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You don't know Hasina so you can't speak for her. It's unlikely a massive outfit like Powerchina backed by Chinese govt officials would not be lobbying direct with Hasina govt officials.
GCM says 3 years to get at the coal. Could be faster with a fully committed govt using emergency powers.
Only the coal can end the energy crisis.
'3 years to commercial coal production'.
How much quicker could things move in a national emergency with full support from a government desperate to end the energy crisis which is causing economic turmoil and personal suffering to Bangladesh? The price of coal today, and unlikely to fall any time soon, could give an incredible project budget to speed the project development up.
'The Phulbari deposit is conducive to a long life, low cost open pit mining operation. The production costs will be in the lowest quartile of industry cost curves for both seaborne traded thermal coal and semi-soft coking coal. Substantial initial investment relating to equipment costs, site preparation, box cut development, and initial resettlement and other community programmes, will take place over a three year period leading up to the commencement of commercial coal production. The ramp up to saleable coal production of 15 million tonnes per annum will take a further five years. The coal will be used in domestic power generation and domestic industries such as clay brick and coal briquette production.'
'Just google Asia Energy's own take on it.'
Asia Energy's view from a decade ago? Technology has changed massively since then, especially in mining, and especially where the Chinese are involved. For example it only took China 9 years to build a 55km over sea bridge to HongKong. An open cast mine will be a piece of cake to them.
Also the big machines and diggers are transported in sections and assembled on site. Once up and running it won't take them long to clear the topsoil and enter the coal. Again the Chinese are the coal mining experts.
Interesting that Nasrul Hamid was also speaking at the same seminar below as Hossain. Hasina's govt will know full well the pressure is building on them to solve this crisis and the cries for them to dig their own coal are getting louder. It is the only solution for them. And GCM and Powerchina are ready to go in pole position.
It wouldn't take 4 to 5 years at all.
That time would be for a new project starting from zero.
The GCM is project is already well advanced. The plans are drawn. The know where the coal is and how to extract it. Powerchina agreements are already in place. NFC will be ready and waiting. All could be mobilised immediately. With such a dire economic and social disaster looming Bangladesh could put all its efforts into this. The coal could be there in half that time. Yes Hasina can paper over the cracks for a couple of years knowing that a legitimate long term plan is in place.
Meanwhile stocks plunge, Taka devalued. If Hasina loses the money men in Bangla she is finished.
https://www.newagebd.net/article/178342/stocks-plunge-on-fuel-oil-price-hike-taka-devaluation
Hasina govt threatened with uprising. Protests held across the country. Only a matter of time before they turn violent.
Only digging their own coal can end the energy crisis and save the Bangla economy. How desperate is Hasina to save her own neck?????
https://unb.com.bd/category/politics/corruption-plundering-suicidal-deals-behind-energy-crisis-bnp/98759
GCM and PowerChina plans are well advanced - they could start a lot quicker than 5 years.
Nasrul Hamid Bipu, the state minister to the Ministry of Power, Energy and Mineral Resources - "if we are able to explore coal from our domestic resources it will save our foreign currency. Right now we are importing coal using foreign currency and besides our domestic coal quality is better than what we are importing now.
“We have made a plan, now the government has to decide whether it is feasible or not. If we can start exploring now, it will take at least four to five years to start mining from a coal field. We are thinking about how to expand coal mining in Bangladesh. Hopefully, we will make a decision regarding this by this year.”
https://www.dhakatribune.com/bangladesh/2022/08/12/is-it-time-to-take-another-look-at-coal
Who says it hasn't already been done? A political hot potato like Phulbari has to be negotiated in secrecy until a definitive solution is found for all parties.
Diehard anti coal political activist and economist Anu Muhammed recently bemoaned in interview - 'The groups who were active about the Fulbari coal project and Asia Energy, are taking advantage of the crisis and rearing their heads again.'
Make no mistake GCM will be working around the clock to strike whilst the iron is red hot. Bangladesh needs the coal to save its economy and end the power cuts. Now is the time
Its lucky for Hasina and Bangladesh that GCM has a coal project ready and in place, feasibility studies succesfully completed and Chinese experts, and finance, onboad, available and waiting to mine the coal to save Bangladesh.
'Tawfiq-e-Elahi Chowdhury, the prime minister’s energy, fuel and mineral resources adviser, said even if exploration leads to new deposits of oil and gas, it will take a lot of time to extract and make them usable.
"So, it is best to exercise frugality. If we discover something in the depths of the sea … it will take us 10 years to use it.”
“We need resources for these 10 years. So, we’ve come to say that we’ll be able to move forward as much as we save fuel.”
https://www.google.com/amp/s/thefinancialexpress.com.bd/national/bangladesh-needs-plans-to-explore-its-own-sources-of-energy-nasrul-hamid-1660051581%3famp=true
The cheek of these clowns - only corruption and mismanagement made Hasina and her cronies think importing LNG and coal at massive expense was a better option than using their own resources. Well their chickens have well and truly come home to roost.'The prime minister's energy advisor Tawfiq-e-Elahi Chowdhury blamed the current energy crisis in the country on the "westerners.""This is not a problem we created ourselves. The westerners have put us in this danger," he said.'https://www.google.com/amp/s/www.thedailystar.net/news/bangladesh/news/were-far-behind-fulfilling-dream-bangabandhu-3090386%3famp
Polo currently own 23.8% of 183m shares - 43.5m.
Reminder - Bangladesh has no fuel, no $dollars to buy any on the global markets, power cuts are blighting the country, industry is on its knees, its currency value is dropping, and it has enough $dollars for 3 months of food. And it's coal power stations are idle because they cant afford to import coal but they still have to pay the power stations a minimum capacity payment. It stinks and its all Hasinas doing. When the food runs out blaming russia and the west won't wash and the riots will start.
No fuel, massive power cuts, running out of $dollars to import, industry crashing, exports in a mess, food supply in danger. What a mess Hasina and her cronies have made. And the solution is buried under her feet..........
'Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industry, said the fuel price hike would affect the agricultural sector.
"As a result, food inflation will rise and the food security will be a cause of concern for Bangladesh."
He suggested producing electricity from coal-based power plants and exploring gas as soon as possible to meet the energy demand.'https://www.google.com/amp/s/www.thedailystar.net/business/news/industries-fear-severe-impacts-fuel-price-hike-3089266%3famp
Not sure what condition water that passes through a massive coalfield would be in anyway.
Bangladesh is running out of dollars, running out of fuel reserves, it can't afford to buy gas or diesel even if it had the dollars, and energy power cuts are crippling industry. Soon the economy will start to crash. But at least there's no food shortages yet! Oh wait......
'On July 27, Bangladesh Prime Minister Sheikh Hasina claimed that the crisis was not imminent. The country has enough foreign exchange reserves to import food for six to nine months, she said. “We have money in our hands to import food grains and others (essential items) for at least three months during any crisis.”'
3 months woth of dollars to buy food! What disgraceful management. Once the food stops the riots will start. Only digging their own coal will keep the energy production going, end the power cuts and save the economy.
Interesting that Rishi Sunak when asked about re-opening coal mines said if hes PM he wouldn't want to be importing coal...........
https://thediplomat.com/2022/08/bangladesh-tightens-its-belt-as-forex-crisis-looms/
This is Hasina's mess. It was never about the economics of digging their own coal and what was good for Bangladesh. Corruption has blocked GCM. Now Hasina is in a death spiral - forcing power cuts on the people, she is running out of $dollars to import fuel, running out of fuel, and soon the economy will start to collapse, food shortages and riots will follow. At some point she will have to dig their own coal just to keep the lights on.
'Wrong policy decisions, inefficiency and corruption have landed the power sector in its present predicament, said power and energy experts............
No prudent manager would keep building scores of power plants over more than a decade without having a sustainable source of primary energy, said Ijaz.
‘Everybody knew this as experts warned time and again about an economy like Bangladesh never being able to keep all those power plants running by importing fossil fuel,’ he said.
https://www.newagebd.net/article/177123/power-sector-mess-threatens-economy
GP - 13 hours a day power outages. Once those lethal power outages spread across the country the riots will begin that may well change Hasina's mind.
https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/power-outages-several-sylhey-areas-last-13hrs-power-crisis-worsens-464494%3famp
You talk some rubbish Phulbari. The world has changed and Hasina will have to change.
Mohammad Tamim, a professor at the Bangladesh University of Engineering and Technology, said the country has hardly made any investment in recent years in exploring natural gas and coal.
“It [the government] relies on imports for the items to reduce the financial risks associated with exploration. This has created a risk for the supply and prices of energy products.”
https://asianews.network/economic-crisis-not-ending-soon-bangladesh-economists/
Our own sources are gas and coal. The biggest fear in coal production is purely environmental. But we are contributing to global emissions with imported coal, which we are not bothered about.
Tamim - The use of coal is definitely not the perfect solution. But what do we do? Given the crisis, we have few alternatives.
https://www.google.com/amp/s/www.tbsnews.net/interviews/import-dependent-energy-master-plans-did-not-really-work-out-464486%3famp
How can they be running out of coal when GCM has 570 million tonnes ready to solve all of Bangladesh's energy and foreign exchange problems whilst also giving them a massive financial boost?
https://asianews.network/bangladeshs-electricity-crisis-may-worsen/
Power cuts increasing, diesel stock running out and cant afford to pay for LNG.
What a mess Hasina has created.
When will the uprising start?
When will Hasina turn to their own coal to solve their mess?
https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/furnace-oil-stock-runs-low-outages-set-worsen-461342%3famp
The answer is buried under their feet.
https://www.google.com/amp/s/www.thedailystar.net/environment/natural-resources/energy/news/northern-districts-grappling-frequent-power-cuts-3063541%3famp
'and a serious impartial examination of local coal development by a third party is needed before we make a final decision.'
https://asianews.network/what-has-led-bangladesh-to-its-current-energy-crisis/