By Editorial Note: Unlocking Bangladesh’s Mineral Resources. Bangladesh’s mineral resources have
a market value of over 2.26 trillion dollars, according to the Geological Survey of Bangladesh
(GSB). However, inadequate government investment and lack of exploration have prevented
their full use. Experts argue that harnessing these resources could boost the economy, address
the energy crisis, and reduce dependency on imports. The government must take initiatives,
particularly regarding natural gas and coal extraction, to unlock the potential and secure the
country’s future. Dak Pion 13 July 2023
Mineral resources in Bangladesh worth $2.26 trillion
The Geological Survey of Bangladesh (GSB) has determined the market value of existing mineral
resources in Bangladesh. According to the organization’s estimates, the value of naturally
available mineral resources in the country exceeds 2.26 trillion dollars. This amount, when
converted to Bangladeshi currency, is 241.97 trillion takas. However, the value of natural gas in
the country has not been included in the GSB calculations. Stakeholders have indicated that if
the value of natural gas is taken into account in the GSB calculations, the estimated value of
existing mineral resources in the country will increase by several trillion dollars.
Government investment in the extraction of these valuable mineral resources is significantly
inadequate. GSB has revealed that no specific exploration has been conducted regarding the
real reserves, proven reserves, and reserves of the mineral resources within the country. The
relevant policymakers also state that despite the abundance of mineral resources in the
country, there has been no significant interest from the government at several times. As a
result, the amount of investment in this sector has been consistently minimal year after year.
Experts argue that if initiatives are taken for the exploration and extraction of mineral
resources, it can become a major source of foreign currency earnings for the country.
Moreover, utilizing these resources could even provide a solution to the ongoing energy crisis
and ensure security.
We talked to Professor Badrul Imam, a geologist to learn about the current status of mineral
resources in the country. He said to Bonik Barta, “In our country, natural gas is being
extensively extracted among the existing mineral resources. The proven reserves of this gas are
being depleted continuously. We believe that there is more gas in the country and it can be
extracted. However, the government’s initiatives and investments in this regard are not
satisfactory. There is no significant effort by the government to extract coal on a large scale. In
the northern part of Bangladesh, there are five mines. In addition, there is a huge deposit of
limestone beneath the soil in Joypurhat, but it is not being extracted.”
The Cox’s Bazar region and the Brahmaputra River also have mineral deposits. Valuable mineral
deposits are also present in the major rivers. However, stakeholders complain that there is
insufficient effort to extract them. However, there is some local extraction of sand and a
minimal amount of stone extraction.
Former Petrobangla employee Mr. Farid Uddin has also served as the Country Director of
United Meridian, an American research organization for oil and gas exploration. Regarding the
matter, he stated, “Bangladesh has abundant natural resources in its seas and land. The
presence of gas and coal is particularly evident. However, proper research and investment have
not been made to harness these resources. As a result, our dependence on gas imports has
increased year after year.”
An expert in the field of energy and mineral resources said to Bonik Barta, “Although other
resources have been excluded, there is a strong possibility of gas and petroleum reserves only
in the Chattogram region of the country. Despite recommendations from various international
advisory organizations, no initiative has been taken in this regard. Unfortunately, the
Department of Petroleum has taken up a plan for drilling 46 coal wells. There is no effort in
terms of exploration in Chattogram. The government must invest appropriately in potential
areas of natural resources and reduce dependency on imports. Otherwise, the uncertainty of
the petroleum sector will continue.”
According to GSB, the estimated market value of the discovered mineral resources in the
country is primarily based on the quantity obtained from the existing resources. If the
possibilities are reviewed, it may be possible to determine the quantity and appropriate size of
these resources. Furthermore, it will be possible to assess the natural economic value of the
resources based on market prices.
From the sources of the Ministry of Power, Energy, and Mineral Resources, we got to know that
the Geological Survey of Bangladesh has determined the market value of eight types of
discovered mineral resources in the country to be 2.26 trillion dollars. Coal constitutes the
majority with over 7.25 billion tons. Considering the market price of $175 per ton, the value of
this quantity of coal stands at 1.26 trillion dollars. Additionally, there is a probable reserve of pit
coal of around 600 million tons, which at $60 per ton, amounts to approximately 35.9 billion
dollars.
In addition, there is a reserve of 25.27 billion tons of limestone, with a value of 758.1 billion
dollars at $30 per ton. Hard rock has a reserve of 201 million tons, valued at 5.42 billion dollars.
The value of 230 million tons of white clay is 29.9 billion dollars. Silica has a reserve of 5.117
billion tons, valued at 61.4 billion dollars. The value of 2.20 billion tons of gravel is 33 billion
dollars, and the value of 620 million tons of iron is 68.8 billion dollars.
GSB’s Director General Mohammad Elias Hossain said to Bonik Barta, `GSB’s main work is
mineral resources exploration. Many of the discovered minerals are still in the exploration
phase. We have estimated approximate values for these minerals. If we conduct land surveys or
feasibility studies for these mineral resources, we can obtain a more accurate assessment. The
amount of money involved can increase or decrease accordingly.’
GSB believes that detailed research is needed to determine whether these discovered mineral
resources can be extracted. Specifically, regarding coal, the top officials of the organization
stated that coal mines are located deep in the soil. The technology for extracting such deep coal
has not yet become easily available in Bangladesh. The extraction of this coal will have an
impact on the land.
According to the data available on GSB’s website the existing mineral resources, there are
approximately 1.053 billion tons of coal in Jamalgonj, Joypurhat, 102 million tons in
Badalgachhi, Dinajpur, 143 million tons in Khalaspir, Rangpur, and 4.2 billion tons in Digipara,
Dinajpur. In addition, there are 2.82 billion tons of peat in Hakaluki Haor, Maulvibazar, 150
million in Baghia-Chanda Beel, Gopalganj, 70 million in Dirai, Sunamganj, 52 million in Shalla,
Brahmanbaria, 32 million in Bijaynagar, Brahmanbaria, and 80 thousand tons of coal in
Kalamojha, Khulna.
Regarding limestone, GSB states that the highest amount of limestone is present in Nawabganj,
a northern district in Bangladesh. Tajpur, Badalgachhi, and Bhagawanpur in the district have
more than one crore tons of limestone. Additionally, Joypurhat Sadar has 1 billion, Panchbibi
Upazila has 59 million, and Baghaali Bazar in Sunamganj has 17 million tons of limestone. There
are also several other districts in the country where limestone deposits have been identified,
but no information is available about the quantity from GSB.
As valuable sedimentary deposits, GSB mentions that Madhupur in Tangail has approximately
120 million tons of white clay, Madhabpur in Hobiganj has 68 million tons, and Bijaypur in
Netrakona has 25 million tons. Furthermore, although several other districts in the country
have marked signs of sedimentary deposits, GSB has not provided any information about the
quantity.
GSB has revealed the presence of abundant gravel deposits in six districts. The total amount of
gravel deposits in these districts is 2.2 billion tons. Hakimpur in Dinajpur has 650 million tons of
iron ore and the glass sand deposits exceed 3.2 billion tons.
Source: Bangla online news papper “Bonik Barta” on June 27, 2023
