RE: Open Pit at Bara & Phulbari Part 18 Mar 2024 10:49
BOOOOOM - Excellent find Mr Pappiklon!!
"Power generation will require a total of 33.6 M tonnes of coal annually. Only 1 M tonnes of coal is mined annually. Unless NEW MINES ARE OPENED, almost the entire coal requirement will have to be imported" - (which it can't because of critucal Fx shortage).
"Among the country's five coal mines, there are Plans to extract coal by Open Pit method at Barapukuria and PHULBARI" - (the GCM licences asset).
Locals at Phulbari are now fully behind the mining initiative (ref the AGM feedback / RNS 29th Jan).
We also know this has now been presented in discussions with Hasina herself present & GCM rep/Govt discussion indicate this will be moving ahead as part of Govt New Energy Plan.
This is not my biggest holding but certainly the biggest potential upside anywhere & the investment case has just been reinforced further!
EXCELLENT & thank you for great research!. 🦉