London-listed GCM Resources’ subsidiary Asia Energy has been accused by a Bangladesh parliamentary committee of having no valid deal since 2006 with the government for any exploration or mining in Phulbari.
The parliamentary standing committee on power, energy and mineral resources ministry has recommended that the Government’s Energy and Mineral Resources Division take action against GCM Resources Plc, the mother company of the AEC, for doing business on the London Stock Exchange showing the Phulbari coalfield project as its own resources.