GCM Resources

GCM Resources is a London-based resource exploration and development company. Its primary project is the The Phulbari Coal Project, which its website states is 'poised for development once the Government of Bangladesh provides approval'.

Activities

Highlights of 2013 for GCM:

• The Bangladesh Government has continued to restructure the country's energy sector towards coal-fired power plants significantly increasing the anticipated demand for high quality thermal coal within the country. Utilisation of domestic coal resources is essential to Bangladesh's future energy security.

• Over the last six months, the Company has continued its engagement with the local community both within and surrounding the Phulbari Coal Project area. Support for the Phulbari Coal Project is increasing within the local communities.

• GCM recorded a loss after tax of £518,000 for the period ended 31 December 2013 (31 December 2012: loss of £2,172,000).

• The Company raised £2.3 million on 29 August 2013 via a share placement.

Asia Energy

Shareholders

As at 2013:

• Seren Capital Management Limited - 2,000,000 - controlled by Richard Griffiths

Former shareholders

• RAB Capital

Lobbyists and PR firms

• Bell Pottinger - Lorna Cobbett / Joanna Bloom
• Tulchan Communications

External resources

• GCM Resources, [PDF] Response to reports on environmental & resettlement impacts of Phulbari Coal, 27 January 2009
• Miriam Ross, UK government accepts complaint over GCM Resources’ Bangladesh coal mine, WDM website, 14 June 2013

• International Accountability Project & Bank Information Center (BIC)Phulbari Coal Project: An Assessment of the Draft Resettlement Plan Prepared by Global Coal Management/Asia Energy Corporation’, August 2008
• Roger Moody, (commissioned by BIC) ‘Phulbari Coal: A Parlous Project November 2008

Contact

Websites: http://www.gcmplc.com/‎

http://www.phulbaricoal.com