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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 Feb 2012 10:22 - 655 of 660

BAGERHAT, FEB 14: The authorities have taken initiative for dredging the areas from Mongla Port to Satmary, Katakhali and Koigordaskathi for free movement of coal-laden ships of India to the coal-based 1,320 megawatt electricity centre at Rampal of Bagerhat district. It is learnt that Mongla Port authority is going to execute capital dredging of about 15 kilometre from south of Mongla Port which will start very soon. It will increase navigability up to Mongla Port measuring about 8.5 metres. The worksite of the 1,320 megawatt coal based electricity plant stretches from Mongla Port to 10 kilometres of the Poshur river.
A proposal for capital dredging was recently sent to the Water Resources Ministry from Energy and Mineral Resources Ministry. A directive was also issued to the ministry concerned from the Water Resources Ministry for early start of the dredging work. On January 29 an agreement was signed with Indian National Thermal Power Company (NTPC). Under the agreement, Bangladesh and India will constitute a joint venture company. They will float a coal-based electricity centre capable of generating 1,320 megawatt electricity at its said Rampal centre of Bagerhat district. Bangladesh government is contemplating for dredging project for ensuring free flow of Indian coal-laden ships to the coal-based electricity centre at Rampal.
Concerned people told that if dredging is undertaken from Mongla Port to Satmary, Katakhali, high container ships will be able to be anchored and coal-based electricity generation plant and generation of more electricity will be possible. It will pave the way to establish more electricity creating scope for employment of more people. That is why a letter from the Energy and Mineral Resources Ministry was issued to Water Resources Ministry for taking necessary action. Upon signature of construction of coal-based electricity centre between Bangladesh and India, Water Resources Ministry directed the concerned authority for dredging of the river.
It is told in the said letter that a comprehensive plan for establishing coal-based electricity centre capable of generating 1,320 megawatt electricity at Shapmary, Katakhali and Koigordashkathi mouza under Rampal upazila of Bagerhat district has been taken. If the electricity centre exists in 80 per cent plant factor, it will require 30 lakh metric tons of coal for its consumption. If the navigability of the river comes at 8.5 metres, it will be easy for movement of high containing ships with huge quantity of coal. The centre will come into production in 2016. The centre is expected to come into production much ahead in terms of plan of the government.

smiler o - 15 Feb 2012 15:55 - 656 of 660

Dhaka, Feb 15 (bdnews24.com)—The government is planning to install coal-based power stations around the country, prime minister Sheikh Hasina told parliament on Wednesday.

"PDB has invited tender bids for setting up the third unit of the 250MW power plant at the mouth of Barapukuria coal mine. The unit will come into operation in 2015."

Adding that the government plans to add 11,000MW of power to the national grid in the next 18 years, she said that the government has already published a master plan on developing power generation, 'Power System Master Plan-2010', in February last year.

"Projects to set up power plants with a total capacity of 11,000MW using locally produced coal at the mouth of the mines in the country (northwest region) within 2030 have been included in the master plan for execution. The projects would be implemented step by step in future based on the detailed feasibility studies."


"A 15-strong expert committee has been formed to finalise the coal policy. The committee would give suggestions analysing impacts on the environment, geological structure and socio-economical condition," Hasina added in her reply to a question from reserved seat MP Fazilatunnesa Bappy.

skyhigh - 31 Dec 2012 22:02 - 657 of 660

Anyone still in ? If so, what views do you have for GCM in 2013 ?

niceonecyril - 06 Feb 2014 12:14 - 658 of 660

2 day chart.
-----------------------------------------------------
TIDMGCM

RNS Number : 3940Z

GCM Resources PLC

05 February 2014

5(th) February 2014

GCM Resources plc
m2 Dat chart.
"> Chart.aspx?Provider=Intra&Code=GCM&Size=


("GCM" or the "Company")

(AIM:GCM)

Press Speculation on Coal Policy

GCM Resources plc (AIM:GCM), a resource exploration and development company, has noted today's increased share trading volumes and share price, and knows of no reason for it other than for press speculation in Bangladesh relating to the reported imminent finalisation of the Government of Bangladesh's Coal Policy.

smiler o - 11 Feb 2014 10:33 - 659 of 660

Bangladesh commits to coal developments

06-Feb-2014

London-based GCM Resources, a resource exploration and development company, has told the LSE increased share trading volumes and share price are prompted by press speculation in Bangladesh relating to the imminent finalisation of the Government of Bangladesh's coal policy.

superman007 - 13 Nov 2016 09:09 - 660 of 660

Amazing transformational RNS even talk of an sp of £37! Now that is what you call life changing.
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