to open up more than +3% this morning.
  • Heavyweight Cu play Freeport McMoRan (FCX US), which we hold in our International Equities Portfolio, surged +4.5%."
 
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finicky said:
Market Matters afternoon :
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It could have been worse, they didn't drop back to the lows they've been sitting on for the past few months. I think it's more market sediment at this stage, most of the ASX stocks went down this week and then you had a bit of a recovery after today's mid day like the banking sector.
 
BHP is one of my picks in the 2025 Competition @mullokintyre . It's a well known Fe ore, copper and other metals miner which is looking to do deals internationally to increase it's footprint there and possibly get back in to coal. The Samarco disaster in S. America remains a threat to it's balance sheet but it seems to be containing the UK lawyers who are fighting on behalf of the severely affected unfortunate camponeses in Brasilia for their own dark motives.

The chart shows it can be bought for close to pre covid prices, so depending on the Bronze Loons imperial pronouncements over the next few weeks we should get some indication of whether the world economy will take off, requiring BHP's materials, or tank.

gg
 
i am not so sure demand ( for the commodities ) is the problem at BHP , it loves to buy LARGE headline-grabbing assets , and then start long-winded development plans .. seems to take forever to get it's ducks lined up on any project

for example it finally decided to acquire Mincor to add synergy to Nickel West , and took so long about that Nickel West had to be put in mothballs

( i held Mincor and hold BHP )
 
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