| Coal
Projects, Bangladesh
21.2% equity interest
GCM has identified a world-class coal resource of 572 million
tonnes (JORC compliant) in Northwest Bangladesh, called the
Phulbari Coal Project (“the Project”). The Project
is a substantial coal resource with potential to support a
long life, low cost mining operation and is the only such
deposit in Bangladesh that has been subjected to a full Feasibility
Study, including an Environmental and Social Impact Assessment
prepared to international standards. The Project has the potential
to produce high quality export grade coal at competitive average
stripping ratios and low operating costs, for an initial estimated
35 year mine life. GCM has recently had a change of management
and since then raised funds via a share placement in which
Polo participated.
Over the next 12 months GCM will continue in discussions
with the Government of Bangladesh to progress the Project.
For further information visit:
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