The Phulbari Coal and Power Project is a substantial, world class coal resource that will support a long life, low cost open pit mining operation and is the only such deposit in Bangladesh that has been subjected to a full Feasibility Study including an Environmental and Social Impact Assessment prepared to international standards.

It is a landmark project for Bangladesh and will deliver substantial benefits at the national, regional and local community levels:

• Energy security and diversity : The Project has a unique role to play in addressing the country’s electricity demand as its development will provide the basis for a step-change in the country’s electricity generating capacity and also will deliver that large scale electrical power at a lower cost coal-fired electricity tariff than for imported coal.
• Regional development : The Project’s mining operation alone will provide 17,000 jobs (direct and indirect). However, many thousands more jobs will be created in industries enabled by utilising the Project’s coal production for power generation, heating and potentially petrochemicals, and from the business opportunities based on the large volume of industrial mineral co-products extracted from the mine’s overburden (which are in high demand but short supply in Bangladesh). Living conditions of all people affected by the Project will be improved, their livelihoods restored and in many cases improved. As a result of year-round irrigation, improved water quality, and improved farming inputs and practices, it will be possible to produce three crops per year with higher yields than at present.
• Huge economic impact : The Project will contribute 1.5% or some US$3.4 billion to Bangladesh’s GDP each year and contribute over US$9.0 billion in taxes, royalties and service charges to the Government over the life of the Project. The replacement of high-Sulphur imported coals and other hydrocarbons will have a positive effect on balance of payments and air quality.

In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal and Power Project to the highest national and international social and environmental standards. In this way, GCM aims to maximise the benefits of the Project for both the company’s shareholders and Government and people of Bangladesh, while at the same time minimising any environmental and social impact.