Lepista Posted February 8, 2011 Share Posted February 8, 2011 A very interesting company probably in a very good space with respect to their product range and reserves. I did some work for them at their largest mine Grasberg in n Jaya. Quite a memorable company they have their own aircraft fleet and the internal walls are clad in carpet with their logo. The airport terminal main clock is set at Louisiana time, no joke. The mine itself is a big one, we were constructing a new ore crusher to service a new and rich seam one of many that they had recently opened up the altitude of the crusher was 4500m above sea level. There is a glacier below you called Grasberg which is weird given that your are near the equator. You also get to and from work on a chairlift and equipment is either cut down to get through the tunnel of it is mounted on a skid and pushed up a steep track called the heat road. One week acclimatisation is required for all new staff and any pressurised oxygen or gas bottles have to be half fill when you go up to allow for expansion due to pressure drop at altitude. Interesting,, but the pedant in me has to point out that there is no expansion of the gas in the bottles. It is the pressure difference between the inside and the outside. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted February 8, 2011 Share Posted February 8, 2011 I like this stock. But I don't like that it's on th NYSE. Movements in £/$ could wipe out your gains or multiply your losses (of course it could also work in your favour) and im not prepared to speculate on currencies. Also it seems to be a bit of a bet on the Chinese economy too and I'm not sure if that can keep up the way its going. I'm out Quote Link to comment Share on other sites More sharing options...
MongerOfDoom Posted February 8, 2011 Share Posted February 8, 2011 Friend of mine works in railway security. They have cases where a JCB is used to rip the signalling cables out of a working line, the cable is then laid across the line (whilst live) for the train to cut as it runs across. The thieves pick remote spots where they can be away with the cable before the police can get there. ???? Copper is £10 a kilo, and that's when it no longer needs melting down. You would need kilometres of signalling cables to make this sort of theft preferable to most other kinds of crime, or indeed a minimum wage job? Maybe I have confused the orders of magnitude somewhere? I don't doubt that theft of copper is an increasing problem, but I just don't see it's yet worth stealing signalling cable on an industrial scale? Quote Link to comment Share on other sites More sharing options...
Number79 Posted February 8, 2011 Share Posted February 8, 2011 ???? Copper is £10 a kilo, and that's when it no longer needs melting down. You would need kilometres of signalling cables to make this sort of theft preferable to most other kinds of crime, or indeed a minimum wage job? Maybe I have confused the orders of magnitude somewhere? I don't doubt that theft of copper is an increasing problem, but I just don't see it's yet worth stealing signalling cable on an industrial scale? more like £4 a kilo I think but that sort of cable is very, very heavy. Pikies steal it, they have nothing else to do for cash apart from tarmacing drives so it is all not just free money but one of few sources of it. They turn up with a van, a chop saw, a sledge hammer and a 6in nail. Bang the nail into the cable to make the breakers trip and kill the supply, then chop the cable into pieces that they can lift and load it into their van. The van is gone before anyone can reset the breakers let alone get the police moving. Quote Link to comment Share on other sites More sharing options...
Lepista Posted February 8, 2011 Share Posted February 8, 2011 So that's where they've got to - no wonder they don't like entering gypsey camps... http://www.housepricecrash.co.uk/forum/index.php?showtopic=159016 Quote Link to comment Share on other sites More sharing options...
homeless Posted February 8, 2011 Share Posted February 8, 2011 more like £4 a kilo I think but that sort of cable is very, very heavy. Pikies steal it, they have nothing else to do for cash apart from tarmacing drives so it is all not just free money but one of few sources of it. They turn up with a van, a chop saw, a sledge hammer and a 6in nail. Bang the nail into the cable to make the breakers trip and kill the supply, then chop the cable into pieces that they can lift and load it into their van. The van is gone before anyone can reset the breakers let alone get the police moving. yup about £4 kilo, overhead electricity cable has cadium in it, this is to strengthen and prevent the cable just sagging to the ground under its own weight. its known as grade 2, the $10 kilo price is for grade a ie mulberry as its known in the trade, this is 100% pure, free from any grease or paint ect, dry bright wire as its mainly known as. The reason its the best price is it requires no refining to be carried out to make it pure for the end user once again. Anything else old tanks/piping ect all have a % of impurities as well as requiring refining to bring back to 100% pure so are priced accordingly. And yeah it is travellers that steal the cable, it is however a lot rarer than people tend to say, basically every example of it is reported in the press, its much easier for them to just rob a legitimate scrap yard at night or an empty factory ect. They are just your average burglars that have found no-one wants to buy dvd players and video recorders anymore. Quote Link to comment Share on other sites More sharing options...
Number79 Posted February 8, 2011 Share Posted February 8, 2011 yup about £4 kilo, overhead electricity cable has cadium in it, this is to strengthen and prevent the cable just sagging to the ground under its own weight. its known as grade 2, the $10 kilo price is for grade a ie mulberry as its known in the trade, this is 100% pure, free from any grease or paint ect, dry bright wire as its mainly known as. The reason its the best price is it requires no refining to be carried out to make it pure for the end user once again. Anything else old tanks/piping ect all have a % of impurities as well as requiring refining to bring back to 100% pure so are priced accordingly. And yeah it is travellers that steal the cable, it is however a lot rarer than people tend to say, basically every example of it is reported in the press, its much easier for them to just rob a legitimate scrap yard at night or an empty factory ect. They are just your average burglars that have found no-one wants to buy dvd players and video recorders anymore. No money in general scrap, shiny/bright copper from HV cables is worth the effort to them though. There is much of it that doesnt hit the press, mostly from big projects and places that dont want the publicity. I dont think that they rob scrap yards, most scrappy's are in bed with them anyway, it would be like stealing from their mother. Quote Link to comment Share on other sites More sharing options...
Number79 Posted February 8, 2011 Share Posted February 8, 2011 They would still have to be desperate to rob HV cable for the copper content. I am working on a project now that has an 86km long buried 220 kV HVAC power cable. 500mm2 3 phase conductor. Each drum that it comes in weighs about 27T and the cable itself is about 16kgm. If you managed to get at the cable then you would have to cut through the armour shielding and extra strong polyethylene to get at the pure copper. We deliver it just in time and had to leave one out overnight and it looked like someone had a look at it as we seen a nick on the outer sheath, probably went back to sharpen their knives and come back again. They arent desperate, they know exactly what they are doing. These blokes dont just turn up with a wheelbarrow and a couple of hacksaws. Although I would imagine that 500mill would present problems to most of them. Wouldnt stop them having a go if it was left accessible though. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted February 9, 2011 Share Posted February 9, 2011 They arent desperate, they know exactly what they are doing. These blokes dont just turn up with a wheelbarrow and a couple of hacksaws. Although I would imagine that 500mill would present problems to most of them. Wouldnt stop them having a go if it was left accessible though. They don't all know what they are doing. My dad works for EDF, he inspects damaged substations and attempted thefts are very common. He told about one not so long ago where they found a half melted hacksaw embeded in one of the cables. He said it's miracle that the thief was alive and he would a best have severe burns to his hands. He said he wouldn't be surprised if it was pikes and they just dragged the dead body away! Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted February 10, 2011 Share Posted February 10, 2011 It shouldn’t go unmentioned that yesterday a day when the Chinese raised interest rates big resource companies also increased share value. A very good sign. A very good sign of what? that the Chinese will continue to grow becuasse they are tethering their inflation to maintain their inherent price (and increasingly investment and technological advantages) whilst the west keep printing like lunatics? Quote Link to comment Share on other sites More sharing options...
MrPin Posted February 10, 2011 Share Posted February 10, 2011 I left some copper cables in my recycling box in with all the bottles and cans! The cable was left behind! Quote Link to comment Share on other sites More sharing options...
Lepista Posted February 11, 2011 Share Posted February 11, 2011 Was this the reason for the closure of the east coast main line last night - "signalling problems"...? Quote Link to comment Share on other sites More sharing options...
The Golden Child Posted February 17, 2011 Share Posted February 17, 2011 There was an article on it last year.. will try to find it. 5p,10p,20p,50p and pounds to be magnetic in 2011/12 ? http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=17800 British Treasury Delays Coin Changes The next generation of British coins initially scheduled to appear in circulation during early 2011 has been postponed, primarily due to the influence of the parking meter and vending machine industries. The high price of the metals from which Great Britain’s circulating coinage are struck is the problem. Coins currently issued in copper-nickel composition are planned to be replaced beginning April 1 with coins of nickel-plated steel. The new 5- and 10-pence coins presumably dated 2011 are not only composed of a different metal mix, but are 0.2 millimeters in diameter thicker than are the existing 1.7mm thick coins they will replace. The British government has emphasized that the new coins will save £10 million annually. A spokesman for the Treasury was quoted in the Dec. 28, 2010, The Telegraph newspaper as saying, “It is intended that the new 5-pence and 10-pence coins will be issued with natural demand from 1 April 2011, saving £10 million a year in reduced metal costs.” A British Royal Mint spokesman added, “There are many benefits of introducing nickel-plated coins. Nickel-plated coins last longer, with a typical lifetimes of 25 to 30 years and are cheaper to manufacture.” On the other side of the coin, a spokesperson for the British Retail Consortium said, “Low-cost and convenient parking is an essential part of having a successful high street,” adding, “If changes have to be made to vending or parking machines it is very important enough time is allowed so that everything will be working effectively. Retailers don’t want customers to face any inconvenience that could have been avoided.” Upon hearing the new coin release has been postponed Automatic Vending Association Chief Executive Jonathan Hilder said, “We’re relieved the coins have been put back to April and we are hopeful there could be a further delay until next January [2012].This has already saved the industry £16.3 million in costs and will prevent millions of machine users having coins rejected.” Hilder was careful to add, “The Treasury has been much more responsive to the needs of the [coin vending machine] industry than under the previous government.” While Hilder was being diplomatic The Telegraph newspaper article was not. The article began, “New thicker 5-pence and 10-pence coins, due to be introduced from next week, have been delayed to avoid chaos at parking meters and vending machines.” Further in the article it states, “Industry bodies warned of a disaster, saying it was impossible to alter millions of vending machines and 400,000 parking meters to accept the new coins in time for their slated introduction from 1 January.” According to the website www.which.co.uk, there are 3.774 million 5-pence and 165 million 10-pence coins currently in circulation. The website quoted an unnamed British Parking Association representative as saying, “We do not want to see parking tariffs increase simply to pay for the cost of the introduction of these new coins. We are also concerned that motorists are not confused by having coins which look identical but do not always work in parking meters.” According to The Payments Council, more than half of all financial transactions in Great Britain involve the use of cash, however about 80 percent of these same transactions are for less than £10 in value. The council suggested what it calls “wave and pay” or “contactless payment” technology involving alternatives to cash for such transactions gaining in popularity, while debit cards have already gained in popularity for larger transactions. Quote Link to comment Share on other sites More sharing options...
Guest spp Posted February 17, 2011 Share Posted February 17, 2011 http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=17800 British Treasury Delays Coin Changes The high price of the metals from which Great Britain’s circulating coinage are struck is the problem. Coins currently issued in copper-nickel composition are planned to be replaced beginning April 1 with coins of nickel-plated steel. The new 5- and 10-pence coins presumably dated 2011 are not only composed of a different metal mix, but are 0.2 millimeters in diameter thicker than are the existing 1.7mm thick coins they will replace. People just don't get it!!! From wikipedia - Reasons for debasement The primary reason a government will debase its currency is financial gain for the sovereign at the expense of citizens. By reducing the silver or gold content of a coin, a government can make more coins out of a given amount of specie. Inflation follows, allowing the sovereign to pay off or repudiate government bonds.[1] However, the purchasing power of the citizens’ currency and standard of living[citation needed] has been reduced. :angry: Quote Link to comment Share on other sites More sharing options...
pandabear Posted February 17, 2011 Share Posted February 17, 2011 Copper reached over £6000 a ton back in 2006-7. Given the devalueing of the pound its nothing to be shocked about. Then again, didnt the FTSE bottom at under 4000 shortly afterwards. Nothing new here. Quote Link to comment Share on other sites More sharing options...
Kilham Posted February 18, 2011 Share Posted February 18, 2011 People just don't get it!!! :angry: First Gold is too 'expensive' for our pound coins. Then Silver is too 'expensive' for our silver coins. Then Copper is too 'expensive' for our pennies. Now even fake silver is too 'expensive'. Wonder how long before brass is too expensive to make a pound coin?. Shall we use plastic next?. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.