Statement regarding government commentary
GCM Resources plc notes recent commentary from the Minister of Finance of Bangladesh indicating the government is finalising its national energy mix, actively considering renewable energy, gas, and coal-based power generation, alongside new gas exploration and further work on solar and coal projects. This reported statement aligns with Bangladesh's commitment to diversifying its energy sources to include coal, and GCM will continue to monitor developments relevant to its Phulbari Coal and Power Project.
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GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, notes the statements made by Amir Khasru Mahmud Chowdhury, Minister of Finance of Bangladesh, over the weekend at an event hosted by the American Chamber of Commerce in Bangladesh (AmCham).
In particular, the board of directors of GCM (the "Board" or the "Directors") welcomes the reported statement that the Government of Bangladesh is currently finalising the country's national energy mix, with renewable energy, gas and coal-based power generation all under active consideration, and that new gas exploration initiatives, alongside further work on solar and coal-based power generation, are already underway.
The Board notes that these reported statements are consistent with the Government of Bangladesh's stated commitment to diversifying the country's energy generation mix to include coal-based power. The Board will continue to monitor developments in this regard as they relate to the Phulbari Coal and Power Project in north-west Bangladesh.
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