GCM (GCM)

Sheikha Hasina stopped GCM opening its Phulbari coal mine so that the coal had to come from India. This allowed Hasina to take a backhander. In the end she had to send in her troops to murder about 1,500 students who wanted a job in Bangladesh. Hasina was then rumbled and sentenced to death – by which time she had disappeared to India.

But this suggests to me that coal will eventually come from Phulbari. And the question then arises: what is GCM worth? It is too early to say but I certainly would not sell GCM here: the proper price should be far higher.

Written by Simon Cawkwell, August 2026