- GCM Resources, a London based resource exploration and development company, said the OECD's National Contact Point unit is investigating claims made against the company further.

In December last year a complaint was lodged by activist groups against the company, alleging the breach of OECD Guidelines for Multinational Enterprises.

The Company has consistently maintained that the Phulbari Coal Project is planned to enhance the human rights for the people of the Dinajpur area as well as the Bangladesh population.

Upon development, the Project would support up to 4000MW of power generation for the country, significantly increasing the electricity availability for the country. The additional electricity would drive economic and social development and help Bangladesh towards meeting its Millennium Development Goals.

GCM maintains its commitment to develop the Project in alignment with the highest international and national social and environmental standards.

Extensive studies have been conducted into the potential impacts of mining and associated activities, and plans have been prepared in accordance with the highest international standards to mitigate any adverse impacts and at the same to magnify the potential benefits, such as improved water quality and living conditions.

At 1:00pm: [LON:GCM] GCM Resources share price was -2.5p at 18.5p

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