GCM Resources in Talks to Extend Joint-Venture Agreements With PowerChina
By Adriano Marchese
GCM Resources PLC said Friday that the company is in talks with
Power Construction Corporation of China Ltd., also known as
PowerChina, to extend two joint-venture agreements.
The AIM-listed mining and energy company said it seeks to extend
the two agreements by 12 months, both of which are set to expire on
Jan. 17 and March 15.
GCM Resources said formal extensions to the agreements with the
Chinese energy and construction company would allow GCM to continue
progress on the development of its coal-fired power plant project
"The board of the company is confident of agreeing such
extension terms and a further announcement will be made once an
extension is formally entered into," it said.
Write to Adriano Marchese at firstname.lastname@example.org
(END) Dow Jones Newswires
January 15, 2021 12:00 ET (17:00 GMT)
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