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GCM Resources Signs Agreement to Develop its Phulbari Coal Mine

Coal News - Published on Mon, 15 Jul 2019

Image Source: Vox Markets
GCM Resources announced that it had entered into a bilateral agreement with two engineering companies based in China. The MOU, which is valid for an initial six months until a mutually agreed extension, will form a strategic partnership between GCM, China Nonferrous Metal Industry's Foreign Engineering and Construction Company and Power Construction Corporation of China. The alliance will see all parties jointly managing the project to develop GCM’s Phulbari Coal Mine in northwest Bangladesh.

Mr Datuk Michael Tang, Executive Chairman of GCM, commented “Both NFC and PowerChina are highly respected global companies, and in becoming strategic partners to the Company's Project, will, in the Board's view, add tremendous strength and credibility to our proposal.”

In accordance with the agreement, each party within the alliance will be expected to work alongside each other in order to receive the necessary approvals from the Bangladeshi Government.

Source :

Posted By : Rabi Wangkhem on Mon, 15 Jul 2019
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