t
GCM Resources plc noted on 17 August 2026 statements from Bangladesh's Minister of Finance regarding the country's national energy mix and ongoing energy initiatives. The Minister stated that renewable, gas, and coal-based power generation are under active consideration, and new gas exploration and further work on solar and coal-based power generation are underway. GCM's board welcomed these statements, which it noted align with the government's commitment to include coal-based power, while the company's Phulbari project holds a 572 million tonne coal resource capable of supporting 6,600MW.
| Date | 17 Aug 2026 |
| Time | 08:42:08 |
| Category | Miscellaneous |
| ID | 9249Q |
17 August 2026
GCM Resources plc
("GCM" or the "Company")
Statement regarding government commentary
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.
For further information:
|
GCM Resources plc Keith Fulton, Finance Director
|
Tel: +44 (0) 20 7290 1630
|
|
Allenby Capital Limited Nominated Adviser and Broker John Depasquale / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner / Lauren Wright (Sales and Corporate Broking)
|
Tel: +44 (0)20 3328 5656
|
About GCM Resources
GCM Resources plc (LON: GCM), the AIM resource exploration and development, has identified a high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the "Project") in north-west Bangladesh.
Utilising the latest highly energy efficient power generating technology the Phulbari coal mine can support some 6,600MW. GCM requires approval from the Government of Bangladesh in order to develop the Project. The Company has a strategy of linking the Company's mine proposal to supplying coal to the Government of Bangladesh's existing and in the pipeline coal-fired power plants and / or power plants developed development partners. Together with credible, internationally recognised strategic development partners, GCM aims to deliver a practical power solution to provide the cheapest coal-fired electricity in the country, in a manner amenable to the Government of Bangladesh.