BHP - BHP Group

[vishalt]

I hope it doesn't.

I hope Vale & Xstrata merge and then buy BHP.

Then most of us BHP holders will be set for retirement or atleast buy a Jaguar or one of them trucks the miners drive!

 

[cordelia]

I hope it doesn't.

I hope Vale & Xstrata merge and then buy BHP.

Then most of us BHP holders will be set for retirement or atleast buy a Jaguar or one of them trucks the miners drive!

well I am a bit cautious right now.....I know the price of BHP has increased but I am waiting for a few more of my signals before I go in. I won't pick the bottom but once BHP takes off there willbe plenty of profit..... Good luck to those who are already holding. I nearly bought in today but thought better of it. There wasn't the volume to support it..

I love BHP

 

[vishalt]

That's the problem with BHP though, when it runs its extremely hard to catch and it just runs too hard at times. Buying on dips really has been a stellar tactic, or if you had enough guys to buy a bit during the correction!

 

[Miner]

You do realise that BHP supplies coal to these power stations in SA? And that coal mines consume mainly diesel powerwise

And of course RIO has no automated mines

Dear Haemitite
Thanks for your update and increasing my knowledge base.
RIo has done the automated operation of mines some two years back on trial. Ironically I have witnessed it personally - won't get any more from me on this . Now it is in public domain since last two months and please follow recent posting by Mr Sam Walsh CEO of RTIO.
What i meant by automated mines - there would be no crusher operator and they will be actually sitting in Perth St Georges Office.

Thanks any way on the update on coal front.

Regards

 

[Garpal Gumnut]

BHP is a beautiful stock to chart, all human life is there. Asutralian's hopes and dreams, their super and future often rest on this little miner.

I have been following BHP for many years.

I enclose a weekly chart from mid 1998 to the present.

Firstly it is important to note that BHP remains in a primary uptrend and should it continue, confirmation will occur when it goes through its previous all time high of $47.70.

However when I stood at the other end of the verandah from the screen I noticed a pattern which should urge some caution.

BHP may be in a head and shoulders pattern in a larger as well as a more recent time frame.

The gold trendline shows longer term longer time support and the blue the shorter term support. The trading range which I expect BHP to trade in should it fall is $23 to $30. I'll certainly be topping up below $30 and definitely at $23 should this "correction" continue. The shoulders are shown as big and little, in the respective time frames. The possible heads are the same, the recent highs.

I would be wary therefore of a rally to $40 especially on low volume as it may auger a retracement and fulfillment of the head and shoulders hypothesis.

So I'll be buying if it continues down and watching volume if it recovers.

gg

It appears as if BHP is doing a classical Elliot Wave down since its high at $47.70. If volume falls in the next few weeks it may challenge these lows at just above $30 and reach $25 or so, or lower.

gg

 

[the barry]

It appears as if BHP is doing a classical Elliot Wave down since its high at $47.70. If volume falls in the next few weeks it may challenge these lows at just above $30 and reach $25 or so, or lower.

gg

Dont know why you bother to look at the charts on this one. If the market goes up, so will bhp and vice versa if the market goes down. If the US continues to rally these prices wont stay around for long. Then you have to add in chinas problems which is going to see short term (at least) strength in commodities prices. Will bounce back over 40 this coming week on chinas problems alone.

 

[haemitite]

Dear Haemitite
Thanks for your update and increasing my knowledge base.
RIo has done the automated operation of mines some two years back on trial. Ironically I have witnessed it personally - won't get any more from me on this . Now it is in public domain since last two months and please follow recent posting by Mr Sam Walsh CEO of RTIO.
What i meant by automated mines - there would be no crusher operator and they will be actually sitting in Perth St Georges Office.

Thanks any way on the update on coal front.

Regards

Every mine I have seen has a remote control room for process plant and truck allocation. And the Citect control systems can and are be maintained and run remotely

But truly automated mines with driverless trucks etc are a long way off.

 

[Nyden]

Dont know why you bother to look at the charts on this one. If the market goes up, so will bhp and vice versa if the market goes down. If the US continues to rally these prices wont stay around for long. Then you have to add in chinas problems which is going to see short term (at least) strength in commodities prices. Will bounce back over 40 this coming week on chinas problems alone.

Right now you're feeling the euphoria of recent events, but if things turn sour again - suddenly charts will hold relevance again.

Possible interest rate rise on Tuesday, possible increase in bid for Rio on Monday/Tuesday as well ... frankly, I can see a lot of risk here.

 

[Garpal Gumnut]

Dont know why you bother to look at the charts on this one. If the market goes up, so will bhp and vice versa if the market goes down. If the US continues to rally these prices wont stay around for long. Then you have to add in chinas problems which is going to see short term (at least) strength in commodities prices. Will bounce back over 40 this coming week on chinas problems alone.

Thanks, we'll see.

The recent rise to alltime highs and the recent twin lows in low 30's have been on falling volume.

I'll be keeping my gumnuts until BHP gets down to $25 which is where the long term trendline will provide support.

gg

 

[Kauri]

Every mine I have seen has a remote control room for process plant and truck allocation. And the Citect control systems can and are be maintained and run remotely

But truly automated mines with driverless trucks etc are a long way off.

Major components of the ’mine of the future’ are being commissioned in Rio Tinto Iron
Ore operations in 2008 and 2009 including establishing a Remote Operations Centre
(ROC) in Perth to manage operations in the Pilbara mines hundreds of kilometres away.
This allows operators overseeing Rio Tinto Iron Ore mines and process plant facilities to
be physically located in Perth, Western Australia.
Remote control ‘intelligent’ trains, drills and trucks will be operational within Rio Tinto Iron
Ore during 2008. Humans will no longer need to be hands on as all this equipment will be
‘autonomous’ – able to make decisions on what to do based on their environment and
interaction with other machines. Operators will oversee the equipment from the ROC.
Tom Albanese said, “Rio Tinto is changing the face of mining. We have at least a three
year start on the rest of the industry, which has focused on discrete technologies rather
than modernising the whole mine-to-port operation. We’re aiming to be the global
leaders in fully integrated, automated operations. It will allow for more efficient operations
and directly confront the escalating costs associated with basing employees at remote
sites, giving us a competitive advantage as an employer along the way."​

Remote Operations Centre​

A Remote Operations Centre (ROC) will be built for Rio Tinto near Perth’s domestic
airport. When completed in 2009, the ROC will house at least 320 employees who will
work with Pilbara-based colleagues to oversee, operate and optimise the use of key
assets and processes, including all mines, processing plants, the rail network, ports and
power plants. Operational planning and scheduling functions will also be based in the​

ROC.

Cheers
...........Kauri

 

[kengaikl]

i dont no why people bother with technical analysis. Really does it work?? i got a friend who does it and i just go opposite to what he says and that seems to work.

 

[Nyden]

i dont no why people bother with technical analysis. Really does it work?? i got a friend who does it and i just go opposite to what he says and that seems to work.

Ha. Lately no form of analysis seems to work accurately, too much volatility, & the unpredictable nature of human emotion causes the markets to be very difficult to play at the moment. Down on bad news, up on bad news, sideways on bad news, hmmm ... only consistent thing here is bad news :::

 

[Kauri]

Right now you're feeling the euphoria of recent events, but if things turn sour again - suddenly charts will hold relevance again.

Possible interest rate rise on Tuesday, possible increase in bid for Rio on Monday/Tuesday as well ... frankly, I can see a lot of risk here.

LoLoL only here. .. Mind you.. risk is the only thing you can control..
Cheering .........
.........Kauri

 

[Nyden]

LoLoL only here. .. Mind you.. risk is the only thing you can control..
Cheering .........
.........Kauri

: BHP is our whole index! Risk here, means risk for the all ords : I thought that was implied! (Kidding!)

Don't mind me though, I'm just a wondering lunatic

 

[Garpal Gumnut]

i dont no why people bother with technical analysis. Really does it work?? i got a friend who does it and i just go opposite to what he says and that seems to work.

What works for you is what works.

TA works for me.

It doesn't for your mate, but then it does for you if you are a contrarian to his advice !!

BHP is a good stock to follow on TA as it usually trends for long periods of time then breaks out.

Its behaviour recently is new territory for everyone. Make your own mind up is the best way to go.

gg

 

[haemitite]

Major components of the ’mine of the future’ are being commissioned in Rio Tinto Iron​

Ore operations in 2008 and 2009 including establishing a Remote Operations Centre
(ROC) in Perth to manage operations in the Pilbara mines hundreds of kilometres away.
This allows operators overseeing Rio Tinto Iron Ore mines and process plant facilities to
be physically located in Perth, Western Australia.
Remote control ‘intelligent’ trains, drills and trucks will be operational within Rio Tinto Iron
Ore during 2008. Humans will no longer need to be hands on as all this equipment will be
‘autonomous’ – able to make decisions on what to do based on their environment and
interaction with other machines. Operators will oversee the equipment from the ROC.
Tom Albanese said, “Rio Tinto is changing the face of mining. We have at least a three
year start on the rest of the industry, which has focused on discrete technologies rather
than modernising the whole mine-to-port operation. We’re aiming to be the global
leaders in fully integrated, automated operations. It will allow for more efficient operations
and directly confront the escalating costs associated with basing employees at remote
sites, giving us a competitive advantage as an employer along the way."
Remote Operations Centre
A Remote Operations Centre (ROC) will be built for Rio Tinto near Perth’s domestic
airport. When completed in 2009, the ROC will house at least 320 employees who will
work with Pilbara-based colleagues to oversee, operate and optimise the use of key
assets and processes, including all mines, processing plants, the rail network, ports and
power plants. Operational planning and scheduling functions will also be based in the​

ROC.

Cheers
...........Kauri

Remote Ops Centres are nothing new. This one is simply located in Perth rather than at site

The statement does not say that RIOs entire truck operation will be automated- ie the fact that that Remote Control Room isn't due till next year makes this look like another RIO spin gimmick. One truck somewhere as a trial perhaps?

The language is overbown, Trucks will hardly be making a decision on ore v waste in their "envirornment". Despatch has been used to allocate trucks for the last decade, driverless trucks would be an advancement. But with the safety issues I'll believe it when I see it

 

[Kauri]

i dont no why people bother with technical analysis. Really does it work?? i got a friend who does it and i just go opposite to what he says and that seems to work.

Ha. Lately no form of analysis seems to work accurately, too much volatility, & the unpredictable nature of human emotion causes the markets to be very difficult to play at the moment. Down on bad news, up on bad news, sideways on bad news, hmmm ... only consistent thing here is bad news :::

Can't for the life of me understand... BHP has not only conformed near spot on with the E/W analysis I use.. (W3 at 1.618 of W1) but has also conformed to the one of the oldest forms of T/A.. namely horizontal S/R... despite the apparent "unpredictable nature of human emotion causes the markets to be very difficult to play at the moment." I think that you will find that people who are in step and are actually trading the markets are having a ball...

find a setup...find an instep timeframe... quantify your risk... and ignore what the experts of the press say.. after all.. if no-one had told me that the market was in turmoil.. going by my chart.. BHP is not that much different volatility wise since OCT07-JAN08. as it was from Dec06-OCT07... except it is going down, not up.. I thunk..
Cheers
...........Kauri

 

[Kauri]

Remote Ops Centres are nothing new. This one is simply located in Perth rather than at site

The statement does not say that RIOs entire truck operation will be automated- ie the fact that that Remote Control Room isn't due till next year makes this look like another RIO spin gimmick. One truck somewhere as a trial perhaps?

The language is overbown, Trucks will hardly be making a decision on ore v waste in their "envirornment". Despatch has been used to allocate trucks for the last decade, driverless trucks would be an advancement. But with the safety issues I'll believe it when I see it

The mining company recently began operating the processing plants for its West Angelas and Hope Downs mines from a site in Perth's city centre to allow the operators to live on the coast rather than fly in and out of the remote Pilbara locations. The new operations centre near the airport should be completed next year, giving Rio enough space to run its railway system from the same location.
"As we look ahead, it's increasingly hard to attract the number of new people we need and base them in the Pilbara or create fly-in/fly-out solutions," the chief executive of Rio, Tom Albanese, said yesterday. "You may still see more employees in total, but there will be a larger amount of tonnes produced per employee with the automation."
Rio Tinto has been successfully trialling automated drill rigs, trucks and trains at West Angelas, following a failed effort at its Tarong coalmine in Queensland during the 1990s. "We didn't feel the technology was there to safely put automated equipment in the same space as humans, so we wound back our program," Mr Albanese said of the earlier Tarong tests.

 

[Nyden]

Can't for the life of me understand... BHP has not only conformed near spot on with the E/W analysis I use.. (W3 at 1.618 of W1) but has also conformed to the one of the oldest forms of T/A.. namely horizontal S/R... despite the apparent "unpredictable nature of human emotion causes the markets to be very difficult to play at the moment." I think that you will find that people who are in step and are actually trading the markets are having a ball...

find a setup...find an instep timeframe... quantify your risk... and ignore what the experts of the press say.. after all.. if no-one had told me that the market was in turmoil.. going by my chart.. BHP is not that much different volatility wise since OCT07-JAN08. as it was from Dec06-OCT07... except it is going down, not up.. I thunk..
Cheers
...........Kauri

Yes, but I'm not a trader, well - I guess I am to an extent, but only for the medium term, & my appetite is for risk is very minimal right now, so I hate volatility!

The only problem is ; as to what I was referring, is that no matter what your form of analysis is at the moment; be it T/A or fundamental - any number of factors can hit that out of whack very quickly. The US seems to dominate our market at the moment, not analysis. At least, that's my opinion :

 

[haemitite]

The mining company recently began operating the processing plants for its West Angelas and Hope Downs mines from a site in Perth's city centre to allow the operators to live on the coast rather than fly in and out of the remote Pilbara locations. The new operations centre near the airport should be completed next year, giving Rio enough space to run its railway system from the same location.
"As we look ahead, it's increasingly hard to attract the number of new people we need and base them in the Pilbara or create fly-in/fly-out solutions," the chief executive of Rio, Tom Albanese, said yesterday. "You may still see more employees in total, but there will be a larger amount of tonnes produced per employee with the automation."
Rio Tinto has been successfully trialling automated drill rigs, trucks and trains at West Angelas, following a failed effort at its Tarong coalmine in Queensland during the 1990s. "We didn't feel the technology was there to safely put automated equipment in the same space as humans, so we wound back our program," Mr Albanese said of the earlier Tarong tests.

Again, I'll believe it when we see entire sites running fulltime with driverless trucks. As opposed to trials.