GCM Resources receives power plant pre-feasibility assessment
Published by Claire Cuddihy,
Further to an announcement on 11 September 2018, GCM Resources plc (GCM) an AIM-quoted mining and energy company, has received a power plant pre-feasibility assessment report (PFS) from Power Construction China Corporation of China Ltd (POWERCHINA), the parent company of Sinohydro Corporation Ltd.
The PFS considers the technical aspects of developing 4000 MW of power generating capacity to be implemented in two stages (each stage consisting of two 1000 MW units) at the Phulbari coal mine site. These power plants are in addition to the existing 2000 MW power plant proposal with China Gezhouba Group International Engineering Co Ltd (CGGC) which GCM reported in its announcement on 14 July 2017. All power plants are planned to be commissioned in line with the coal mine's ramp up to full production.
The POWERCHINA report confirms that by utilising the latest highly energy-efficient Ultra-Super Critical power plant design, 6000 MW can be generated from the mine's thermal coal production. This is a value-adding step for the Phulbari coal and power project and potentially provides a complete market for the planned 12 million tpy of thermal coal production.
In the preparation of the PFS, GCM's Bangladesh-based personnel organised for a large team of technical experts from POWERCHINA to visit the proposed site of the Phulbari Coal and Power Project. GCM's personnel worked closely with the POWERCHINA team, contributing its technical skills, experience, and local knowledge to help streamline the study and other necessary due diligence.
POWERCHINA and the company are currently in discussions to further progress the relationship.
The Executive Chairman of GCM, Datuk Michael Tang PJN, stated: "This is a significant step for the Phulbari coal and power project as it confirms that technically the project is able to support 6000 MW of power generation. Subject to satisfactory negotiations, we aim to extend the arrangement with POWERCHINA and then for more detailed feasibility studies to be completed on the proposed mine mouth power plants, which we anticipate will provide energy at the lowest-cost in Bangladesh.”
"We are confident that with the support of such high calibre development partners the Phulbari coal and power project will deliver substantial benefits for the Government, the people of Bangladesh and our shareholders."
Read the article online at: https://www.worldcoal.com/power/06112018/gcm-resources-receives-power-plant-pre-feasibility-assessment/
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