Member Info for Pappiklon

Funnily enough even if the reporting in New Age was correct the Energy Adviser commissioned a report back in 2014 from Bangladesh’s own Institute of Water Modelling into the impact of open pit mining the Barapukuria Coal Deposit (adjoining Phulbari). See the link below, they concluded open pit mining was feasible and the water issues totally manageable. The Energy Minister would appear to have his own agenda or a very selective memory

https://archive.dhakatribune.com/uncategorized/2014/10/20/survey-open-pit-mining-at-barapukuria-possible

Another take on the same conference as was referred to elsewhere. Interesting to see, as always, how reporting from differing publications can be totally different.

https://www.thedailystar.net/news/bangladesh/news/not-possible-explore-deep-sea-anymore-2971456

New Age has always had a climate change green agenda and will angle their commentary in that direction , personally take as much notice of anything they say on this topic as I would Anu's anti phulbari rhetoric....in other words none
The Daily Star mentions nothing in their report of the same conference about open pit comments.

Having lived in SE Asia I know politicians, indeed anyone in public life, will never admit to being wrong.
Chowdhury is the "champion" of import everything and is responsible for the dire predicament the country is now in. So naturally he is defending himself... Assuming there was any truth in the New Age article any waffle re open pit mining is nonsense and as a politician he would try to hit the nerve re water and soil, an old bugaboo, that has been addressed with independent studies already, Bangladesh is quite frankly running out of options on energy security, the situation in Europe with dependence on Russian gas and oil supplies is not only going to send the already high price of energy rising everywhere but also send shock waves throughout the world on the need to explore and utilise local resources.
I personally think that moves are already afoot within Bangladesh to utilise the known resources they have in the ground and I suspect that the company is already in discussions with elements of the Bangladesh government to that end and has been since late January.
Despite it being a very long wait, there has been some serious research done by the company on how to make this as green a project as can be and that could be the PR win that will be utilised for BD politicians to save face without having to admit they were previously wrong

Thanks Mr P, hope you are well, couldn't make it this year, who knows maybe it will be a more upbeat AGM next year....if so hope to see you then

An important word in there is 'finance' which as suspected shows finance is still alive and kicking. Now the COP PR show is off the political stage things may start happening.....one day my optimism might just be 100% correct!

'These discussions will cover key areas of finance, project development and mining operations.'

Another bunch of problems which could be alleviated by using Local Phulbari coal.
Time to face up to the obvious.
Now The farce of COP is over might be some news feed here
https://www.tbsnews.net/bangladesh/energy/hot-coal-dampens-businesses-328912

Funniest post I've seen here in ages, but the truth is it's all 'don't do what I do do what I tell you' with the industrialised nations
I can see the headlines now 'Bangladesh doubles its coalmines' when we get the go ahead, despite the fact there is only one currently !

Are they really going to turn to the countries where they want to exert influence and who are of strategic importance to them and say 'don't do what I do, do what I tell you' somehow doubt it.
Chinese premier, Li Keqiang, stressed the importance of regular energy supply, after swathes of the country were plunged into darkness
“Energy security should be the premise on which a modern energy system is built and and the capacity for energy self-supply should be enhanced,” the statement said.
“Given the predominant place of coal in the country’s energy and resource endowment, it is important to optimise the layout for the coal production capacity, build advanced coal-fired power plants as appropriate in line with development needs, and continue to phase out outdated coal plants in an orderly fashion"

Hasn't stopped at all ...and this is from JICA (Japan)...both existing and another New 1200MW Matabari plant

'The 42nd loan package agreement will have three phases. In the first phase, an agreement of $1.05 billion in the loan may be signed this month for the Matarbari Coal Fired Power Project (6th Tranche) and Dhaka Mass Rapid Transit Line 6 (5th Tranche).'

Although the project was supposed to have been completed in June 2023, the new proposal has extended the duration of the project to December 2026. Till June 2021, the physical progress of the project was 46.74%.

Meanwhile, CPGCBL is trying to finance another new project of 1200 MW coal power in Matarbari. Jica's initial consent has also been obtained in this regard.'

https://www.tbsnews.net/economy/bangladesh-set-seal-280bn-jica-loan-deal-6-projects-313282

UPDATE: From Monday (11th Oct) I’ll be cutting 47 destinations from our red list – including South Africa, with just 7 countries and territories remaining - all others will be included in the “rest of world” category. I'm also making changes so travellers visiting England have fewer entry requirements, by recognising those with fully-vax status from 37 new countries and territories including India, Turkey and Ghana, treating them the same as UK fully vax passengers. The measures announced today mark the next step as we continue to open up travel and provide stability for passengers and industry while remaining on track to keep travel open for good

Only 7 countries going to be left on the Red List that pretty much opens up the whole world to those fully vaccinated. Pretty much business as usual!
Anyone know which are the unfortunate 7 ?

Pretty sure the worlds commitment to compensation and funds to switch to so called Green projects comes nowhere near $120billion .....somehow doubt they are gonna give it all to Bangladesh, do people really think a country like Bangladesh should sacrifice that to make very little difference to overall green house gas emissions, or indeed that Bangladesh would !

Yes, but with more coal powered stations coming online in BD, there was only talk of cutting 10 of the 29 proposed, I doubt they will need to export as the BD ones will be even further down the pecking order in securing coal supplies...which was one of the reasons given when the proposal to cut the number of 'in the pipeline' power stations was announced, Nasrul said all forward contracts for coal had been bought up by China, well it won't be getting any easier, it's definitely going to be more expensive, with or without local power stations it's increasingly looking like we are sitting on a gold mine rather than a coal mine....was it coal or oil they called black gold...

That the win win for Xi Jinping on his recent statement was it looks good , but it could also ease demand for coal thus allowing more coal to be available to China that is having its EconomicGrowth targets cut because of Power Outages with Factories closing, Ports struggling...BBC Article today-----Goldman Sachs has become the latest banking giant to cut its growth forecast for China, as the country struggles with energy shortages.
It now expects the world's second largest economy to expand by 7.8% this year, down from its previous prediction of 8.2%.
The firm says major industrial output cuts caused by power outages add "significant downside pressures".
It estimates as much as 44% of China's industrial activity has been affected.
The power supply crunch, caused by environmental controls, supply constraints and soaring prices, has left some factories and homes without electricity.
The energy shortage at first affected manufacturers across the country, many of whom have had to curb or stop production in recent weeks.
A document seen by the BBC shows that the largest port in northern China at Tianjin has been affected by a shortage of electricity. Power rationing for cranes that lift cargo between ships and the shore is expected to continue until the end of the week.
https://www.bbc.co.uk/news/business-58704200

SJM, actually what you said in your post is not facts they are merely your opinions . The only fact in your post was that Xi Jinping had made a speech at the UN, the rest is your speculation/stance/spin , which of course you are entitled to.
You would appear to not be a shareholder here which makes some wonder what your agenda is, are you here to save us all from ourselves, are you on hundreds of other AIM bulletin boards saving them too.
All IMHO

Hi Redeyes
In 2020 there were 29 proposed new coal fired power plants, due to rising costs of coal and difficulties acquiring coal to run them (china had bought up most forward contracts for coal supply) earlier this year there was an announcement that 10 of those where construction had been delayed or not commenced would be cancelled. We haven't heard much more around that because there would have been issues with breach of contract and what it might cost the Government to cancel those (issues mentioned at the time) there are still coal powered plants being built, the most obvious that comes to mind of course is Rampal which I believe is due to come online soon if it hasn't already. I did have a list from a BD publication of what was still being built but I'm on a different computer tonight.
If, and I repeat if, China really was going to stop any financing of Coal Powered Plants from Commercial organisations (like the USA does on certain deals with Iran) and I don't believe they will (saying and doing are very different) it would still make mining the Phulbari project a attractive proposition for the BD government, own coal, reduced balance of payments, high calrofic content, green savings on not having to ship internationally, I'm pretty sure the company will have looked at new electric trucks for the project, could even be seen as a 'green' coal project. Some of this is IMHO some is fact according to Google and the press.

One doesn't preclude the other, you can be the Financial Director of a company and a non exec Director of another. It's not unusual and I know from personal experience, If James had stopped being an non exec director we would have had a RNS.

Hi Redeyes, good to see you here, while a valid point lets not forget that currently all proposed/being built coal fired plants in Bangladesh are dependent on imported coal, of less calorific value and quality than the coal in the ground at Phulbari. They don't need to export it they have more than enough domestic capacity coming online that would utilise it....and they would be less dependent on imports and massively fluctuating prices.
The conversation about what the Chinese Premiere has/has not said is all just a distraction. The coal is there, it's massively valuable, its strategically valuable, its even greener than importing coal nothing has changed in terms of the value of the assets.

Thing about this share is it can rocket on a few trades and sink on a few too, as of 1.30pm today there have been 2.6m shares traded, say average was at 4.5p that's £117,000, its actually nothing. The thing that always amazes me is how some folk's thinking shifts based on their current perception, every sell requires a buy and every buy requires a sell, someone selling today was me purchasing, is that a positive or negative, depends who you are. Though I am now, on paper, underwater here , until I sell I have lost nothing, and tomorrow I could be massively in profit on paper again, this is just one of those shares that goes up and down easily. My mindset is nothing has really changed just been a lot of hot air.

Well interesting morning, some have panicked and sold, some have realised people would panic and sold with the intention of buying back later, others have seen as an opportunity and bought, some have concerns and are holding, some are just holding as seen and heard it all before.
There are all sorts on this board, but one thing holds true for every poster here in that they have an agenda, with this particular type of share though we also get those who have an ideological agenda and really just want to spread fear and panic because they see anyone who invests here as selfish, evil capitalists who will go to any lengths to make money and are prepared to destroy the planet and human race to do so.
Everyone has an agenda, whilst it would be nice for people to ve upfront about it, it aint going to happen.
Politicians are particularly shifty on that front, why do we continue to believe the rhetoric that comes out of politicians mouths, when time and time again their words are diametrically opposed to what they actually do. A few years back China said it was going to end Coal industries in China....yet here we are with it having huge increases in mainland china, The Chinese and in particular President Ji Jinping are very shrewd, he is probably the most powerful leader on the planet at present, he can say whatever he wants because he knows he can also do whatever he wants and really no one is able to do anything about it. What he said last night in his pre recorded message has had a lot of 'poetic license' padding in subsequent reporting. With COP 26 coming up what else can be expected but statements to keep them in the climate change game whilst Western Leaders are constantly trying to outdo each other and score political points back home. There were absolutely no details in that statement, what we do already know is that China is extending it's influence in the Region, and beyond, and is committed tp assist Developing Countries and is big time in Bangladesh. There will be lots of 'crazy wow' statements ahead of COP26, but as Europe is finding out as we move into Winter, if the wind isn't blowing and the Sun aint shining then it's back to fossil fuels for that Electricity, bit of a wake up this week for what soaring energy prices means for the everyday Joe as well as businesses, the food chain, dependence on outside sources for your energy pretty much leaves you powerless and at the mercy of......
The Phulbari Project is fundamentally a coal mine, … and Bangladesh needs lots of coal for their existing and planned power plants! We bare ideally placed in being able to help them overall lower their greenhouse gas emissions using our higher energy coal and also not having to ship it in. The mine can itself move very close to “zero emissions” using new technology. With the price of Gas unstable and rocketing dependence of imported fuel is even less palatable than it was..no brainer. My agenda I hold shares and possibly bought some of yours today.

Nothing has changed .... just appeasment rhetoric ......from the article in NY Times .
In a move designed to bolster Beijing’s climate credentials, President Xi Jinping of China said Tuesday that his country would stop building coal-burning power plants overseas, ending its support for construction projects that rely on the world’s dirtiest fossil fuel.
“China will step up support for other developing countries in developing green and low carbon energy and will not build new coal-fired power projects abroad,” Mr. Xi said in prerecorded remarks to the United Nations General Assembly.
Within its own borders, China produces the largest share of global emissions of greenhouse gases. It is by far the biggest producer of coal domestically and the largest financier of coal-fired power plants abroad, with an enormous 40 gigawatts of coal power planned.
A hint of China’s shift came earlier this year. For the first time in several years, China did not fund new coal projects as part of its global development undertaking, known as the Belt and Road Initiative, in the first six months of 2021. Chinese coal projects have faced considerable resistance in countries like Bangladesh, Kenya and Vietnam, mainly by civil society groups.
What Mr. Xi did not say at the General Assembly was anything about China’s coal plants at home. It is building the world’s largest fleet of coal-fired power plants within its borders, and most of its electricity still comes from coal.
Last year, China built more than three times more new coal power capacity than all other countries in the world combined, equal to “more than one large coal plant per week,” according to estimates from the Centre for Research on Energy and Clean Air in Finland. China’s latest five-year development plan, approved earlier this year, allows for expanded coal-power construction at home in the coming years. But Chinese experts calling for an earlier peak in the country’s carbon emissions have called for no more domestic coal power expansion.
Nor did Mr. Xi make any new announcements about China’s plans to rein in emissions by 2030, beyond repeating his pledge to reach peak emissions before the end of this decade