GCM Resources plc, formerly Asia Energy and Global Coal Management, is a mining company quoted in the London Alternative Investment Market. Its major asset and goal is to exploit open cast coal mining opportunities in the Phulbari region of Dinajpur District, Bangladesh.
Company overview
GCM Resources plc (formerly Asia Energy plc) was incorporated in London in September 2003 and acquired 100% of Asia Energy Corporation Pty Ltd, which held the licences to explore and mine the Phulbari Coal Project in the Dinajpur district of Bangladesh.
Asia Energy Corporation Pty Ltd entered the coal mining scenario in 1998 by buying the mining contract originally awarded to the international coal giant, BHP, on 20 August 1994.[1] BHP Billiton Mitsubishi Alliance (BMA) is Australia's largest coal producer and a leader in the international coal industry.[2] BHP claims it sold its rights for strip mining at Phulbari because the coal is deeper than 130 meters (it is at 151 meters depth).
Asia Energy must pay Deepgreen Minerals Corporation $1 per tonne of ore sold.[3]