GCM Resources Regulatory News (GCM)

1 Apr 2005 11:13

Asia Energy PLC01 April 2005 NEWS RELEASE 1 April 2005 Bangladesh Government gives Environmental Site Clearance to Asia Energy's Phulbari Coal Project Asia Energy PLC ("Asia Energy" or "the Company") announced today that theGovernment of Bangladesh had given its Phulbari Coal Project Environmental SiteClearance. The decision by the Department of Environment ("DOE") to endorse the Company'splans for an open cast coal mine at Phulbari in north-west Bangladesh paves theway for formal government approval of the scheme. "Environmental Site Clearance is a major step towards starting a world classopen cast coal mining operation at Phulbari," said Mr David Lenigas, AsiaEnergy's Joint Managing Director. "The fact that the DOE has given thisEnvironmental Site Clearance considerably ahead of schedule demonstrates thecommitment of the Government of Bangladesh to this very significant resourceproject." The Department of the Environment issued its Environmental Site Clearance forthe Project after evaluating plans for the mine, including an 'InitialEnvironmental Examination' prepared by its environmental consultants, SMECInternational Pty Ltd. SMEC is currently working on a full Environmental Impact Assessment for theProject which is due to be submitted to the Government in mid-2005. For Further Information please contact: David Lenigas, Joint Managing Director/Michael Frayne, Joint Managing DirectorAsia Energy PLCTel: +44 (0)20 7079 1798Fax: +44 (0)20 7491 2758info@asia-energy.com Cathy Malins/Justine HowarthParkgreen CommunicationsTel: +44 (0)20 7493 3713cathy.malins@parkgreenmedia.com Evolution Securities/ JP Morgan CazenoveChris Sim/ Michael Wentworth-StanleyTel: +44 (0)20 7071 4309/ +44 (0)20 7155 4588 This information is provided by RNS The company news service from the London Stock Exchange