Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
https://www.dhakatribune.com/bangladesh/2023/02/06/pm-hasina-no-development-project-on-arable-land
We've got no luck with her in charge
The planned formal proposal was only a few months after they signed the agreement with Powerchina. The signing agreement was made very public and published in quite a few newspapers. This was done to get the attention of the Bangladesh government.
I think that Tang and the other directors thought getting a huge company like Powerchina on board would be enough to convince hasina and ultimately get approval.
Some insiders within the government have most likely said she's still not interested and don't bother putting in the proposal.
They must know there's no point submitting the proposal while Hasina is at the throne.
She has no interest in our project, she's made that quite obvious.
https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/spm-play-effective-role-sustainable-fuel-management-nasrul-571302%3famp
"According to the project details, Matarbari power plant constructed a jetty for unloading coal and silos to store coal for 60 days. The plant will need 13,104 tonnes of coal a day for generating electricity.
Mother vessel with 80,000 tonnes of coal will be able to anchor at the jetty, while only 1-2 days will be needed for unloading the coal from the vessel.
A 14.3km long, 300m wide channel was prepared to ease movement of mother vessels at the power jetty, while measures were taken to ensure navigability of the channel through sedimentation mitigation dyke."
All this work for expensive poor quality coal
So if hasina stands for re election and wins the next election this is more or less game over?
Proposed Solar Project - Joint Development Agreement
GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, is pleased to advise that it has agreed a Joint Development Agreement ("JDA") with PowerChina International Group Limited ("POWERCHINA"), and Dyani Corporation Ltd ("DYANI") in relation to a proposed new greenfield solar project called the Dinajpur Solar Power Project ("SOLAR PROJECT") which would be an adjunct project in conjunction with the Phulbari Coal and Power Project ("the Project").
The Parties intend to participate in the Solar Project by equity investment and form exclusive cooperation to develop the Solar Project on the terms and conditions of the JDA. The development activities include all tasks required including development, financing, construction and operation of the Solar Project, and all activities incidental thereto, and entering into related arrangements, documentation and agreements with relevant authorities in Bangladesh. The Parties intend to appoint PowerChina as EPC Contractor for the Solar Project with the terms and conditions of the EPC Contract to be negotiated and agreed by GCM and Dyani.
Currently the proposed project is at a conceptual stage and any operational project would need, amongst other items, permits and project financing. The solar project's intention would be that should the solar project become operational that it would be capable of providing power to support the Phulbari Coal and Power Project and the National grid.
https://amp.scmp.com/week-asia/politics/article/3204267/bangladesh-protests-power-cuts-and-price-hikes-challenging-rule-pm-sheikh-hasina
Saturday’s march will be the latest anti-government demonstrations that have erupted across the country since September amid rising costs of living, power cuts, fuel price hikes.
I totally agree with your comments regarding Micheal tang.
However I would think twice about trying to vote against Tangs re-election.
We all remember what happened with polo resources, he might just do the same with GCM if you attempt to vote against him.
https://thefinancialexpress.com.bd/trade/adanis-power-to-be-very-expensive-1670986927
The Adani Godda coal-fired power plant, which is scheduled to start generation on Friday, will supply 'very expensive' electricity to Bangladesh, according to a new report.
"It (Bangladesh) simply can't afford," said the report, released by the US-based Institute of Energy and Economic Financial Analysis (IEEFA) on Tuesday.
London South East
Atlantic Lithium Chair Neil Herbert joined London South East for Ghana project update. Watch the full video here.
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MOU Extension – Phulbari Coal Mine Development
Mon, 12th Dec 2022 07:00
RNS Number : 2978J
GCM Resources PLC
12 December 2022
12 December 2022
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
MOU Extension - Phulbari Coal Mine Development
The Company advises that, further to its announcements of 23 November 2021, and 2 June 2021, Power Construction Corporation of China, Ltd. ("PowerChina") has agreed to an extension for a period of a further 12 months from 6 December 2022 to 6 December 2023 on the same terms as the previous memorandum of understanding ("MoU") which is primarily focused on the Phulbari coal mine development. This will allow PowerChina and GCM to determine the modality for PowerChina to become a Mine Development Partner, subject to the approval of PowerChina internal compliance and all other relevant regulatory agencies.
Under the MoU, PowerChina and GCM will discuss and negotiate a mutually agreed business relationship to partner each other in developing the proposed coal mine based on the world-class high quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project in North-West Bangladesh (the "Project"). These discussions will cover key areas of finance, project development and mining operations.
Michael Tang, Executive Chairman of GCM, commented: "GCM continues to enhance our relationship and work closely with PowerChina on the Phulbari Coal and Power Project. PowerChina brings an incredible amount experience and credibility to the Project. We are very pleased to report the extension of the MOU with PowerChina and continuing the ongoing discussions leading up to a partnership in developing the proposed coal mine, which is the pivotal aspect of the Project.
https://www.cnn.com/2022/12/11/asia/bangladesh-protests-prime-minister-sheikh-hasina-intl-hnk/index.html
Tens of thousands protest in Bangladesh to demand resignation of Prime Minister Sheikh Hasina
PowerChina
GCM Resources plc (LON:GCM), an AIM quoted mining and energy company, is pleased to announce that further to the announcement of 19 January 2021, it has completed the extension of the joint venture agreements announced on 17 January 2019 and 13 January 2020 ("First JV Agreement") and 15 March 2019 ("Second JV Agreement") with Power Construction Corporation of China ("PowerChina"). The joint venture agreements which were both due to expire on 15 March 2021 have both been extend for a further two years to 15 March 2024.
https://www.tbsnews.net/bangladesh/politics/next-general-election-first-week-2024-pm-hasina-announces-547146
Next Bangladesh general election first week of 2024
We will opt for underground mining,’ he said, adding that coal lifting from the mine might take six years to start.?
Our project is for the open pit mining method!
I think once hasina is gone things will start looking alot more promising here.
Let's hope she steps down before the next election
Next update will be annual results next month, I'm not expecting any surprises in that report.
https://www.tbsnews.net/analysis/lng-getting-it-costly-leaving-it-costlier-522910
"For this reason, the proposal made by Asia Energy (new name GCM) should be verified by an independent institution. If the damage to the environment is small, coal mining should be allowed.
Extensive exploration may now yield 6-8 trillion cubic feet of gas. If our annual demand is 1.5 trillion cubic feet, this reserve will be enough to meet the demand for five years at most.
For this reason, coal extraction should be ensured to reduce dependence on imports. Besides, arrangements should be made to import coal through long-term contracts."
This share is so predictable
Any idea what on earth his saying?
Can't seem to keep up with boohoo, currently up 16%