Global Coal Management Plc (formerly Asia Energy PLC)



Overview

GCM Resources plc (GCM) is a London-based resource exploration and development company. Its principal asset is its undeveloped coal deposit in the Phulbari region of Bangladesh, the development of which is awaiting approval from the Government of Bangladesh. It also has investments in other companies with mining interests. The company's shares are quoted on the Alternative Investment Market (AIM). (Ticker code: GCM).

The Phulbari Coal Project is a substantial, world class coal resource that will support a long life, low cost mining operation. It is the only such deposit in Bangladesh that has been subjected to a full Feasibility Study and Environmental and Social Impact Assessment prepared to international standards. In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest social and environmental standards. By doing this, GCM seeks to maximise the benefits of the Project for both the Company’s shareholders and the people of Bangladesh.

The Company (GCM) under its former name, Asia Energy PLC, was incorporated in England and Wales as a public limited company on 26 September 2003. Asia Energy PLC was admitted to the Alternative Investment Market (AIM) of the London Stock Exchange on 19 April 2004. Through seed capital raising and the subsequent placement of shares, some £14 million was raised.

In November 2005, following submission to the Government of Bangladesh of the Phulbari Coal Project's Feasibility Study and Scheme of Development, the Company placed an additional 7 million shares and raised a further £33 million.

GCM actively reviews investment opportunities in order to broaden its global investment portfolio.

Coal Project facts

■ Energy security and diversity – The Project has a unique role to play in addressing the country’s electricity shortfall as its development will provide the basis for a step change in the country’s electricity generating capacity.
■Regional development – The Project will provide 17,000 jobs (direct and indirect). In addition the development of new industries using the industrial mineral co-products from the mine will create thousands of more jobs. The living conditions of all affected people will be improved and their livelihoods will be restored and in many cases improved. As a result of year round irrigation, improved water quality, improved inputs and improved farming practices it will be possible to produce three crops per year with higher yields than at present.
■Huge economic impact – Phulbari will contribute 1% to Bangladesh’s GDP each year and pay US$7.0 billion in taxes, royalties and service charges to the Government over the life of the Project. The replacement of high sulphur imported coals and other hydrocarbons will have a positive effect on balance of payments and air quality.

In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest national and international social and environmental standards. By doing this, GCM seeks to maximise the benefits of the Project for both the company’s shareholders and the people of Bangladesh.

Background

Bangladesh is one of the most densely populated countries in the world with some 162 million people living in an area two thirds the size of the United Kingdom or about the size of New York State. Less than one third of its population live in cities while the majority live in rural areas relying on a predominantly subsistence lifestyle. GDP per capita is around US$1,700 (ppp) per annum compared with a world average of US$10,500. Less than half the population have access to electricity. Bangladesh is a country of enormous potential. It has the eighth largest work force in the world and is included in the “Next Eleven” countries that, after the BRICs (Brazil, Russia, India, and China), were identified by Goldman Sachs as having the potential to become the world’s largest economies in the 21st century. It has enjoyed more than 6% economic growth in real terms over the last five years as well as substantial improvements in measures of human development. For example, between 1980 and 2006 life expectancy has improved from 48 years to 63 years and literacy rates have improved from 29% to 53%.

Bangladesh is one of the most climate vulnerable countries in the world with a significant proportion of the population living in remote or ecologically fragile areas such as river islands or cyclone prone coastal areas. Two thirds of the country is less than five metres above sea level making it vulnerable to the predicted effects of climate change.

Although Bangladesh is vulnerable to the effects of climate change, it is not itself a significant emitter of carbon dioxide. Per capita carbon dioxide emissions (0.3t/capita) are substantially below other countries in the region (Pakistan 0.9t/capita, India 1.4t/capita, China 4.9t/capita) which themselves are substantially less than emissions from developed countries (UK 8.9t/capita, USA 18.9t/capita). Even with the addition of the 4,000MW of electricity capacity which Phulbari coal could support, Bangladesh would still be one of the lowest emitters of carbon dioxide in the world, substantially less per capita than its neighbouring countries.


http://www.gcmplc.com/

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Bangladesh: Rajshahi Mayors Agreement on Phulbari Coal Mine Illegal [ Print ]
Coal
EB Report , published 30/8/2007

Page [ 1 ]

The Law Ministry of Bangladesh has termed illegal the agreement signed a year ago between the Rajshahi City Mayor and the `National Committee for Protecting Oil, Gas and Mineral Resources on Asia Energys deal for Phulbari coal mine project.

There is no scope of using the Committees agreement as a reason to cancel the Asia Energy deal; it said referring to a legal opinion of the Attorney General.

Official sources said the Law Ministrys remarks came in reply to a number of queries from the Energy Ministry, which sought clarification about the status of the National Protection Committees agreement and also of the Asia Energy deal with the government.

After a vigorous agitation in Phulbari coal mine area, the Rajshahi City Corporation Mayor was forced to sign a Memorandum of Understanding (MoU) with the `National Protection Committee on

August 30, 2006.

One of the seven conditions of the agreement was that the government would cancel its deal with Asia Energy and also expel the company from the country.

Following the agreement, the Energy Ministry sought clarification from the Law Ministry regarding implementation of the agreement and also about the deal with the Asia Energy under which the UK-based company conducted a feasibility study at a cost of US$ 20 million.

The sources said the Law Ministry, after reviewing both the agreements, took the opinion of the Attorney General that the then political government in order to meet the emergent crisis in the particular locality, made arrangements as such.

The chief law officer of the government said: The Mayor, being a peoples representative, his legal status, legal authority may not be an issue. The said National (protection) Committee, on the other hand, it may be noted, does not seem to be a recognized legal entity.
He added: In the absence of proper papers, it cannot be ascertained if the said National Committee has been established by or under any authority of law. Its representative character does not seem to be quite clear. Having regard to the foregoing, so far as the legal status of the MOU is concerned, it appears that the MOU does not seem to have any force of law or any legal basis.

Regarding the Energy Ministrys query about cancellation of the Asia Energy deal, the Law Ministry said the Asia Energy was given approval for the feasibility study, not granted the mining license.

However, the Law Ministry said that if the government cancels the deal with Asia Energy, it has to follow certain procedures. But in such case, Asia Energy may chose to take the matter for international arbitration

http://www.energybangla.com/article_det.asp?aId=672

Bangladesh: No Gas for Eight Proposed Large & Medium Power Plants [ Print ]
power sector
EB Report , published 2/9/2007

Page [ 1 ]

By- Aminul Islam

The Power Division of Bangladesh is set to face a major setback in implementing at least eight large and medium power plant projects to generate a total of 1,700MW electricity as Petrobangla has informed the Power Development Board that it will not be possible to supply gas to the plants.

The country is likely to face an acute gas shortage by 2011 and with the current reserve of gas it will not be possible to supply gas to a number of proposed power plants, including the 450MW Meghnaghat-II independent power plant, Petrobangla chairman Sheikh Abdur Rashid informed the PDB in a letter last week.

The PDB earlier told Petrobangla that around 1,069 million cubic feet of gas per day would be needed to fuel 18 proposed government power plants with a total capacity of 3,825MW and five IPPs with 1,840MW capacity. The plants are schedule to come into operation by 20102012.

Petrobangla named at least eight power plants that would not get gas supply and advised the PDB to relocate two proposed 100MW rental power plants at Baghabari and Haripur to areas adjacent to gas fields.

The other plants which may not get gas supply include the 450MW Ashuganj power plant, 225MW Shikalbaha plant, 210MW Shiddhirganj second unit, 225MW Ghorashal plant, and 150MW Sylhet Gas Turbine.

Petrobangla informed the PDB that it would be possible to supply gas to around 14 proposed big and medium power plants, including four 450MW IPPs and the 360MW Haripur power plant, by 20102011 once Petrobangla completed installing two compressors at Ashuganj and Muchai by 2009 and gas transmission lines to Rajshahi and Khulna.

Apart from the eight power plants named above, Petrobangla will not be able to supply gas to the first phases of three other rental power plants 50MW Shikalbaha, 20MW Barabkunda, and 20MW Feni because of the gas crisis in Chittagong following a decline in production at Sangu gas field, Sheikh Abdur Rashid told the PDB.

He also said that Petrobangla could not guarantee gas supply for the second phases of three more rental power plants 50MW Comilla, 100MW Ashuganj and 200/100MW Meghnaghat if they were set up at the present proposed sites and advised the PDB to relocate them to near Koilashtila gas field and at Fenchuganj and Muchai.
Petrobangla confirmed availability of gas for four 450MW IPPs Sirajganj,

Bibiyana, MeghnaghatIII, and Bheramara and 90MW Fenchuganj and 240MW Shiddhirganj plants that are now under construction.

The other proposed power plants that will get gas include the 360MW Haripur plant funded by the Japan Bank of International Cooperation, the Asian Development Bank-funded 150MW Sirajganj and 150MW Khulna plants, the World Bank-funded 2X150MW Shiddhirganj plant, the Islamic Development Bank-funded 150MW Bhola, and the government-funded Sylhet 150MW combined plant and 150MW Shikalbaha, 150MW Chandpur and 210MW Khulna dual-fuel plants.

It will be a major setback for the power sector, if the eight big power plants could not be installed because of gas shortage, as the country is facing a huge power shortage, said a Power Division official, adding that the division planned to add more than 5,000MW power to the national grid by 2012.

Most of these power plants are on the list already submitted to the chief adviser so that we can complete the pre-tender paper work or the tender procedure before this interim government leaves office in 2008, he said.

Petrobangla officials, however, said that they were not informed about a number of power plants as the PDB planned those projects on its own, without consulting Petrobangla.
We are following our gas sector master plan. The PDB has chalked out a number of power plants, like the 450MW Bibiyana independent power plant, in contradiction with the master plan.

They recently also have planned 300MW rental power plants which are not in the power sector master plan as well, said a Petrobangla official

The Power Division in 2006 struck an agreement with a consortium to set up the Meghnaghat-II power plant, one of the plants that according to Petrobangla will not get gas supply, officials of the division said.

Although the agreement with the consortium will be scrapped as it has failed to install the plant in time, the division plans to invite fresh tender for setting up the plant. Petrobangla had given us commitment to supply gas to Meghnaghat-II, said an official.

Besides, the government has already discussed the funding of 210MW Shiddhirganj power plant with Russia and 225MW Shikalbaha with the Kuwait Fund and the 450MW Ashuganj plant is supposed to be set up by Japanese buyers credit. We have got assurance from these countries of funding to set up the plants, the official added.

He said they would further discuss with Energy Division about the availability of gas for the power plants. They have to prioritise gas supply and the power sector should get top priority.
Petrobangla officials said it would not be possible to supply gas to the proposed Ashuganj and Ghorashal power plants as it would result in a severe gas crisis in the capital.

About the Meghnaghat-II plant, they said Petrobangla would be able to supply gas to only one of the two 450MW plants at Meghnaghat.
A Petrobangla high official said they would be able to supply gas to the proposed power plants if any new gas fields were discovered in the country. At present power plants consume 40 per cent of the 1,6601,690mmcfd of the Petrobangla gas.

Crisis: Bangladesh: Power Generation Going Nowhere
[ Print ]
power sector
EB Report
published 3/9/2007


"In the meantime the coal mining must be given go ahead. Wherever, possible open pit mining method should be adopted without any fuss. We may need to plan setting up at least 1000 MW coal based power plants in the next 5years."

"We appeal to CTG to take immediate actions on Coal mining. The so called civil society creating noise made the policy makers confused. The country is suffering from gas, coal crisis to make this available for power generation."

"We want to see some positive actions. We want that the CTG initiatives are taken in a proper and pragmatic way. Continued power generation crisis may not be pleasant for any one.PDB and Petrobangla please stop blame game. We are in crisis, we need intergraded action plan to manage crisis."


http://www.energybangla.com/article_det.asp?aId=683

RNS Number:2075D
Global Coal Management PLC
03 September 2007

Global Coal Management plc
("the Company")

Notification of significant holding

Under the FSA Disclosure and Transparency rules DTR 5, the following information
falls to be disclosed:

The Company was notified on 31 August 2007 that Argos Greater Europe Fund has an
interest in the shares of the Company resulting in a total holding of 1,490,000
Ordinary Shares in the Company. This represents 3.05% of the issued share
capital of the Company.

Lets hope they get the go-ahead soon !! then sit back and watch this share go !!!

looks to be going already!

hello cynic...... this has been a political nightmare... still IF this get's the go-ahead could see a good return Just like oxs !!!

Coal policy not to ban any mining
method to keep options open
Staff Correspondent

The advisory committee, formed to finalise the draft coal policy, has decided in principle that the policy would not recommend or ban any particular mining method to keep options open for both open-pit and underground mining in the country.
The committee, headed by former BUET vice-chancellor Abdul Matin Patwari, at a meeting on Monday evening reviewed recommendations of different rights group and professionals including the National Committee to Protect Oil, Gas, Mineral Resources, Power and Port and the Citizens Commission of the Bangladesh Economic Association.
The committee, however, did not agree in principle with the recommendations of the oil and gas committee and economic association, which were submitted recently, to drop the open-pit mining method from the coal policy.
The groups demanded that the open-pit mining method should be dropped from the policy as it would pollute the environment, oust thousands of people from their homesteads and destroy fertile farmland that produces three rice crops in a year.
The advisory committee also shared the view of the two groups that no coal export should be allowed from the country to ensure the energy security of the coming generations.
We should not recommend or ban any mining method in the policy as the method should be fixed on the basis technical, social, environmental and economic aspects. If it is found that open-pit mining is not viable after analysing the costs and benefits, it is natural that no one will want to engage in open-pit mining, Patwari told the meeting.
Other members present at the meeting included University Grants Commission chairman and environmentalist Nazrul Islam, Dhaka University terachers Badrul Imam and Mustafizur Rahman and Petrobangla director Maqbul-E-Elahi, all of whom echoed Patwaris view.
Five other committee members were not present at the meeting. Patwari, based on the estimate of the requirement for coal in the country for power generation, observed that if the country adopts only underground mining system, the extracted coal would be fully consumed even before 2025 although the government wanted to ensure energy security for 50 years.
He told the meeting that the oil and gas committees convener, Sheikh Shahidullah, recommended that the country should immediately go for underground mining in all coal-fields and after 20 years, if it is found viable, the country could go for open-pit mining after developing its own technical manpower.
So, Mr Shahidullah has not ruled out open-pit mining forever, he said.
As per the estimate of the framers of the draft coal policy, around 235 million tonnes of coal can be extracted by underground mining from four coal-fields that have a combined reserve of around 1,168 million tonnes.
On the other hand, around 1,050 tonnes of coal could be extracted by open-pit mining.
As per the power sector master plan, the country will need 41,890 megawatts of electricity by 2025 if the growth rate is considered to be 8 per cent. The draft coal policy estimated that country would need around 450 million tonnes of coal by 2025 to generate around 32,837 megawatts of electricity and rest of the electricity would be generated by gas. By 2035, a total of 1,200 million tonnes of coal will be needed if no new power plants are set up after 2025.
Professor Badrul Imam, however, told the meeting that even if the open-pit mining method is allowed in the country, it would be impossible to operate more than one open-pit mine as countrys coal reserve is situated in only two districts.
The committee members will visit Barapukuria, Phulbari and Dighipara coal-fields on September 11-12 before starting to review thoroughly the draft of the coal policy submitted by the energy division.

Positive contributions to the Funds performance during July were few and far between. Pleasingly, however, most of these were to
be found amongst our holdings in smaller commodity-focused companies, which had performed poorly during recent months. Of the
Funds larger holdings in this space, Mercator Gold, Global Coal Management and Norseman Gold all rose slightly during the
month, and all three continue to offer exceptional value in our view.



http://www.argos-funds.com/assets/af/001/downloads/argos_monthlyReview-AGEF.pdf

Published On: 2007-09-05
Point Counterpoint
Dealing with existing coal projects
Forrest Cookson

At present, Bangladesh has a law that governs the exploration and development of minerals. This law sets out the procedures to be followed and the taxes that are to be paid. Any company wishing to develop mineral resources in Bangladesh must work within this law.

The two major private sector companies involved in coal -- the Tata with a number of proposals and Asia Energy's Phulbari project both conceived and investigated their ideas within the framework of this mineral law. Tata has made definite proposals to the Government reflecting work done on the feasibility of the coal mining and use of the coal in steel production and power generation; these projects are effectively proposals by Tata drawn up and prepared with the full support of the Government.

Tata was encouraged by the Government and their analysis must follow the law of Bangladesh. Asia Energy has carried out exhaustive exploration, environmental and resettlement studies in conjunction with the preparation of a mine development plan, all as required by the Government according to the law.

The implication of the preparation of a new coal policy is that Government intends to modify existing law. Bangladesh has a clear sovereign right to carry out whatever changes it wants to make to existing law.

However, in doing so it must take account of the current law and agreements made or implied under that law. Under the Foreign Investment Protection Act the Government has legislated that it will not destroy a foreign investor's project by major changes in the conditions under which the company operates.

It would be against Bangladesh law for example to raise the taxes imposed on a particular company to such a level as to effectively expropriate it. New legislation derived from the coal policy should explain clearly the position of companies working under the existing legislation. The proposed 20% royalty rate has precisely that effect.

While any country has the sovereign right to do what it wants; one has to live in an international community where actions may have consequences. One approach used to handle companies that are investing under a law or regulatory regime that is changed is to "grandfather" the existing companies into the new law; having the old laws apply to these grandfathers. New participants would fall under the new law as such groups would know the rules but Tata and Asia Energy would continue to operate under the old laws.

Persons outside Government have demanded the cancellation of the Asia Energy contracts and agreements. Under the previous regime the Ministry of Law, Justice and Parliamentary Affairs was requested by the Ministry of Energy to give an opinion on whether the contract could be cancelled without serious penalty.

The response of the Ministry is unknown. I have asked several eminent lawyers what they thought. All replied that there is no basis for cancellation of the contract that does not expose the Government to possibility of a significant arbitration award.

The negative factors that may flow from cancellation of the contract or major changes in the rules are:

* Foreign investors would be much more hesitant in investing in Bangladesh for fear that the Government would turn on them canceling contracts without justification, etc. I will be answered with the claim that there will be many investors ready to come forward -- that is correct, but they will demand much better terms. The risk of investing in Bangladesh already perceived as high would be higher still and consequently higher returns would be demanded.
* The coal reserves at Phulbari would be tied up in litigation making it impossible to exploit these resources until the legal issues are settled. Asia Energy's lawyers could attempt to block any exploitation involving a foreign company. There will be endless litigation, prospect of which will discourage foreign companies from working on this asset.



Similarly the World Bank, IDB or ADB would not touch a project at Phulbari with a background of contract cancellation. Even domestic financed exploitation may run into claims by Asia Energy that their rights have been violated and they will attempt to seize Bangladesh Government property overseas.

* The dispute involves investors in the UK. In my view the British Government would face difficulty continuing its program here if such an expropriation of Asia Energy took place; indeed Asia Energy's lawyers may go to court to prevent foreign assistance until their claims are settled.
* The dispute would go to arbitration. Asia Energy would argue for recovery of their costs -- perhaps $40-60 million and recovery of what the existing investors stand to earn. I estimate this at $1-2 per ton of coal.



That is $500-1,000 million over a thirty-year period. In addition there would be court costs and interest costs as it could take years to settle. If Bangladesh refused to pay then the consequences would be very severe in terms of access to the international capital markets as well as the IMF, ADB, World Bank etc. Of course Bangladesh may win its case in arbitration but the risks should be understood.

Cancellation of these projects or changing conditions effectively expropriates and starts down a dangerous path with the outcome uncertain and potentially expensive. Grandfathering under existing law is the better way to go forward here.

RAB Special Sits continuing to add:


Global Coal Management PLC
11 September 2007


TR-1(i): Notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing Global Coal Management
shares to which voting rights are attached(ii):
2. Reason for the notification (please tick the appropriate box or boxes)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments which may result in the acquisition of
shares already issued to which voting rights are attached
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation RAB SPECIAL SITUATIONS (MASTER) FUND
(iii): LTD
4. Full name of shareholder(s) (if different from 3.)(iv): MERGEFIELD 'Shareholder' CREDIT SUISSE
CLIENT NOMINEES (UK) LIMITED
5. Date of the transaction (and date on which the threshold is 07/09/2007
crossed or reached if different)(v):
6. Date on which issuer notified: 11/09/2007
7. Threshold(s) that is/are crossed or reached: 23%
8. Notified details: n/a




A: Voting rights attached to shares
Class/type of Situation previous to Resulting situation after the triggering transaction(vii)
shares the Triggering
transaction (vi)
if possible Number of Number of Number of Number of voting rights % of voting rights
using the ISIN Shares Voting shares ix
CODE Rights Direct Direct x Indirect Direct Indirect
viii xi


ORDINARY 10,643,126 21.81% 11,629,511 11,629,511 n/a 23.83% n/a
SHARES
B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial Expiration Exercise/ Conversion Number of voting rights % of voting
instrument date xiii Period/ Date xiv that may be acquired if rights
the instrument is
exercised/ converted.
n/a n/a n/a n/a n/a
Total (A+B)
Number of voting rights % of voting rights


A ONLY 23.83%





9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are
effectively held, if applicable xv:
RAB Capital plc acts as investment manager for RAB SPECIAL SITUATIONS (MASTER) FUND LTD. RAB Capital plc
does not act as custodian for its clients and therefore the shares are held in the nominee name of the
custodian of its clients, which is CREDIT SUISSE CLIENT NOMINEES (UK) LIMITED.



MERGEFIELD 'Note'
Proxy Voting:
10. Name of the proxy holder: n/a
11. Number of voting rights proxy holder will cease to hold: n/a
12. Date on which proxy holder will cease to hold voting rights: n/a
13. Additional information: n/a
14. Contact name: LEGAL TEAM
15. Contact telephone number: 020 7389 7000




Annex Notification Of Major Interests In Shares xvi
A: Identity of the person or legal entity subject to the notification obligation
Full name (including legal form for legal entities) RAB CAPITAL PLC FOR AND ON BEHALF OF MERGEFIELD
'Fund' RAB SPECIAL SITUATIONS (MASTER) FUND LTD
Contact address (registered office for legal entities)

C/O RAB CAPITAL PLC,

1 ADAM STREET,

LONDON WC2N 6LE


Phone number 020 7389 7000
Other useful information (at least legal representative
for legal persons)

B: Identity of the notifier, if applicable xvii
Full name ALL AS ABOVE
Contact address
Phone number
Other useful information (e.g. functional relationship
with the person or legal entity subject to the
notification obligation)

C: Additional information
n/a

Hello Smiler - (from S. Africa) good to see RSS adding.... a man of conviction obviously. As he says, he'll either be right or he'll be wrong!

Hope you & AM are having a good time !! At 90p IMHO worth the risk !! :)

yes i think so Smiler - even cheaper today.... how low can it go!!!!

Fogl going well :)

Petrobangla, BCMCL, CMC Sign Side Letter Deal on Barapukuria Mine
[ Print ]


Coal

EB Report , published 14/9/2007

Page [ 1 ]



Petrobangla, Barapukuria Coal Mining Company Limited and a Chinese Consortium led by CMC have signed a side letter agreement on completion of development work of Barapukuria coal mine.



The side letter agreement was signed on Wednesday so that the consortium finishes incomplete development work of the mine as per the original development agreement signed in 1994, Petrobangla officials said.



When the consortium will finish the development work, BCMCL, a subsidiary of Petrobangla, will issue takeover certificate to the consortium.



The consortium was also given a six-year service contract for producing coal from the field in 2005. But it failed to produce coal as per the contract.



A Petrobangla release said the visiting president of CMC, Tang, assured the government that the consortium would take all out efforts to recover the closed section (1100) of the coal mine which was shut for the second time because of emission of carbon monoxide.



The CMC will purchase a new set of equipment to produce coal as equipment worth millions has remained abandoned at the closed compartment. Petrobangla requested CMC not to charge BCMCL for the equipment.

Bangladesh: Set up Coal-Based Power Plants in Northern Districts

power sector

EB Report , published 15/9/2007

Page [ 1 ]



Speakers in a seminar in Rangpur recently extraction of coal from northern region mines and setting up coal-based power plants to meet the need.



The seminar was organized jointly by Rangpur Chamber of Commerce and Industry (RCCI) and Greater Rangpur Welfare Somiti, Dhaka (Bangladesh) at RCCI conference room.



They urged the government not to pay heed to those who are obstructing extraction of coal from the region.

RCCI president Mostafa Azad Choudhury presided over the seminar while president of Greater Rangpur Welfare Somiti and also former National Board of Revenue (NBR) executive chairman Nazrul Islam moderated it.



Four keynote papers on 'Development of Greater Rangpur and Northern Region: Problems and Potentiality' were presented at the seminar.



Former chairman of Bangladesh Chemical Industries Corporation (BCIC) and former chief engineer of Local Government Engineering Department (LGED) Monwar Hosen suggested in the seminar that the government should set up two urea fertiliser plants in Rangpur or any other places in northern region.



Former chairman of Bangladesh Power Development Board Brig Gen (Rtd) MA Malek and vice-president of Greater Rangpur Welfare Somiti M A Mojid addressed among others in the seminar.

Sunday, September 16, 2007 03:26 PM GMT+06:00

Published On: 2007-09-14

Efficient use can save 800MW electricity: Energy experts
Staff Correspondent

Energy experts at a roundtable yesterday gave energy saving through its efficient use a top priority followed by setting up coal-based power stations in the northern part of the country to meet the increased power demand and ensure energy security.

Terming corruption and mismanagement as the major obstacle for setting up new power plants in public sector, they said the government should provide private sector with finance and other facilities to set up power plants to add more power to national grid.

The roundtable styled 'Energy efficiency: Third fuel for Bangladesh' was organised jointly by Energy and Power, a fortnightly magazine, in association with German Technical Cooperation (GTZ) at the Cirdap auditorium in the city.

"No load shedding would be there if we could save 700MW to 800MW of electricity. Both the engineers and common people should think of how we can save more energy," said Energy Adviser Tapan Chowdhury while speaking as chief guest at the roundtable.

He said a lot of gas is being misused in some industries while there is only 13.5 tcf (trillion cubic feet) of reserve that will hardly continue up to 2012 to 2015.

"The other source of energy is coal, but it is very unfortunate that we could not take any decision on coal yet. If we cannot take a decision, we are going to face serious consequences in future," Tapan added.

Experts will have to make strong recommendations on coal, he said as journalists asked why the government is not taking any decision on it.

Urging all to use energy-efficient bulbs, he said a proposal has been sent to the finance ministry to import energy-saving bulbs.

In the keynote presentation, German Development Cooperation Senior Adviser Dr Khursheed-Ul-Islam said efficient use of power in thermal, electrical and even combined heat and power systems could save around 800MW of electricity.

"This is equivalent to two-power-plant capacities or deferring electric power demand growth for two years," he said, adding that application areas for efficient energy use are domestic, commercial and industrial lighting, industrial motors and power factor improvement.

The other options for future energy security are solar, bio-mass, bio-gas, wind and hydro power, but the penetration of these renewable sources is low with the major barriers being financial, technical and social, said Khursheed, also former consultant of World Bank's First Energy Audit Project.

Prof Nurul Islam of Bangladesh University of Engineering and Technology (Buet) suggested introduction of a course for electrical engineering students on efficient use of energy.

Stressing the need for strengthening the government's regulatory activities to monitor such energy saving issues, he said the NGOs, working on renewable energy projects, often end up their projects due to discontinuation of funding, which ultimately brings no result.

BD Rahmatullah of Rural Electrification Board said Bangladesh is the only country where energy efficiency and conservation are not stressed.

There is 21 percent system loss in the electricity, while a lot of indiscipline is existing in the metering system, he added.

At least 2000MW electricity could be added through efficient use of energy and captive power plants, Rahmatullah said, adding, "We have the crisis in management and thinking."

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Nasir Hossain said the government should have a policy for efficient use of energy as well as encourage the local industries to set up power plants and add to the national grid, making the grid an 'energy super highway'.

Stressing on privatisation in energy sector, he said the worst victims of power crisis are the small and medium enterprises.

Prof Shahnawaz Ahmed and Dr Ijaz Hossain of Buet, Dipal Barua of Grameen Shakti, Mostafizur Rahman of Energy Audit Cell, and Brig Gen Nazrul Hasan of Desa also spoke at the roundtable moderated by Energy and Power Editor Mollah Amjad Hossain and Journalist Farid Hossain of AP.

http://www.thedailystar.net/story.php?nid=3959

Global Coal Mgmnt Holding(s) in Company

RNS Number:9873D
Global Coal Management PLC
17 September 2007


TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing Global Coal Management
shares to which voting rights are attached(ii):

2. Reason for the notification (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights X

An acquisition or disposal of financial instruments which may result in the acquisition of
shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation RAB SPECIAL SITUATIONS (MASTER) FUND
(iii): LTD

4. Full name of shareholder(s) (if different from 3.)(iv): MERGEFIELD "Shareholder" CREDIT SUISSE
CLIENT NOMINEES (UK) LIMITED

5. Date of the transaction (and date on which the threshold is 14/09/2007
crossed or reached if different)(v):

6. Date on which issuer notified: 17/09/2007

7. Threshold(s) that is/are crossed or reached: ABOVE 24%

8. Notified details: n/a




A: Voting rights attached to shares
Class/type of Situation previous to Resulting situation after the triggering transaction(vii)
shares the Triggering
transaction (vi)
if possible Number of Number of Number of Number of voting rights % of voting rights
using the ISIN Shares Voting shares ix
CODE Rights Direct Direct x Indirect Direct Indirect
viii xi


ORDINARY 11,629,511 23.83% 11,754,511 11,754,511 n/a 24.08% n/a
SHARES
B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial Expiration Exercise/ Conversion Number of voting rights % of voting
instrument date xiii Period/ Date xiv that may be acquired if rights
the instrument is
exercised/ converted.
n/a n/a n/a n/a n/a


Total (A+B)
Number of voting rights % of voting rights


A ONLY 24.08%





9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable xv:

RAB Capital plc acts as investment manager for RAB SPECIAL SITUATIONS (MASTER)
FUND LTD. RAB Capital plc does not act as custodian for its clients and
therefore the shares are held in the nominee name of the custodian of its
clients, which is CREDIT SUISSE CLIENT NOMINEES (UK) LIMITED.



MERGEFIELD "Note"

Proxy Voting:

10. Name of the proxy holder: n/a

11. Number of voting rights proxy holder will cease to hold: n/a

12. Date on which proxy holder will cease to hold voting rights: n/a

13. Additional information: n/a

14. Contact name: LEGAL TEAM

15. Contact telephone number: 020 7389 7000

Friday, September 21, 2007 02:29 PM GMT+06:00


Metropolitan
Coal Policy
Govt body to visit mine, coal rich areas today
Staff Correspondent


The committee tasked with finalising a coal policy for the country will be visiting today Barapukuria coal mine, Phulbari, Khalashpir, Dighipara and a few other areas that are rich with coal deposits.

The members of the committee, accompanied by the energy secretary, will talk with the officials of Barapukuria Coal Mining Company as well as with the locals of Phulbari, including the ones who have been opposing the coal-mining proposal of Asia Energy, said sources.

On the way, the committee will visit the Dighipara and Khalashpir coal zones, the sources added.

The committee also intends to visit and survey the area of Jamalganj -- the country's biggest coal deposit -- where no visible surface marking is available.

Furthermore, the committee that was formed in June has decided to send two of its members -- Prof Nurul Islam from Bangladesh University of Engineering and Technology (Buet) and Prof Badrul Imam from Geology Department of Dhaka University -- to the upcoming Saarc coal conference to be held in Kolkata in mid-October.

The committee recently resolved a vital debate on the mining method in the draft of national coal policy. While one group of people had been putting pressure on banning the open-pit method of mining in Bangladesh, the other group wanted all mining option to be open for particular mining proposals.

The committee decided that the policy would not restrict any mining method since it depends on technical issues such as geology or hydrology etc. and the government should have the discretionary authority to approve a mining method against each mining proposal.

The committee headed by Prof Abdul Matin Patwari, former vice chancellor of Buet, was formed as the sixth draft version of the national coal policy drew a lot of criticism for being anti-investment and self-contradictory.

The finalisation of the national coal policy is seen as a crucial document for the future of the existing deals with Asia Energy or Hosaf as well as for other offers that are pending government approval.