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----Massive turnover since the start of Feb-----around 100 mill shares have been traded, and shuffled into new hands----maybe at least 40- 60 mill have been bought, --- this is not PI money, this is serious investment decisions.
-The whole proposal now looks like it has been put before the GOB, and the fact that it is being openly talked about in the Bangla press, can only mean one thing--- with no other options--The Gob are looking to OP Phulbari.
-With all the buying that has taken place over the last 6 weeks, the pool of free shares has shrunk significantly, and a scramble for stock is going to create one hell of a run in the SP.
-
---Next stop the GL ??
-
-follow the money.
It begs the question, what are we waiting for , come on GCM strike while the iron is hot and make a massive spectacle of putting in the proposal shouting from the rooftops about all the benefits to the long suffering Bangladesh people . There has never been a better time than now
This news article is massive imho ….. I don’t believe that there is any way that this article would have been printed in Bangla press if the powers that be had not sanctioned it……..
Hopefully we will now start to see a lot more articles openly mentioning open pit mining!!
.......the mine will fire up business as no outage, $4 bn is not the total benefit financially to the people of Bangla, I would guestimate a minimum $20bn
"Mining financial resources
Phulbari will yield 470 million tons of coal worth USD $83 billion along with other resources worth $17 billion. Barapukuria South and Phulbari open pit mining together can produce 62 crore tonnes of coal. 70-80 percent of the country's coal demand will be available. This will save $4 billion dollar annually."
The feasibility studies were submitted years ago Searcher.
We are waiting on the new SoD proposal to be submitted.
According to the Hydrocarbons Unit of the Energy Department, mine development takes 4-5 years for underground method and 2-3 years for open pit method. Therefore, if the government wants to get the benefits of domestic coal in this period, it should take a quick decision. In this case open pit mining at Barapukuria and Phulbari will be most profitable.
"GCM has submitted a full feasibility study on the mine development to the government."
Is this why we have had such MASSIVE turnover recently!!
Australian company BHP Minerals discovered a coal mine at Phulbari in Dinajpur. UK-based company Asia Energy wanted to mine coal in an open-pit method here. In 2006, the government
withdrew from that plan in the face of the movement. The reserve of the field is 57 million tons. Extractable reserves are 47 million tons. It is possible to extract coal from this mine by the open pit method. This mining license is now in the hands of the multinational company GCM. A majority stake in GCM is said to be owned by a Chinese company. GCM has submitted a full feasibility study on the mine development to the government.
I don’t think that the feasibility study mentioned is the same as the SoD proposal that is due to be submitted in Q1.
I know they have submitted the original feasibility study & then a revised one after they redid the water table stuff again.
The article also mentions the Bara open pit study as ongoing that i brought up the other day. That was over a decade ago.
Great read - thanks papi
I get the challenges of funding, political, environmental issues etc but this is a clear message from the top. We are named. Can’t believe we are 4p…. Can’t wait wait for the market to wake up to this.
-----"GCM has submitted a full feasibility study on the
mine development to the government."
-
-This is the most positive news we have had in over 10 years.
"Among the country's five coal mines, there are plans to extract coal by open pit method at Barapukuria and Phulbari, underground method at Khalaspir and Dighipara and coal gasification method at Jamalganj."
EXACTLY!
🦉
Nice find Pappi. 👍
Wow!!!!!
Nice article Pappi
"State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by ensuring underground water management. Rehabilitation and employment of the locals will also be ensured."
That is why we are invested for a x50, x100, x 200 Bagger upside (whatever actual figure is) - Everything point toward Phulbari go ahead by Govt.
*And also our NED RNS in coming few days
GCM has submitted a full feasibility study on the
mine development to the government.
The largest coal mine in the country is at Jamalganj in Joypurhat. 545 million tons are deposited here.
105 million tons can be extracted. A study was conducted in 2016 on coal bed methane extraction.
This method is considered not to be commercially viable. However, re-survey is suggested for
underground approach in north-eastern part. According to the hydrocarbon unit, the underground
gasification method is suitable for this mine.
Open pit mining and water management
According to the Hydrocarbons Unit of the Energy Department, mine development takes 4-5 years
for underground method and 2-3 years for open pit method. Therefore, if the government wants to get
the benefits of domestic coal in this period, it should take a quick decision. In this case open pit
mining at Barapukuria and Phulbari will be most profitable. But the main problem will be the
acquisition and rehabilitation of huge agricultural land and the management of underground
reservoirs.
Agriculture and forestry
Phulbari mine area has 4162 hectares of agricultural land, 195 hectares of forest land, 81 hectares
of wetlands and 666 hectares of settlements. It produces 3-4.5 tons of rice per hectare, 20-23 tons
of potatoes, 3-3.5 tons of wheat, 10 tons of corn and 1 ton of pulses. According to the hydrocarbon
unit, 2 thousand hectares of land will be required at a time in Phulbari for mining. After the mining of
coal, within 3-5 years, the land will be reclaimed and made suitable for agriculture. The land to be
rehabilitated in the mining area after coal extraction will be agriculture 2 thousand 550 hectares,
forest land 1 thousand 946 hectares and wetland 696 hectares. According to the unit, the extracted
coal and other minerals will be 20 times more profitable than conventional agriculture in the mining
area.
Compensation for the Project
According to Hydrocarbon Unit, Phulbari mine area will be 54.8 sq km. Population 46 thousand 500.
Their rehabilitation will last for 10-12 years. A model town will be built in the western part of Phulbari.
Agriculture can be carried on till mining on the acquired land. This rehabilitation plan will cost 1
billion dollars.
Mining financial resources
Phulbari will yield 470 million tons of coal worth USD $83 billion along with other resources worth
$17 billion. Barapukuria South and Phulbari open pit mining together can produce 62 crore tonnes of
coal. 70-80 percent of the country's coal demand will be available. This will save $4 billion dollar
annually.
Country. As much as can be done in the underground system, we have to move towards that.
Energy expert Prof. M Tamim said that the government already delayed in the the decision to extract
coal. Big financial institutions are not investing in coal mine development now. But many coal
companies will invest . Good negotiation is required for this. Earlier the government was in a strong
position. Now if the government moves forward, the companies will take the opportunity. However,
initiative is needed. However, first of all, a third-party survey should be conducted regarding
groundwater management. If the result is positive then coal should be removed.
State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by
ensuring underground water management. Rehabilitation and employment of the locals will also be
ensured. He said that if there is a coal mine in that region, crop production will decrease by BDT 5
thousand crore annually. On the contrary, coal worth about BDT 70 thousand crore will have to be
imported in the future.
Five mines in the country
According to the Bureau of Mineral Resources Development, the number of coal mines discovered
in the country is five. Four discoveries were made by the Directorate of Geological Survey. Among
them, coal mining started in 2005 from Barapukuria in Dinajpur. About 39 million tons of coal are
deposited in this mine. 20 crore tonnes of recoverable reserves. The reserves in the northern and
southern parts of the mine are estimated at 17 million tonnes, which can be mined by opencast
method. At present, coal is being mined from the middle part trough underground method. Only 2
crore tons of coal can be extracted trough the same method. 8-10 lakh tonnes of coal is now being
mined annually from Barapukuria, which runs a power plant. Survey of open pit coal mining in
northern part of Barapukuria is under process.
The reserve of Dighipara coal mine in Nawabganj of Dinajpur is 70 million tons. Extractable reserves
are 9 crore tonnes. 3 million tons of coal per year can be mined here through underground method.
Barapukuria Mine Authority has submitted a full feasibility study of Dighipara to the government.
Rangpur's Khalaspir has coal reserves of 50-69 crore tonnes. Extractable reserves are 8 crore tonnes.
Up to 4 million tons of coal can be mined annually by underground methods.
Australian company BHP Minerals discovered a coal mine at Phulbari in Dinajpur. UK-based
company Asia Energy wanted to mine coal in an open-pit method here. In 2006, the government
withdrew from that plan in the face of the movement. The reserve of the field is 57 million tons.
Extractable reserves are 47 million tons. It is possible to extract coal from this mine by the open pit
method. This mining license is now in the hands of the multinational company GCM. A majority stake
in GCM is said to be owned by a Chinese company. GCM has submitted a full feasibility study on t
Recently, the Hydrocarbon Unit presented a presentation to the Energy Department on domestic
coal. It is said that the demand for energy in the country is increasing. Gas reserves are running low.
As a result, the pressure on coal-based power plants will increase. Importing coal to meet the
demand of the power plant will require 6 billion dollars a year in the future. Currently, the dollar crisis
is disrupting fuel imports. The generation of power plants was almost stopped due to coal shortage.
If domestic coal is guaranteed, the pressure on the dollar will be reduced and energy security will be
ensured. According to a presentation by JICA, Japan's international cooperation agency, which
prepares the master plan for the power and energy sector, the amount of coal reserves in Bangladesh
is 7.8 billion tons, which is equal to 200 trillion cubic feet of gas. If 10 percent is extracted 20 TCF will
be available. Domestic coal can offer many benefits. Apart from creating employment, it can play a
role in controlling fuel prices and reducing import dependency.
Chairman of Petrobangla Ganendra Nath Sarkar said that the issue of coal extraction from the new
mine has not been finalized yet. Coal gasification in Jamalganj, open pit mining in Barapukuria and
coal mining in Dighipara are being surveyed. A complete result will be presented before the Prime
Minister.
Anu Muhammad, member secretary of the National Committee for Protect Oil-Gas, Mineral
Resources said, coal-based power plant is a wrong decision. The results are now available. The
environment is being damaged, the economy is also under pressure. If coal mining is undertaken, it
will be a more disastrous decision. Locals gave their lives to protect themselves. So he hopes that
the government will not take this stubborn decision.
Geologist Badrul Imam said that it was necessary to come to a decision about coal extraction.
Because the demand for coal has increased, it will increase further. There will be no energy security
if we are totally dependent on imports. He said that coal cannot be mined in the open method in the
Original Bangla News Article and Google with translation following
https://samakal.com/bangladesh/article/226409/বড়পুকুরিয়া
Initiative for extracting coal from
Barapukuria-Phulbari through open pit mining
Daily Samakal_ 07March 2024
The number of coal based power plants in Bangladesh has increased. Coal power generation
capacity under construction and in operation stands at 11 thousand 329 MW. This power generation
will require a total of 33.6 million tonnes of coal annually. Only 1 million tons of coal is mined annually
from Barapukuria. Unless new mines are opened, almost the entire coal requirement will have to be
imported. It will cost 6 billion dollars.
The sector stakeholders say that the energy of the country is becoming dependent on imports day by
day. This is increasing the pressure on the economy. The Dollar crisis also added to the situatioin. As
a result, a big crisis has been created with energy security. Therefore, the government has
emphasized on extraction and exploration of domestic energy. In this context, the energy department
has started thinking about the country's coal mines. Among the country's five coal mines, there are
plans to extract coal by open pit method at Barapukuria and Phulbari, underground method at
Khalaspir and Dighipara and coal gasification method at Jamalganj.
There is a debate about the method of extracting coal from mines for a long . There was a big
movement against open pit coal mining from Dinajpur's Phulbari mine. Casualties also occur. After
that movement in 2006, the issue of coal extraction from domestic mines was suspended. According
to environmental movement activists opposed to coal mining, mining will destroy agricultural land in
the area, destroy groundwater management and pollute the environment. Prime Minister Sheikh
Hasina has also said several times that coal will not be mined by damaging agricultural land. For this,
the energy department is taking a detailed proposal to the Prime Minister. It will include everything
from how to manage groundwater, resettlement of locals, making the land cultivable after extraction
of coal.
Thanks for explaining the header
Again
🤦
"The Company and it's Nominated Advisor are conducting DUE DILLIGENCE CHECKS and it is hoped the Company can Announce the replacements once these checks are concluded" - RNS 28th Feb 024
Do not think for one second NOMAD is "arm twisted" (??). This is usual BB type of 'chat' so will stay with development facts.
NED candidate at AGM.
Header say all & I expect RNS in this matter immanant!
🦉
Jamesss, that was more balanced from you; PIs had almost given up hope here and most of the recent buying could be them moving back in with the new climate in Bangladesh.
what looks to be forthcoming government proposals which will have to be with GCM, I would suggest,at least initially, but your warnings are valid for setting against the current PI positivity though but one has to hope we will not be shafted and the nomad is not being arm twisted to get legalities in place for going private though nothing is impossible with our current bad governance in the market.
Now compare the scenario here to Polo:
Name me 5 downsides to taking Polo private? You’ll struggle to find one.
This is very different. I could give you 10+ reasons this wouldn’t get taken private (or hasn’t when opportunity has presented itself 10x over) not before approvals given and PC have pumped the best part of a few billion to get the mine up and running….at which point, who cares.