Sharesmagazine
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Share Price   Awards   Market Scan   Videos   Broker Notes   Director Deals   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Indices   Forward Diary   Forex Prices   Shares Magazine   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Comparison Tables   Spread Betting 
You are NOT currently logged in
Register now or login to post to this thread.

GLOBAL COAL MANAGEMENT (GCM)     

smiler o - 21 Feb 2007 15:09

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/

Chart.aspx?Provider=EODIntra&Code=GCM&SiChart.aspx?Provider=EODIntra&Code=GCM&Sifree counters"

smiler o - 15 May 2007 10:24 - 58 of 660



Tuesday, 15 May 2007, 00:39 GMT 01:39 UK



Coal 'can be clean and reliable'

There has been a renewed interest in mining
New technology means coal can be both a clean and secure source of energy, according to a UK think-tank report.
High in carbon emissions - a key factor causing climate change - coal has typically been seen as a dirty fuel.

But the environmental damage can be reduced, says the report, and unlike some renewable energy it can also be stored and provided on demand.

The report by the Centre for Policies Studies comes in advance of the UK energy white paper, expected in May.

"New clean technologies are being developed around the world which can reduce the environmental impact of coal-fired generation," the report said.

These new techniques are "proven", the study added.

"Powerfuel's new development at Hatfield in Yorkshire is an example of how a new clean coal plant can be developed in practice," it said.

The site, near Doncaster, was reopened in 2006, as part of plans to revamp the colliery and develop a clean coal power station.

Political support

Developing clean coal in the UK would not only be good for the domestic market.

It would also be an effective way of setting an example for developing economies, including China and India, so they could "take advantage of their own coal reserves" in an environmentally acceptable way.

But in order to make best use of coal, there needs to be clear political support to encourage investors and systematic planning rules for coal sites, said the think-tank.

The government should also provide the same degree of subsidy as it does for renewable energy, it added.

It argued that ultimately, if coal were developed using new technologies, it could mean a more reliable energy source and cheaper electricity for the consumer.

"Such a combination ought to be attractive to all policy-makers," the report said.







smiler o - 15 May 2007 10:38 - 59 of 660

Bangladesh: Lobbying Intensifies as Caretaker Govt. Drafts Coal Policy [ Print ]
Coal
EB Report , published 14/5/2007

Page [ 1 ]

When the caretaker government is moving fast to formulate the national coal policy, both the campaigners of open pit and underground mining have intensified their efforts to pursue the policymakers.

According to official sources, some of the campaigners are even engaged in campaign at the international level to pursue their own policy.

They said Energy Ministry has planned to organise a national seminar to discuss the issue and get advice from experts to reach a conclusion that could help formulate a national coal policy as well.

An Energy Ministry official said the government is determined to reach a conclusion by the end of the current month on the ongoing debate on which methodology either the open pit mining or the underground mining is viable and appropriate for Bangladeshs coal sector.

While such an initiative is on, both the campaigners of open pit mining and underground mining have become active to pursue the policymakers in favour of their respective campaign.

The official sources said the planned national seminar would take place in the third week of the current month in Dhaka.

The countrys eminent energy experts, academicians, economists, geologists and miners will be invited to express their views and recommendations on the coal mining issue so that the government can properly formulate the policy protecting the national interest.

The Energy Ministry already invited some energy experts to hear their views in an indoor meeting last week.

Having held this indoor meeting, the Energy Ministry officials felt that there should be more open and wide-range of discussions on the issue so that the government could take a correct decision in choosing the mining methodology.

The Energy Ministry officials said they are hopeful of getting realistic views from experts on different issues from the seminar like royalty rate, safe coal mining methodology, coal export and optimum utilisation of extracted coal for power generation.

Meanwhile, the countrys civil society, NGOs and experts are divided on the issue as to what methodology should be the appropriate for coal mining in Bangladesh.

Some of them believe that open cast coal mining methodology would be the appropriate for Bangladesh as it is possible to extract 100 percent coal with the technology.

They are also of the view that the open cast mining methodology is cost effective and safe, and easier to handle.

This group of experts openly expressed their views in favour of open cast mining methodology in a recent seminar. BUET Prof Mohammad Tamim and some other experts were present.

Another group of experts believes that open cast mining methodology would not be appropriate for Bangladesh, as it is a densely populated country. They said huge population has to be displaced from the mining area in case of the open cast mining.

While the debate is going on, an NGO under the banner of Bangla Praxis has engaged in international campaign against open cast mining in Bangladesh.

Sources said a delegation of Bangla Praxis went to Japan to demonstrate against the open cast mining in Phulbari and other projects during the recent board meeting of the Asian Development Bank (ADB) in Kiyoto.

Professor Aanu Mohammad led the delegation and organised the demonstration in association with a Japanese NGO JECSES.



smiler o - 15 May 2007 10:57 - 60 of 660

Tue. May 15, 2007


Energy crisis management
Mohammad Iqbal Karim

The present Caretaker Government (CG) has initiated a number of long overdue public actions, including power generation. However, all these actions do not necessarily appear to be well- thought out. Rushing to different size power plants, proposing import of electricity from India and Nepal, withdrawing subsidy from petroleum oil and lubricants (POL) without measures for substitution, and reconsidering coal policy, demonstrate the confusion and (again) the typical ad-hoc approach to crisis management while gas, for example, which is not yet in a crisis state but of strategic importance is benignly neglected. The other strategic flaw in energy policy and planning is the supply management approach to meet new challenges




http://www.thedailystar.net/2007/05/15/d705151501113.htm

cynic - 15 May 2007 11:55 - 61 of 660

smiler o is clearly in love with this company, but few others; that is not to say he is wrong ...... however, the chart below is pretty uninspiring, and with sp's reluctance to break through 25 dma and 50 dma only fractionally above, this would not look to be the time to buy

Chart.aspx?Provider=EODIntra&Code=GCM&Si

smiler o - 15 May 2007 12:11 - 62 of 660

Cynic This is another OXS GOLD (which I must say is going well) !! Could go two ways, I have been buying from 88p up to 150, should they get approval for this mine we are looking at a 10 + share, and untill then I think it will remain at 130 to 159 and as I have a low ish average IMO well worth the Risk, But one must not for get we are dealing with the Bangladesh Government !!!

smiler o - 15 May 2007 12:18 - 63 of 660

GHD has extensive experience in working on and evaluating major infrastructure projects and was commissioned to carry out the report by Asia Energy Corporation (Bangladesh) Pty Ltd which is developing a 15 million tonnes per annum open pit coal mine at Phulbari, in the Dinajpur District, Northwest Bangladesh, as well as a 500 MW coal-fired power plant which will be later upgraded to 1000 MW.

Over the life of the project Asia Energy intends to spend an estimated US$3 billion in capital on the mine and power plant and an additional US$10.4 billion in operating costs. Payments to the Government of Bangladesh (GoB) will exceed US$7 billion.

The project is expected to contribute significantly to the development of the Bangladesh economy by adding up to 10 per cent to the countrys energy supply by 2015, GHD said. The productivity and business growth impacts will be very significant. The US$13.7 billion indirect impact over the life of the project is likely to materially underestimate the benefit.

GHD used a multiplier of 1.75 for the indirect impacts, which it said was conservative, given that multipliers in terms of spin-off industries and service sector growth for similar large scale projects around the world range from 1.5 in highly developed countries to 3.5 in poorer, subsistence economies.

The multiplier effects included development of industries from the mines valuable co-products but did not take into account any contribution from savings on foreign exchange from substituting imported coal with local coal, which would amount to a saving of US$3 billion over the life of the project, GHD said.

The effect of this development is expected to radically improve the social and economic well being of the local, regional and national community in Bangladesh, GHD said. This will be in areas as diverse as job opportunities, health facilities and general literacy.

GHD estimated there would be 8-10 additional jobs for every person employed directly on the project. During construction phase the project will employ 2,100 people. When fully operational the mine will employ 1,200 and another 450 will work on the barging and shipment operations at Khulna, making a total of up to 16,500 new jobs.

As a result of the project, a total of US$314 million would be spent on rail and port development to provide a reliable export route.

GHD said US$4.2 billion would be pumped back into the project area in Phulbari, including US$310 million on resettlement and relocation of part of Phulbari Township and surrounding villages.

There will also be programmes to increase local agricultural production and re-cultivate the land backfilled after the mining as well as a major operation to inject water drawn down from the mine back into nearby fields which will involve laying more than 100 kilometres of pipelines.

Asia Energy, which operates in Bangladesh under an existing contract, has established a resource of 572 million tonnes of high quality thermal and semi-soft coking coal in the Phulbari basin and is waiting GoB approval of its Scheme of Development for the mine in line with its contract. Plans for the mine were given Environmental Clearance by the GoB in September 2005. Pre-mining activity is scheduled to start later this year with first coal expected in late 2008 and production then increasing rapidly to 15 million tonnes per annum by 2013.

>>>>> Putting these stats into perspective, can the government really turn this project down given their current economic status? Id be amazed if they did !!!

cynic - 15 May 2007 13:07 - 64 of 660

never ever be surprised at the crap decisions governments make! ...... try the tax nightmare if you deal in Pakistan!

smiler o - 15 May 2007 15:50 - 65 of 660

Anxiety confusing search for power?
Qazi Azad
5/15/2007

ENERGY Adviser Tapan Chowdhury is now considering the prospect of importing electricity from neighbouring Myanmar. It reflects his anxiety to overcome the debilitating chronic power shortage in the country.


http://www.financialexpress-bd.com/index3.asp?cnd=5/15/2007&section_id=5&newsid=61117&spcl=no

smiler o - 15 May 2007 18:01 - 66 of 660

ADB says Bangladesh needs to improve infrastructure

May 15, 2007

By Ruma Paul

DHAKA (Reuters) - The Asian Development Bank (ADB) said on Tuesday that Bangladesh should improve its infrastructure, including transport and power, to sustain economic growth and attract foreign investors.


http://www.ndtvprofit.com/homepage/news.asp?id=298312

smiler o - 16 May 2007 08:20 - 67 of 660

thats good to see, a 72k buy !! was that you cynic ! :))

smiler o - 16 May 2007 15:25 - 68 of 660

Global Coal Management PLC
16 May 2007

PRESS RELEASE





16 May 2007

Global Coal Management
('GCM' or 'the Company')


GCM to invest in China Coal & Energy Corporation


Global Coal Management plc ('GCM' or 'the Company') announces that it has agreed
in principle to invest US$5 million in cash for a 5% equity interest in China
Coal & Energy Corporation ('CCEC'), an unquoted BVI company operating in Beijing
established for the purpose of acquiring coking and thermal coal projects in
China. The investment is subject to a successful due diligence currently being
undertaken.


CCEC has entered into several conditional Heads of Agreements pursuant to which
it may, subject to funding, acquire or joint venture various thermal coal
projects primarily in Shanxi and Inner Mongolia, ranging from operating
integrated coal mining and coke processing facilities to coal development
projects with resources of several billion tonnes each.


GCM will evaluate a number of these projects with a view to entering into joint
ventures on a case-by-case basis. With the exception of the integrated coal
mining and coke processing facilities, the remaining coal properties are at
pre-feasibility and exploration stage but appear to be substantial coal
resources which could be suited to large scale mining.


As these projects will require significant technical assistance, GCM have agreed
to provide management services to CCEC directly and will be guiding its
technical management and development. Mr Steve Bywater, GCM's Chief Executive,
will join the Board of CCEC.


Legally binding documentation in relation to this arrangement is expected to be
signed in the coming weeks and on signatures a further announcement will be
made.


'The proposed relationship with CCEC on these exciting projects in China
utilises the strong coal management expertise that exists within the Company and
continues our aim of becoming a global coal management company,' said Steve
Bywater, GCM's Chief Executive.


The Company remains committed to implementing the Phulbari Coal Project Scheme
of Development with the Government of Bangladesh and will advise the market on
any substantive developments as they become available.


smiler o - 16 May 2007 16:27 - 69 of 660

With the world population adding 250,000 new people every dayor 1 million new people every four dayseven the minimum amount of electricity needed to sustain an exploding population is a heck of a lot of juice. And King Coal is back in style, particularly in China.



http://www.bitsofnews.com/content/view/5684/43/

smiler o - 16 May 2007 16:55 - 70 of 660

China Coal Energy - Company Profile Snapshot

Company Profile: China Coal Energy Company Ltd
Ticker: 01898
Exchanges: HKG
2006 Sales: 30,227,000,000
Major Industry: OIL, GAS, COAL & RELATED SERVICES
Sub Industry: COAL PRODUCERS
Country: CHINA
Employees: 51230

Business Description
China Coal Energy Company Ltd. The Group's principal activities are the production and sale of coal and coke, manufacturing and sale of mining machinery and the design of mining structures, trading of other products, generation and sales of electric powers, production and sale of primary aluminum, transportaion services and agency services. Other activities include project management services, surveying services, telecom engineering, consulting services, real estate exploitation and management and the provision of maintainance services. The Group's activities are carried out in the Peoples Republic of China, Korea, Japan, Taiwan and the Asia Pacific Regions.


I think this is the one ??

smiler o - 17 May 2007 20:28 - 71 of 660

Bangladesh: Lobbying Intensifies as Caretaker Govt. Drafts Coal Policy [


When the caretaker government is moving fast to formulate the national coal policy, both the campaigners of open pit and underground mining have intensified their efforts to pursue the policymakers.

According to official sources, some of the campaigners are even engaged in campaign at the international level to pursue their own policy.

They said Energy Ministry has planned to organise a national seminar to discuss the issue and get advice from experts to reach a conclusion that could help formulate a national coal policy as well.

An Energy Ministry official said the government is determined to reach a conclusion by the end of the current month on the ongoing debate on which methodology either the open pit mining or the underground mining is viable and appropriate for Bangladeshs coal sector.

While such an initiative is on, both the campaigners of open pit mining and underground mining have become active to pursue the policymakers in favour of their respective campaign.

The official sources said the planned national seminar would take place in the third week of the current month in Dhaka.

The countrys eminent energy experts, academicians, economists, geologists and miners will be invited to express their views and recommendations on the coal mining issue so that the government can properly formulate the policy protecting the national interest.

The Energy Ministry already invited some energy experts to hear their views in an indoor meeting last week.

Having held this indoor meeting, the Energy Ministry officials felt that there should be more open and wide-range of discussions on the issue so that the government could take a correct decision in choosing the mining methodology.

The Energy Ministry officials said they are hopeful of getting realistic views from experts on different issues from the seminar like royalty rate, safe coal mining methodology, coal export and optimum utilisation of extracted coal for power generation.

Meanwhile, the countrys civil society, NGOs and experts are divided on the issue as to what methodology should be the appropriate for coal mining in Bangladesh.

Some of them believe that open cast coal mining methodology would be the appropriate for Bangladesh as it is possible to extract 100 percent coal with the technology.

They are also of the view that the open cast mining methodology is cost effective and safe, and easier to handle.

This group of experts openly expressed their views in favour of open cast mining methodology in a recent seminar. BUET Prof Mohammad Tamim and some other experts were present.

Another group of experts believes that open cast mining methodology would not be appropriate for Bangladesh, as it is a densely populated country. They said huge population has to be displaced from the mining area in case of the open cast mining.

While the debate is going on, an NGO under the banner of Bangla Praxis has engaged in international campaign against open cast mining in Bangladesh.

Sources said a delegation of Bangla Praxis went to Japan to demonstrate against the open cast mining in Phulbari and other projects during the recent board meeting of the Asian Development Bank (ADB) in Kiyoto.

Professor Aanu Mohammad led the delegation and organised the demonstration in association with a Japanese NGO JECSES.

smiler o - 18 May 2007 12:12 - 72 of 660

Friday, May 18, 2007




R E G I O N: US senators urge early polls in Bangladesh


DHAKA: Fifteen US senators including Democratic presidential candidate Hillary Clinton have urged Bangladeshs army-backed interim government to end emergency rule and hold elections.

In a letter to Fakhruddin Ahmed, head of the interim authority, they called for an announcement within the next two months of a roadmap towards free and fair elections to be held as soon as possible. Bangladesh has been under a state of emergency since January 11, imposed in the wake of deadly violence between supporters of former prime ministers Begum Khaleda Zia and Sheikh Hasina.

An election planned for Jan 22 was cancelled and all political activity banned. We are troubled that the indoor ban on political activity was not lifted, as planned, on May 8, the senators said. Moreover, we are concerned by the lack of progress towards free and fair elections in Bangladesh. Fakhruddin has said he hopes to hold an election before the end of 2008, while the Election Commission said it would not be rushed by what other nations were saying.

Khaledas Bangladesh Nationalist party (BNP) and Hasinas Awami league are also demanding an early election and the immediate lifting of the ban on indoor political activity. The US senators lauded the efforts of the government to address corruption, saying that it was critically important that any anti-corruption campaign be implemented in conjunction with Bangladeshi law and international standards.

Security forces have detained more than 160 key political figures including Khaledas elder son and political heir apparent, Tareque Rahman, in an anti-corruption drive. Hasina is facing charges of extortion and murders linked to political violence in Dhaka last October, weeks after Khaleda ended her five-year term as prime minister.

Country is suffocating: Hasina told party leaders at her home on Thursday that freedoms were being stifled. No one has any political right today. People cannot speak their minds. The country is passing through a spell of suffocation, private news agency bdnews24.com quoted Hasina as saying. The government denies the country has been turned into a police state and says politicians are free to talk.

Khaleda cancelled a planned trip to Singapore on Wednesday, for a second time in three days, after charges were filed against Arafat. The case against Arafat was aimed to prevent Khaleda from going abroad, because they (the government) feel she could exert more pressure on the government from outside, a close Khaleda associate said.

Apparently the government has taken a lesson from Hasina, the associate said on Thursday, referring to wide media and diplomatic exposure the Awami League chief received while in London recently. Hasina was stranded there on her way back from a holiday in the United States after the government banned her from returning. Hasina came back on May 7 after authorities lifted the brief ban following intense local and international pressure. reuters


smiler o - 19 May 2007 08:20 - 73 of 660

ADB And The Case Of
Phulbari Coal Project

By Anu Muhammad

19 May, 2007

ADB push for Phulbari Project

At a press conference on March 27, the Asian Development Bank (ADB) country director in Bangladesh, Hua Du, expressed the ADB's eagerness for the quick decisions in favour of big Indian corporate giant Tata's proposals related with gas and coal, and the British based company Asia Energy's (AEC) Phulbari Coal Project (PCP). Both are for open pit mining. 'Business is business', she said categorically (Holiday, April 1, 2007).

It is important to note that about 70,000 people were gathered in Phulbari on 26 August 2006 to protest against the proposed open pit mining project. Law enforcers opened fire on them as they were returning home from the protest rally. Three persons were killed and hundreds wounded. Twenty of the wounded people were rendered permanent suffering, one is still in hospital with permanent disability. The action of the law enforcers, however, could not kill off the protest. More people took to the streets in a mass uprising. After days of relentless protest, participated by Bangalee, Adivasi (indigenous), women, men, senior and children, the government relented and entered into an agreement with the protestors represented by National Committee to Protect Oil, Gas Mineral resources, Port and Power.

That historic social contract clearly stated, among others,

1. 'Phulbari coal project will be scrapped and Asia energy will leave the country.'

2. 'No open pit mining will be allowed anywhere in the country'.

3. 'Steps will be taken for development and utilization of coal only after proper consultation with the people keeping national interest intact'.


Meanwhile, a committee of experts, formed by the government, submitted its report in which it observed that the Phulbari project should be cancelled in environmental, economic and legal grounds. However, as Hua Du's statement suggests, nothing can change the bank's mindset.


Why is the bank so enthusiastic to back Asia Energy on the one hand and remain indifferent to experts' opinion about, and the local peoples clear NO to, the project on the other? Why is profit for a company preferable to agencies like ADB even if it costs peoples lives, livelihood and environmental disaster although their written commitments say otherwise?

smiler o - 19 May 2007 08:42 - 74 of 660

Bangladesh: Speedy Move to Finalize Energy Policy by Next Month [ Print ]
Gas sector
EB Report , published 18/5/2007

Page [ 1 ]

The draft energy policy will be placed before the advisory council meeting soon for seeking approval. The policy include with the coal guidelines. Under the technical assistance from UN agency United Nation Development Program the proposed draft has formulates.



"We will submit the draft energy policy before the advisory council within two or three weeks," said energy and power adviser Tapan Chodhury at the Meet the Press program organized by the Forum of Energy Reporters, Bangladesh (FERB), in the city on Friday.



Underlining the diversification of energy resources, the adviser said to enact the coal policy is crying need to ensure the countrys energy security in the coming years as the proven gas reserve is expected to deplete by 2012, which might endanger the energy security.


smiler o - 19 May 2007 08:49 - 75 of 660

Power situation to improve by Sept 08
By Staff Reporter
Fri, 18 May 2007, 13:25:00

Email this article
Printer friendly page
Access News Photos

Presenting a bleak picture of the country's power situation, Energy and Power Adviser Tapan Chowdhury yesterday said it would not be possible to generate any new electricity before September 2008.

The Adviser also said the country's power plants use huge quantity of gas to generate electricity.

"If the generation of electricity continues using gas, the existing gas reserves will be depleted by 2011," he also cautioned.

In such a situation, he said that the country's future option for alternative energy source would only be coal.

"If we don't have a new discovery of natural gas, then coal will be the only option," he told reporters at a Meet the Press programme.

smiler o - 22 May 2007 10:09 - 76 of 660

Posted: Tue, May 22 2007. 12:10 PM IST
Money Matters

Coal is worlds fastest growing source of energy: ReportCoals share of total world energy may climb to 28% in 2030, from 26% in 2004

Coal is the worlds fastest-growing energy source as rising oil prices prompt users to switch fuels, the U.S. Energy Information Administration said.
Coals share of total world energy may climb to 28% in 2030, from 26% in 2004, the agency, part of the U.S. Energy Department, said in a report published yesterday. Consumption is growing an average of 2.2% a year. The fuel will overtake oil to become the largest source of carbon dioxide emissions by 2010, the report said.
With oil and natural gas prices expected to continue rising, coal is an attractive fuel for nations with access to ample coal resources, especially in coal-rich countries like China, India, and the United States, the report said. These three countries combined account for 86 percent of the increment in world coal demand by 2030.
Crude oil for June delivery traded at $66.35 (Rs2,695) a barrel on the New York Mercantile Exchange today and has more than doubled since the start of 2004. Prices of Newcastle coal have gained 33% in that period, according to McCloskey Group Ltd.
Petroleum and other liquid fuels will have a 34% share of global energy use in 2030, down from 38% in 2004.
Coal consumption will fall in Europe and Japan where natural gas and nuclear power are likely to continue providing significant amounts of electricity, the report said.

smiler o - 26 May 2007 10:42 - 77 of 660

Bangladesh sees economic toll from political turmoil
Thu May 24, 2007 6:39 PM IST

By Serajul Islam Quadir

DHAKA (Reuters) - A drive to clean up Bangladeshi politics by the army-backed interim government could lay the groundwork for more sustained economic growth, but businessmen said it was also taking a toll on the economy in the short term.

Bangladesh has been under a state of emergency since Jan. 11, imposed in the wake of deadly violence between supporters of former prime ministers Begum Khaleda Zia and Sheikh Hasina.

An election planned for Jan. 22 was cancelled and all political activity banned as the government clamped down on corruption, detaining more than 160 key political figures in the process.

About $6 billion in foreign investment decisions are on hold until an elected government is in place, and the political uncertainty has slowed economic activity, businessmen said.

In addition, food prices are rising as Bangladeshis hoard supplies, partly because of the political uncertainty. The country has raised fuel prices, adding to inflation worries.

"We want to see corruption reduced and controlled, but at the same time we want to see the investment taking place," A. Gafur, executive director of American Chamber of Commerce in Bangladesh, said.

"The initiatives taken by the present government will in the long run help business and economy," Gafur told Reuters.

"People want to give time to this administration, but at the same time they do not want any waste of time."

The governor of Bangladesh's central bank, Salehuddin Ahmed, said on Wednesday the economy might miss some key economic targets.

He said economic growth might fall short of the 6.5 percent target in the current fiscal year to the end of June.

Inflation could also top a target of 6.95 percent this fiscal year and push into double-digits later unless the country organised more supply of staple food to alleviate price pressures.

Billions in investment proposals are on hold for projects in such sectors as energy, coal mining, fertiliser and steel.

"At the end of year 2007, Bangladesh may miss the target to secure $1 billion in foreign direct investment by up to 30 percent," said Mohammad Nazrul Islam, the head of the state-run Board of Investment (BOI).

S. Manzer Hussain, resident director of India's Tata Group, which has proposed investing $3 billion in the country, said the company was waiting for a return of an elected government before finalising a deal.

"We want to continue our discussion with the present government but prefer to get a decision from a political government," he said.

Britain's Asia Energy has a $3 billion investment proposal and the Abu Dhabi Group of United Arab Emirates has a $2 billion proposal, BOI's Nazrul said.

Fakhruddin Ahmed, a former central bank chief who heads the interim government, has said an elected government was possible before the end of 2008.

Still, Abu Ahmed, professor of economics at the Dhaka University, said Bangladeshis have hopes that the government's efforts will lead to a more prosperous future.

"Now the country is free from anti-economic growth activities, and people see light at the end of tunnel," he said
Register now or login to post to this thread.