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Join the Demo at GCM's AGM - 15 December '11 at 10:30am

GCM Resources plc is a British company supported by major hedge funds and banks including UBS, Credit Suisse, Barclays Bank, LR Global, and Argos Greater Europe Fund. It is planning an open pit coal mining in Phulbari, Bangladesh bringing massive displacement, loss of livelihood and environmental devastation.

An incarnation of the notorious Asia Energy plc which was thrown out of Bangladesh by people’s movements in 2006, GCM Resources’ mine will:

• Destroy 14,660 acres of highly fertile land crucial to food production.
• Displace nearly a quarter of a million people – most of them indigenous farmers, destroying their land and livelihood
• Cause massive environmental devastation- acid poisoning of soil and water and air pollution in a densely populated region.
• Force Bangladesh to buy its own coal at the exorbitant prices of the international market while siphoning 94% of the profits from the mine out of Bangladesh

In August 2006, 6 people were killed and 200 injured after Bangladesh paramilitary forces fired on a massive protest against Asia Energy plc by the Phulbari people’s movement. This was followed by widespread strikes. Eventually the government declared that Asia Energy would have to leave Bangladesh and that there would be no more open-pit mining allowed in the country. However in October 2006, the company changed its name to Global Coal Management plc, claimed that it had received no notification from the government of Bangladesh of any changes to the terms of its contract, and that it was 'fully committed to the Phulbari Coal Project in Bangladesh'. Later it changed its name again to GCM Resources plc. Resistance to the company and the open pit mine has continued with a 100,000 strong protest rally in Phulbari in October 2010.
Stop this plunder! Throw GCM Resources plc out of Bangladesh! No to open pit mining!