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 in Bangladesh.

"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 adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

January 15, 2021 12:00 ET (17:00 GMT)

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