Nostromo Research (London) has published a devastating critique of one of South Asia’s biggest proposed mining projects – London-based GCM Resources plc‘s Phulbari Coal mine in Bangladesh.
GCM Resources’ Annual General Meeting will take place in London on 16 December 2008.
Among the Nostromo report’s conclusions are that:
* The project threatens numerous dangers and potential damages, including the degradation of a major agricultural region in Bangladesh at a time of soaring food prices; pollution of the world’s largest wetlands; and making a significant contribution to adverse global climate change;
* The project’s Environmental and Social Impact Assessment is full of vague assurances, promising future mitigation measures that are inadequately defined and will almost certainly not be properly implemented;
* The managing company, GCM Resources plc (Asia Energy), clearly has insufficient practical experience of a project of this magnitude;
* Both the “Precautionary Principle” and that of “Inter-generational Equity” will be severely compromised if the mine proceeds according to its present design;
* The project will profoundly affect both the quantity and quality of water available in the area of the mine footprint;
* The likelihood of uncontrolled acid rock drainage has – by the project proponents own admission – not been adequately assessed; nor has the risk of a serious seismic event in the mine area;
* The project will cause a significant increase in emissions of airborne particulate matter with a direct impact on peoples’ health;
* There is little evidence that project managers have the capacity to ensure that proposed rehabilitation measures will actually work.
Read the full report here.