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Hawkspear, its about 11am mate, and Bangla are about 5 hours in front of us, BUT, as i said last week, I honestly don't believe that we will hear anything until either later in the week, OR if it is a positive decision, when either Hasina or Nasrul Hamid are ready to make it public.....

This has Phulbari written all over it imo!!!!!

Here are just some of the points from the article...

“It is now expected that the government will make a decision to mine and set up at least 5,000MW mine-mouth coal power plants soon, yielding fruits by the end of the present term of the government”

“Technical experts, economists, and analysts have long been suggesting the exploration and exploitation of superior-quality coal resources lying at mineable depths. Various studies have been conducted by local and international experts, justifying the proposals for mining coal and using it as the cheapest alternative to depleting natural gas. Even the present government in its past three terms pledged for mining coal. However, the required political decision in this regard has not been made.”

“The technological and economic aspects heavily favor mining domestic coal.”

“The need now is for the government to take the decision of mining or not mining coal. Nothing but domestic coal can ensure sustainable energy security for Bangladesh in the prevailing and emerging global geopolitical situation. Despite global movement for energy transition from fossil fuel to renewable energy coal is going to remain one of the major fuels over the next 30-40 years. Moreover, Bangladesh has no obligation to limit emissions as it has only a negligible carbon footprint of its own.”

“The government paying through its nose realized that the increasing dependence on imported fuel through ignoring exploration and development was a major political mistake.”

“Exploration of coal and gas should be a top priority national agenda. The government should not only make an immediate political decision to mine coal it must also reorganize the mining directorate of Petrobangla to champion coal mining.”

“It is now expected that the government will make a decision to mine and set up at least 5,000MW mine-mouth coal power plants soon, yielding fruits by the end of the present term of the government”

“A positive signal of the government will encourage investment. In the meantime, the government engaging competent mining experts can review all study reports for implementing mining strategy.”

“However, the election agenda of the ruling party before the general election of 2024 included a government pledge to mine coal. Hope policymakers will produce convincing and authentic documents to the Prime Minister for her courageous decision. Local coal will delay the requirement for importing fuel from abroad. The government will have breathing space for exploring and developing offshore petroleum resources and logically expanding solar and wind power resources.”

https://ep-bd.com/view/details/article/MTAxMDQ%3D/title?q=ruling+party+and+its+pre-election+pledge+for+minin

Factors pushing up coal imports

Increased demand from power sector: The increase in coal imports can be attributed to several factors. Notably, a key reason lies in the heightened requirement of imported coal for power generation. Inflation-related issues and coal supply shortages have been leading to electricity disruptions. With the addition of the Matarbari power plant in the current fiscal year, demand for coal has experienced a remarkable upsurge. In fact, six power plants across the country are now operational, utilising imported coal as a primary fuel source.

Insufficient domestic coal supplies: In response to the surging energy demands, Bangladesh has witnessed a remarkable increase in domestic coal production, notably facilitated by the Barapukuria Coal Mining Company Limited (BCMCL). Several factors have contributed to this surge, including successful agreements with the Chinese contractor XMC-CMC Consortium, aimed at roadway development and maintenance, alongside continued coal extraction activities from underground mines. To meet the growing demand, BCMCL increased coal production by 57% y-o-y to 767,307 tonnes in FY23.

However, despite the substantial increase in production, the country’s domestic coal supply still falls short of demand. This demand surge is evident in the country’s Annual Performance Agreement (APA) for the financial year 2022-2023, which aimed to sell 500,000 t of coal to the Bangladesh Power Development Board (BPDB). Due to BPDB’s high demand and BCMCL’s increased production, 0.76 mnt of coal were sold to BPDB in 2022-2023, surpassing the initial target. Notably, BCMCL ceased coal sales to local buyers from 19 March 2018, further accentuating the reliance on imported coal.

Outlook

It is anticipated that Bangladesh’s coal imports will likely increase in the near future due to escalating energy demands amidst inadequate domestic supply. Despite challenges like currency devaluation and supply disruptions, coal capacity expansion projects are underway to meet future energy needs. Projected coal consumption is expected to reach 19 mnt by 2026 from the present 13-14 mnt, driven by capacity additions and economic growth. Coal consumption is set to increase with plants like Matarbari and Banshkhali that are nearing commercial operation.

https://www.steelmintevents.com/bridging-the-energy-gap-bangladeshs-strategic-pivot-to-imported-coal/

The power sector is beset with problems due to the crisis of both cash and foreign currency i.e. dollar. Because of this, public life and production systems, including electricity-dependent small industries and trade, are being subjected to frequent and increasing load shedding this year as well.

The power generation capacity in the country last year was 22,566 MW. Currently, the generation capacity has increased to 25,481 MW. This time too, a large part of the production capacity has to be kept idle due to the dollar crisis and lack of fuel imports.

According to PDB data, the supply of coal, liquefied natural gas (LNG), and fuel oil (diesel, furnace oil) for power generation remains uncertain. Due to the non-availability of the required fuel, the country was hit by severe load shedding during summer for the last two years. The main reason for this is the dollar crisis. This time, it is more obvious.

Besides, power generation may also be halted due to the arrears of private power plants. Almost all coal power plants have outstanding bills.

The Payra power plant in Patuakhali has outstanding bills of around Tk 9,000 crore. The 1,600 MW Adani power plant in the Indian state of Jharkhand has an average monthly bill of $8-9 crore. Among them, due to the irregular payment of bills, their outstanding bills are more than $50 crore dollars.

https://www.dailymessenger.net/bangladesh/news/17537

I’m guessing she’ll be flying to Bangladesh soon 🙄

https://lufkindailynews.com/ap_video/greta-thunberg-joins-hundreds-in-sweden-demanding-action-on-climate-crisis/video_205dc827-7e53-5be5-b650-66dacc75aba7.html

Https://today.thefinancialexpress.com.bd/trade-market/matarbari-power-plant-not-getting-payment-against-power-supply-to-natl-grid-1713543977?amp=true

“Why it continues to dilly-dally on the exploration of proven coal reserves?”

https://today.thefinancialexpress.com.bd/editorial/reviving-the-prospect-of-energy-sources-1713540998?amp=true

Pleased for you that someone took your order :)

And a little bit more of the placing stock taken imo. ... at this rate, we won't be sitting at this price for much longer :)

M22C, I was watching the auction at the time and it was a buy order.

I believe that it will be someone taking more of the placing stock that is being forward sold imo ...

Mankiniparty, hahahaha, and because they add no value, useful info or knowledge is why they are on filter ;)))

19-Apr-24 16:35:25 7.20 358,920 Buy* 7.00 7.25 25.84k UT

Well it looks like 7p won't be giving way anytime soon....

We have just been in auction, when all the background orders show up, and it looks like there is a 100k and a 226k order sat there waiting to be filled ;)

Nice to see ;)

Mankiniparty, you took the words out of my mouth lol....

YouKnowItsRight, hahaha, have you not been watching the volume recently or since the FR was announced was made, imvho they have already been forward selling these shares, and as Pappi said earlier this morning, they are probably not selling them all, so I think we are well on our way to them already being in the market, so come Monday with or without news, there will be no change in the SP because of the dilution, the SP will be news led .. imo ...

Interesting recent statement from State Minister for Power, Energy & Mineral Resources Nasrul Hamid ....

From 11 Mar 2024

"State Minister for Power, Energy & Mineral Resources Nasrul Hamid has recently said that it is not possible to leave so much coal underground and import it. “Sooner or later, we will have to extract coal locally. For this, local people will be paid adequate compensation.”

https://businesspostbd.com/power-energy/govt-reviving-plans-despite-strong-opposition

On a positive for the share price move north, at least there is one less MM on the sell side in this price range for the moment -:)

Bythesea1973, I am guessing that when we get to 8.25 and he realises that he is not doing any trading he will probably change the price :)

I am going out shortly for a while mate, but it is still there at the moment lol

Mrcalm, as this is the first energy meeting of the new formed government you would like to think that using their own coal would be high on agenda, especially as the energy minister has made many references in the press recently that now is the time to use their own coal, and has specifically mentioned open pit mining at Phulbari .....