RE: LICENCE RUNS OUT WHEN ???29 Apr 2024 09:41
BHP Minerals International Exploration Inc entered into a Contract with the Government of Bangladesh in August 1994, giving it the right to explore and mine coal in Northern Bangladesh. In February 1998 the Contract was assigned to GCM’s wholly owned subsidiary, Asia Energy Corporation (Bangladesh) Pty Limited, with the endorsement of the Government. GCM has fulfilled all its obligations under this legally binding Contract and holds a mining lease and exploration licences in the Phulbari area covering the prospective mine site. Under the terms and conditions of the Contract, a mining lease has a 30 year term (from 2004) and may be renewed for further periods of 10 years (GCM’s option).