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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Gcm Resources Plc | GCM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.05 | -1.16% | 4.25 | 16:21:19 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.05 | 3.85 | 4.25 | 4.25 | 4.30 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 26/7/2024 14:32 by kruegerfinger Digby is Back to the future 🤣🤣&#Well done Continue to catch a falling knife trying to average down or trade…. What is your average price?? C’mon don’t be shy let me know This is how they make money changing hands for millions of shares since months One day you will understand i am sure 🤣🤣&# OfficerDigby - 10 Jun 2023 - 15:42:32 - 58141 of 66599 GCM - Long termers, banter & research - GCM That news in 2911 would have seen this £1 shame no one believes anything any more. |
Posted at 26/7/2024 09:11 by apfindley Exactly.He will take it private, like with Polo, the largest shareholder, who are still owed 3.5mill plus interest in new shares in gcm.The longer game here ever since the arrival of the newly formed Dyani corp, was to use that as a vehicle to issue shares in gcm for services which the directors were already being paid for.There has never been any proof whatsoever of what Dyani have done for gcm, or officially who works for Tang's company.Why won't they talk about it? |
Posted at 25/7/2024 16:42 by kruegerfinger Still happy??cambradjones - 23 Jul 2024 - 11:40:32 - 66476 of 66550 GCM - Long termers, banter & research - GCM Bought more this morning as looks like selling dried up today and did a few dummy trades this morning and most of the sells are actually buys. Would be good if the bod could release any sort of pos news if they have any ! |
Posted at 22/7/2024 20:46 by shortjohnblobfish Ignore the silly Trolls lies. GCM fully funded till August 2025Released : 16/04/24 07:00 RNS Number : 7103K GCM Resources PLC 16 April 2024 GCM Resources plc ("GCM" or the "Company") Subscription to raise £2.0 million Appointment of Joint Broker GCM Resources plc, the AIM traded mining and energy company, has successfully raised £2.0m through a direct subscription (the "Subscription") of 30,769,230 new Ordinary Shares of 1p each (the "Subscription Shares") at a price of 6.5 pence per share (the "Subscription Price"). The Subscription Price represents a discount of 24.6 per cent to the Closing Price of 8.625 pence per Ordinary Share on 15 April 2024.The Subscription Shares will represent 11.1 per cent. of the Enlarged Issued Share Capital The net proceeds of the Subscription will provide the Company with working capital to support the strategy to progress the Phulbari Coal and Power Project through the next 16 months on the Company's current cost basis. |
Posted at 11/7/2024 11:13 by kruegerfinger Not 8£??🤣🤣&# baxtea1 - 10 Jul 2024 - 11:23:44 - 66253 of 66287 GCM - Long termers, banter & research - GCM A Takeover? Not happening in my opinion. Positive news? share price will be 50p-£1 pre green light Green light? £2-£3 Since ive been trading GCM its been over £3 without the green light. Obviously theres been dilution with the fund raises but the coal prices have also increased. Plus there is the additional power plant plants & solar farm to add into the equation |
Posted at 29/6/2024 14:35 by silvstallone 🤣🤣&#£5.50 a share 🤣🤣&# You should be locked just thinking about it and for trying to mislead people Searcher Posts: 39,199 Price: 5.675 No Opinion RE: For anyone in any doubt to value of GCM on green light!Today 14:01 ## Share Price Estimate…. Given the current market cap, let’s hypothesize: - *Current Market Cap*: Suppose the current market cap of GCM Resources is around $50 million. - *Post-Approval Market Cap*: Adding the $500 million project value, the new market cap could be approximately $550 million. ### Summary If the Phulbari project gets approved and adds substantial value to GCM Resources, the share price could potentially rise significantly. Based on the simplified hypothetical scenario above, the share price could reach around $5.50 per share. However, this estimate is highly speculative and should be validated with a detailed financial analysis and consideration of current market dynamics and investor sentiment. Investors should consider consulting with financial analysts or advisors who can provide a more accurate and detailed forecast based on comprehensive financial models and current market data. |
Posted at 23/4/2024 20:17 by shortjohnblobfish BREAKING NEWS22/4/2024 It’s happening soon Bangladesh is preparing to mine its own coal to reduce energy crisis and import dependency in the future while there is also a plan to mine coal in an open method. In the proposal that the Ministry of Energy is going to make for the high-level decision of the government, the final decision will be the matter of extracting coal from three mines of the country at the initial stage Five coal mines have been discovered in the northern part of Bangladesh so far. These mines have reserves of 7,823 million tons of coal. Twenty percent of this coal is mineable, amounting to 1,564.6 million tons, according to the presentation of the Energy Department. This amount of coal is capable of meeting the energy demand equal to 40.6 trillion cubic feet of gas. 20/4/2024 RULING PARTY AND ITS PRE-ELECTION PLEDGE FOR MINING DOMESTIC COALToday 16:37 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.” hxxps://ep-bd.com/vi 16/4/2024 Another 16 months working capital Michael Tang CEO said: " I am delighted with the support from the London Market, which comes at a time when we are increasingly more confident that the Government of Bangladesh is receptive to the advantages of domestic energy production; our focus and main effort now is to secure the consent to develop the Phulbari Coal and Power Project, which we are well placed to develop alongside our global energy infrastructure partners, Power China." 15/4/2024 1st Meeting of Standing Committee on Ministry of Power, Energy and Mineral Resources Date: 21-April-2024 Time: 11:00 AM Location: Bangladesh Parliament Venue: Cabinet Room 28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin We are more confident than we have been in recent years that we are getting closer to a political breakthrough for the Phulbari Coal and Power Project. When this happens, we are ready to deliver the benefits and investment returns that our patient shareholders deserve. 27/3/2024 Yicai) March 27 -- A unit of Power Construction Corporation of China, a state-owned infrastructure contractor also known as PowerChina, will design and strip Bangladesh's largest coal mine for about CNY7 billion (USD969.8 million). PowerChina International Group inked the deal for the Phulbari coal mine with UK GCM Resources, Beijing-based PowerChina announced yesterday. The project includes the design of the mining infrastructure and overburden removal, procuring and installing stripping equipment, dewatering and drainage, ground production system, and sewage treatment, it added. The contract has a four-year lifespan, including two years of overburden removal to expose the first coal for mining, with no warranty period, PowerChina noted. The Phulbari coal mine is located in Dinajpur district in northwest Bangladesh. 25/3/2024 Appointment of Independent Non-executive Directors GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to announce the appointments of Paul Shackleton and Charlie Green to the Board as independent Non-Executive Directors with immediate effect. Paul Shackleton will serve as acting Chairman. 17/3/2024 BBC Bangla has learned from the Ministry of Energy that a proposal based on various surveys and feasibility studies conducted in the country's coal mines will be presented to the Prime Minister by April and approval will be sought.” 12/3/2024 Plan afoot for coal extraction hxxps://businesspost 11/3/2024 Phulbari Coal Mining Infrastructure Construction and Overburden Stripping Contract The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited covering mine development works of approximately US$1 billion necessary to facilitate coal extraction at the Phulbari Coal and Power Project ("the Project"). The advancement of this Contract is subject to receiving the approval of the Scheme of Development for coal mining submitted to the Bangladesh Government under the terms and conditions of its Contract for "Exploration and Mining Coal in Northern Bangladesh". The scope of works under this Mine Construction Contract includes design, procurement, installation, construction and commissioning of mine infrastructure and overburden removal, dewatering and drainage. It also includes selective mining and stockpiling of valuable industrial mineral co-products that occur in the overburden. These co-products are expected to deliver considerable cashflow for the Project ahead of any coal extraction. The Mine Construction Contract duration is four years, with overburden removal to expose first coal taking some two years. The Company and PowerChina expect to enter additional contracts covering coal extraction and associated activities to support ongoing open pit mining operations and the Project's commitment to deliver high quality coal supporting at least 6,600MW power generation for over 30 years. A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government. The Mine Construction Contract was entered into on 9 March 2024, however, issuance of a Notice to Proceed with the works is dependent on the Company receiving the necessary approvals from the Bangladesh Government and achieving financial closure. As noted in the beforementioned RNS of 28 November 2023, our development partner, PowerChina is committed to assist with project financing. Coal Supply Expressions of Interest: The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market. Bangladesh currently has 6,035 MW of installed coal-fired power generating capacity with a demand for some 16 million tonnes of coal per annum, i.e., equivalent to the Phulbari coal mine's planned production. However, the long-term government plan shows an increase in coal-fired power to 11,830 MW which would require some 36 million tonnes of coal per annum. The current coal-fired power plants include: · Existing Barapukuria plants 525 MW · Payra 1,320 MW · Rampal 1,320 · Matarbari 1,200 MW · S ALAM Banshkhali 1,320 MW (Independent power producer SS Power) · Barisal 350 MW (Independent power producer Barisal Electric Power Company) 8/3/2024 “State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by ensuring underground water management. Rehabilitation and employment of the locals will also be ensured. He said that if there is a coal mine in that region, crop production will decrease by BDT 5 thousand crore annually. On the contrary, coal worth about BDT 70 thousand crore will have to be imported in the future.” “It is possible to extract coal from this mine by the open pit method. This mining license is now in the hands of the multinational company GCM. A majority stake in GCM is said to be owned by a Chinese company. GCM has submitted a full feasibility study on the mine development to the government.” |
Posted at 23/4/2024 20:14 by shortjohnblobfish !FOLLOWFEEDNew thread for GCM as all news & activity is pointing to the long awaited Scheme of Development being given approval BREAKING NEWS 22/4/2024 It’s happening soon Bangladesh is preparing to mine its own coal to reduce energy crisis and import dependency in the future while there is also a plan to mine coal in an open method. In the proposal that the Ministry of Energy is going to make for the high-level decision of the government, the final decision will be the matter of extracting coal from three mines of the country at the initial stage Five coal mines have been discovered in the northern part of Bangladesh so far. These mines have reserves of 7,823 million tons of coal. Twenty percent of this coal is mineable, amounting to 1,564.6 million tons, according to the presentation of the Energy Department. This amount of coal is capable of meeting the energy demand equal to 40.6 trillion cubic feet of gas. 20/4/2024 RULING PARTY AND ITS PRE-ELECTION PLEDGE FOR MINING DOMESTIC COALToday 16:37 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.” hxxps://ep-bd.com/vi 16/4/2024 Another 16 months working capital Michael Tang CEO said: " I am delighted with the support from the London Market, which comes at a time when we are increasingly more confident that the Government of Bangladesh is receptive to the advantages of domestic energy production; our focus and main effort now is to secure the consent to develop the Phulbari Coal and Power Project, which we are well placed to develop alongside our global energy infrastructure partners, Power China." 15/4/2024 1st Meeting of Standing Committee on Ministry of Power, Energy and Mineral Resources Date: 21-April-2024 Time: 11:00 AM Location: Bangladesh Parliament Venue: Cabinet Room 28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin We are more confident than we have been in recent years that we are getting closer to a political breakthrough for the Phulbari Coal and Power Project. When this happens, we are ready to deliver the benefits and investment returns that our patient shareholders deserve. 27/3/2024 Yicai) March 27 -- A unit of Power Construction Corporation of China, a state-owned infrastructure contractor also known as PowerChina, will design and strip Bangladesh's largest coal mine for about CNY7 billion (USD969.8 million). PowerChina International Group inked the deal for the Phulbari coal mine with UK GCM Resources, Beijing-based PowerChina announced yesterday. The project includes the design of the mining infrastructure and overburden removal, procuring and installing stripping equipment, dewatering and drainage, ground production system, and sewage treatment, it added. The contract has a four-year lifespan, including two years of overburden removal to expose the first coal for mining, with no warranty period, PowerChina noted. The Phulbari coal mine is located in Dinajpur district in northwest Bangladesh. 25/3/2024 Appointment of Independent Non-executive Directors GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to announce the appointments of Paul Shackleton and Charlie Green to the Board as independent Non-Executive Directors with immediate effect. Paul Shackleton will serve as acting Chairman. 17/3/2024 BBC Bangla has learned from the Ministry of Energy that a proposal based on various surveys and feasibility studies conducted in the country's coal mines will be presented to the Prime Minister by April and approval will be sought.” 12/3/2024 Plan afoot for coal extraction hxxps://businesspost 11/3/2024 Phulbari Coal Mining Infrastructure Construction and Overburden Stripping Contract The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited covering mine development works of approximately US$1 billion necessary to facilitate coal extraction at the Phulbari Coal and Power Project ("the Project"). The advancement of this Contract is subject to receiving the approval of the Scheme of Development for coal mining submitted to the Bangladesh Government under the terms and conditions of its Contract for "Exploration and Mining Coal in Northern Bangladesh". The scope of works under this Mine Construction Contract includes design, procurement, installation, construction and commissioning of mine infrastructure and overburden removal, dewatering and drainage. It also includes selective mining and stockpiling of valuable industrial mineral co-products that occur in the overburden. These co-products are expected to deliver considerable cashflow for the Project ahead of any coal extraction. The Mine Construction Contract duration is four years, with overburden removal to expose first coal taking some two years. The Company and PowerChina expect to enter additional contracts covering coal extraction and associated activities to support ongoing open pit mining operations and the Project's commitment to deliver high quality coal supporting at least 6,600MW power generation for over 30 years. A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government. The Mine Construction Contract was entered into on 9 March 2024, however, issuance of a Notice to Proceed with the works is dependent on the Company receiving the necessary approvals from the Bangladesh Government and achieving financial closure. As noted in the beforementioned RNS of 28 November 2023, our development partner, PowerChina is committed to assist with project financing. Coal Supply Expressions of Interest: The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market. Bangladesh currently has 6,035 MW of installed coal-fired power generating capacity with a demand for some 16 million tonnes of coal per annum, i.e., equivalent to the Phulbari coal mine's planned production. However, the long-term government plan shows an increase in coal-fired power to 11,830 MW which would require some 36 million tonnes of coal per annum. The current coal-fired power plants include: · Existing Barapukuria plants 525 MW · Payra 1,320 MW · Rampal 1,320 · Matarbari 1,200 MW · S ALAM Banshkhali 1,320 MW (Independent power producer SS Power) · Barisal 350 MW (Independent power producer Barisal Electric Power Company) 8/3/2024 “State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by ensuring underground water management. Rehabilitation and employment of the locals will also be ensured. He said that if there is a coal mine in that region, crop production will decrease by BDT 5 thousand crore annually. On the contrary, coal worth about BDT 70 thousand crore will have to be imported in the future.” “It is possible to extract coal from this mine by the open pit method. This mining license is now in the hands of the multinational company GCM. A majority stake in GCM is said to be owned by a Chinese company. GCM has submitted a full feasibility study on the mine development to the government.” |
Posted at 16/4/2024 12:07 by baxtea1 Reposting useful info buried under all the repetitive irrelevant drivelBREAKING NEWS 16/3/2024 Another 16 months working capital Michael Tang CEO said: " I am delighted with the support from the London Market, which comes at a time when we are increasingly more confident that the Government of Bangladesh is receptive to the advantages of domestic energy production; our focus and main effort now is to secure the consent to develop the Phulbari Coal and Power Project, which we are well placed to develop alongside our global energy infrastructure partners, Power China." 15/3/2024 1st Meeting of Standing Committee on Ministry of Power, Energy and Mineral Resources Date: 21-April-2024 Time: 11:00 AM Location: Bangladesh Parliament Venue: Cabinet Room 28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin We are more confident than we have been in recent years that we are getting closer to a political breakthrough for the Phulbari Coal and Power Project. When this happens, we are ready to deliver the benefits and investment returns that our patient shareholders deserve. 27/3/2024 Yicai) March 27 -- A unit of Power Construction Corporation of China, a state-owned infrastructure contractor also known as PowerChina, will design and strip Bangladesh's largest coal mine for about CNY7 billion (USD969.8 million). PowerChina International Group inked the deal for the Phulbari coal mine with UK GCM Resources, Beijing-based PowerChina announced yesterday. The project includes the design of the mining infrastructure and overburden removal, procuring and installing stripping equipment, dewatering and drainage, ground production system, and sewage treatment, it added. The contract has a four-year lifespan, including two years of overburden removal to expose the first coal for mining, with no warranty period, PowerChina noted. The Phulbari coal mine is located in Dinajpur district in northwest Bangladesh. 25/3/2024 Appointment of Independent Non-executive Directors GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to announce the appointments of Paul Shackleton and Charlie Green to the Board as independent Non-Executive Directors with immediate effect. Paul Shackleton will serve as acting Chairman. 17/3/2024 BBC Bangla has learned from the Ministry of Energy that a proposal based on various surveys and feasibility studies conducted in the country's coal mines will be presented to the Prime Minister by April and approval will be sought.” 12/3/2024 Plan afoot for coal extraction hxxps://businesspost 11/3/2024 Phulbari Coal Mining Infrastructure Construction and Overburden Stripping Contract The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited covering mine development works of approximately US$1 billion necessary to facilitate coal extraction at the Phulbari Coal and Power Project ("the Project"). The advancement of this Contract is subject to receiving the approval of the Scheme of Development for coal mining submitted to the Bangladesh Government under the terms and conditions of its Contract for "Exploration and Mining Coal in Northern Bangladesh". The scope of works under this Mine Construction Contract includes design, procurement, installation, construction and commissioning of mine infrastructure and overburden removal, dewatering and drainage. It also includes selective mining and stockpiling of valuable industrial mineral co-products that occur in the overburden. These co-products are expected to deliver considerable cashflow for the Project ahead of any coal extraction. The Mine Construction Contract duration is four years, with overburden removal to expose first coal taking some two years. The Company and PowerChina expect to enter additional contracts covering coal extraction and associated activities to support ongoing open pit mining operations and the Project's commitment to deliver high quality coal supporting at least 6,600MW power generation for over 30 years. A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government. The Mine Construction Contract was entered into on 9 March 2024, however, issuance of a Notice to Proceed with the works is dependent on the Company receiving the necessary approvals from the Bangladesh Government and achieving financial closure. As noted in the beforementioned RNS of 28 November 2023, our development partner, PowerChina is committed to assist with project financing. Coal Supply Expressions of Interest: The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market. Bangladesh currently has 6,035 MW of installed coal-fired power generating capacity with a demand for some 16 million tonnes of coal per annum, i.e., equivalent to the Phulbari coal mine's planned production. However, the long-term government plan shows an increase in coal-fired power to 11,830 MW which would require some 36 million tonnes of coal per annum. The current coal-fired power plants include: · Existing Barapukuria plants 525 MW · Payra 1,320 MW · Rampal 1,320 · Matarbari 1,200 MW · S ALAM Banshkhali 1,320 MW (Independent power producer SS Power) · Barisal 350 MW (Independent power producer Barisal Electric Power Company) 8/3/2024 “State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by ensuring underground water management. Rehabilitation and employment of the locals will also be ensured. He said that if there is a coal mine in that region, crop production will decrease by BDT 5 thousand crore annually. On the contrary, coal worth about BDT 70 thousand crore will have to be imported in the future.” “It is possible to extract coal from this mine by the open pit method. This mining license is now in the hands of the multinational company GCM. A majority stake in GCM is said to be owned by a Chinese company. GCM has submitted a full feasibility study on the mine development to the government.” |
Posted at 15/4/2024 21:33 by baxtea1 BREAKING NEWS15/3/2024 1st Meeting of Standing Committee on Ministry of Power, Energy and Mineral Resources Date: 21-April-2024 Time: 11:00 AM Location: Bangladesh Parliament Venue: Cabinet Room 28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin We are more confident than we have been in recent years that we are getting closer to a political breakthrough for the Phulbari Coal and Power Project. When this happens, we are ready to deliver the benefits and investment returns that our patient shareholders deserve. 27/3/2024 Yicai) March 27 -- A unit of Power Construction Corporation of China, a state-owned infrastructure contractor also known as PowerChina, will design and strip Bangladesh's largest coal mine for about CNY7 billion (USD969.8 million). PowerChina International Group inked the deal for the Phulbari coal mine with UK GCM Resources, Beijing-based PowerChina announced yesterday. The project includes the design of the mining infrastructure and overburden removal, procuring and installing stripping equipment, dewatering and drainage, ground production system, and sewage treatment, it added. The contract has a four-year lifespan, including two years of overburden removal to expose the first coal for mining, with no warranty period, PowerChina noted. The Phulbari coal mine is located in Dinajpur district in northwest Bangladesh. 25/3/2024 Appointment of Independent Non-executive Directors GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to announce the appointments of Paul Shackleton and Charlie Green to the Board as independent Non-Executive Directors with immediate effect. Paul Shackleton will serve as acting Chairman. 17/3/2024 BBC Bangla has learned from the Ministry of Energy that a proposal based on various surveys and feasibility studies conducted in the country's coal mines will be presented to the Prime Minister by April and approval will be sought.” 12/3/2024 Plan afoot for coal extraction hxxps://businesspost 11/3/2024 Phulbari Coal Mining Infrastructure Construction and Overburden Stripping Contract The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited covering mine development works of approximately US$1 billion necessary to facilitate coal extraction at the Phulbari Coal and Power Project ("the Project"). The advancement of this Contract is subject to receiving the approval of the Scheme of Development for coal mining submitted to the Bangladesh Government under the terms and conditions of its Contract for "Exploration and Mining Coal in Northern Bangladesh". The scope of works under this Mine Construction Contract includes design, procurement, installation, construction and commissioning of mine infrastructure and overburden removal, dewatering and drainage. It also includes selective mining and stockpiling of valuable industrial mineral co-products that occur in the overburden. These co-products are expected to deliver considerable cashflow for the Project ahead of any coal extraction. The Mine Construction Contract duration is four years, with overburden removal to expose first coal taking some two years. The Company and PowerChina expect to enter additional contracts covering coal extraction and associated activities to support ongoing open pit mining operations and the Project's commitment to deliver high quality coal supporting at least 6,600MW power generation for over 30 years. A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government. The Mine Construction Contract was entered into on 9 March 2024, however, issuance of a Notice to Proceed with the works is dependent on the Company receiving the necessary approvals from the Bangladesh Government and achieving financial closure. As noted in the beforementioned RNS of 28 November 2023, our development partner, PowerChina is committed to assist with project financing. Coal Supply Expressions of Interest: The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market. Bangladesh currently has 6,035 MW of installed coal-fired power generating capacity with a demand for some 16 million tonnes of coal per annum, i.e., equivalent to the Phulbari coal mine's planned production. However, the long-term government plan shows an increase in coal-fired power to 11,830 MW which would require some 36 million tonnes of coal per annum. The current coal-fired power plants include: · Existing Barapukuria plants 525 MW · Payra 1,320 MW · Rampal 1,320 · Matarbari 1,200 MW · S ALAM Banshkhali 1,320 MW (Independent power producer SS Power) · Barisal 350 MW (Independent power producer Barisal Electric Power Company) 8/3/2024 “State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by ensuring underground water management. Rehabilitation and employment of the locals will also be ensured. He said that if there is a coal mine in that region, crop production will decrease by BDT 5 thousand crore annually. On the contrary, coal worth about BDT 70 thousand crore will have to be imported in the future.” “It is possible to extract coal from this mine by the open pit method. This mining license is now in the hands of the multinational company GCM. A majority stake in GCM is said to be owned by a Chinese company. GCM has submitted a full feasibility study on the mine development to the government.” |
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