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[owenga] 01/8/2016 08:54

And GCM up again too.

[willoicc] 29/7/2016 14:20

New Age

Friday, July 29, 2016

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Proposed PSMP for open pit mining at Phulbari, part of Barapukuria

June 28, 2016 12:40 am·0 CommentsViews: 336
Manjurul Ahsan



Proposed Power System Master Plan has suggested the government to extract coal from Phulbari deposit using the controversial open pit mining method to meet a small part of the demand for coal for power generation and other industrial uses.
In a report on the proposed master plan, Japan International Cooperation Agency also recommended to extract coal from northern section of Barapukuria deposit, near Phulbari in Dinajpur.
Besides, JICA, in its report, suggested extracting coal using underground method from southern section of Barapukuria deposit and from Dighipara in Dinajpur and Khalashpir in Rangpur.
State-run Barapukuria Coal Mining Company has been extracting coal using underground method since 2005-06.
JICA on June 18 submitted the report at a meeting of a government steering committee to finalise the PSMP-2016 for the development of the country’s power sector until 2041, said officials.
The proposed PSMP is expected to be approved this year, they said.
The government would be able to supply approximately 16 per cent of the total demand for coal to generate electricity as well as to meet the demands at other industries to be built across the country in the next 25 years, according to the report on PSMP.
The major portion of the demand for coal would be met through import, the report said.
Energy expert and a professor at geology department at Dhaka University, Badrul Imam, told New Age that open pit coal mining at Phulbari was not viable considering the difficulties related to environmental and hydrological issues.
Besides, he said, it would be more difficult to manage socio-political consequences if any government wanted to extract coal from Phulbari using open pit method.
In a bid to secure the supply of affordable primary fuel for power generation for the next 25 years, JICA emphasised on coal extraction from the local deposits.
In the report, JICA mostly discussed about the scenario which suggested supplying coal from local deposits by between 13 per cent and 22 per cent of the total demand. The main supply would come from import.
At the meeting, prime minister’s energy adviser Tawfiq-e-Elahi Chowdhury, however, advised detailing the scenario considering entire demand for coal would be met through import to avoid criticism from the groups who had been opposing open pit method for coal mining.
Left democratic organisations, environmentalists and a section of experts have been opposing open pit mining at Phulbari and elsewhere in Bangladesh on the grounds that the method was not technically and environmentally feasible for Bangladesh.
They said that open pit coal mining would destroy the underground water aquifer, biodiversity, and agriculture of the region.
On August 26, 2006, the then Bangladesh Rifles killed three youths opening fire on a populist rally at Phulbari against a move for open pit mining by London-based Asia Energy company.
On that day, police, RAB and BDR indiscriminately had beaten people, injuring over 200 children, men and women who attended that peaceful rally and demanded cancellation of the project.
Until 2020, the demand for coal would hover around two million tonnes per year, mainly for Barapukuria thermal power station and other industries including brick kilns. At least 50 per cent of the demand would be met from the Barapukuria underground coal mine.
The demand for coal would shot up to 16.33 million tonnes a year in 2025 following the commissioning of large coal-fired power plants as they would require 85.5 per cent of the demand.
Of the demand, only 13 per cent would be met from the local coal deposits, according to the JICA report.
The demand for coal has been estimated at 71.26 million tonnes in 2041, of which only 16 per cent would be met from the domestic sources.
In view of shrinking reserves of natural gas in the country, coal became the main option for primary fuel.

[qackers] 29/7/2016 12:18

Strange. The links I posted earlier have changed. one is no longer available and the other point to an article about coal powered generation but earlier in the month.
I don't know whats going on. Posted links in good faith.

[spights] 29/7/2016 11:51

Article removed
They need to find out who posted it
Scam

[spights] 29/7/2016 11:30

Not my posts but Thankyou Pappiklon and manudave for them
hxxp://newagebd.net/237946/proposed-psmp-open-pit-mining-phulbari-part-barapukuria/

[spights] 29/7/2016 11:21

hxxps://asia400.wordpress.com/2016/07/28/phulbari-coal-project-government-approves-project/

Phulbari Coal Project ¡V Government Approves Development

ˆ@July 28, 2016 ˆAMining Journal


Last night government officials from Bangladesh met to discuss the controversial Phulbari Coal Project. After an 8 year standstill, early reports are that the US$2 billion project in north-west Bangladesh has been approved for the next development stage.

This is a monumental step for Asia Energy Corporation, a wholly owned subsidiary of London-headquartered GCM Resources, as the project already has environmental clearance and a mining lease.

The proposed 1,000 MW coal plant is much needed as Bangladesh aims to increase it¡¦s current 250 MW coal-fire capacity to 19,000 MW in the next 14 years.

The Phulbari project, formerly owned by BHP, has resources totalling 572mt ¡V enough to support a 30 year mine life.

Financing for the project will now be on the agenda and we will wait to see if The Asian Development Bank (ADB) once again offers the $100m loan and $200m political risk guarantee which it initially offered in 2008.

Keno Sivlogan

Mining Editor

[spights] 29/7/2016 11:15

Polo is a Timex at present
But soon to be a Rolex
Tick Tock💰㈑6;💰💰💰💰💰💰8176;💰ԁ76;💰

[888icb] 29/7/2016 10:54

I have held GCM for many years including when it was £'s. We have had many false dawns but I have held because one day it may happen. If that day is today I will be delighted!

[pembury] 29/7/2016 10:51

it is up 60% mate!

[888icb] 29/7/2016 10:49

What I mean is if GCM flies on Phulbari news that is confirmed!

[pembury] 29/7/2016 10:47

GCM is flying!

[888icb] 29/7/2016 10:43

If GCM flies then so will Polo. Lets see if we get any Phulbari news confirmed from an official source.

[pembury] 29/7/2016 10:42

GCM +50% now

[folderboy] 29/7/2016 10:17

Things certainly stirring with GCM - somewhat less of an effect on the POLO share price than one might have thought! However it would seem an odd time to be selling POL - unless you have to.

[qackers] 29/7/2016 08:59

A couple of GCM related links. Could something be stirring finally?

[spights] 29/7/2016 07:17

8881CB
Thankyou 😀

[888icb] 28/7/2016 23:14

Spights I think that being an expert on this may be overstepping the mark!
I note from the June presentation the EBITDA is stated on the basis of 100000 ozs pa as AUS 63 million pa which converts to £36 million. If which is unlikely all the income was distributed then Polo's 8.11% would be worth £2.9 million. If it was 200000 ozs then these figures would double. This is very broad brush but hope it helps.

[spights] 28/7/2016 20:45

The expert on this calculation is. 8881CB

8881CB please can you help?


On website at .91 per share
Blackham is worth 230 A$ million

[flyingbull] 28/7/2016 19:05

The monthly oil challenge is on.....deadline for entry is midnight this Sunday.

[acamas] 28/7/2016 19:02

spights,

What kind of revenue will this bring Polo's way. At 100,000 ozs it seems to me around £65,000,000 and at 200,000 ozs = £130,000,000 for BLK. How much of that revenue will end up as gross or net profit?