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Polo holds a 29.83% interest
in GCM Resources plc (“GCM”) (AIM:GCM), a London-based
resource exploration company with operations in Bangladesh. Its
Phulbari Coal Project is poised for development once the Government
of Bangladesh provides approval.
GCM has established a world class coal resource of 572 million
tonnes (JORC compliant) near the town of Phulbari in North West
Bangladesh. The growing domestic market and proximity to expanding
Asian markets adds to the Project’s competitive advantage
and economic sustainability. High quality thermal coal represents
63% of the resource with low ash metallurgical coal, also known
as semi-soft coking coal making up 21%.
The Phulbari Coal Project
- Export quality thermal and semi-soft coal with a JORC compliant
resource of 572mm tonnes
- Estimated mine life of 30 years with full production at 15 mm
tonnes
- Potential to install up to 1000 MW of coal fired power generating
capacity at the mine site
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