BHP - Price Chart, page-38

I ask management from time to time, I guess I talk to some segments of upper management once every 3 months, but I also have mates that are sups and middle management and they are always telling me that automation is always being ramped up everywhere.
In the last 3 years BHP has become extremely frugal.
In 2007 through to about 2015 they spent like drunken sailors. It was ridiculous. Truckies were on $279,000 a year plus $40,000 a year in bonuses....JUST FOR DRIVING A TRUCK AROUND IN CIRCLES.
Those days are long gone.
Looking back at that spending regime, they achieved I would at a guess say 50 + years of infrastructure spend that ordinarily would have happened anyway.
The last mining boom we had was not about mining as such, it was more of an INFRASTRUCTURE boom.
Every day I read at least 1 hour about Chinese finances, not so much politics, and they are doing well, not fantastic but they seem to be gearing up for stimulus. I would say and I have placed my money as such on a future stimulus and they are just being cautious & careful where they administer that cash & investment.
China is a giant and its true we need to diversify from China but always have them in our pocket.
we are going through nothing more than a cycle and we have gone through this over the years countless times and will do into the future. Im more interested in BHP bolt ons. The right ones....copper especially.